The popularity of darts continues to soar following the release of Matchroom Sport‘s financial results for the year ending 30 June 2024.
The global sports promotion and events company reported a pre-tax profit of £52.4m, up from £42.9m the previous year. While the growing influence and investment from Saudi Arabia positively impacted the company’s boxing results, it was the darts division that proved to be the most valuable.
The Professional Darts Corporation (PDC) generated a profit of £17.9m, while Matchroom Boxing brought in £14.4m. A similar trend was seen the previous year, with PDC reporting £14.9m and boxing £11.8m.
Additional revenue came from the company’s other sporting arms, including snooker and the multisport division.
At the centre of darts’ rise
The financial results include what may go down as one of the most memorable PDC World Darts Championships in the competition’s history. During this edition, 16-year-old Luke Littler finished as runner-up to Luke Humphries, a feat that captured the attention of fans worldwide.
The tournament achieved record-breaking viewership, with over 4.8 million people tuning in. While this year’s competition saw Littler finally claim the title, it was unable to surpass the viewership numbers from the previous year.
Despite a slight dip in viewership this year, darts remains the cash cow for Matchroom. These figures are expected to rise in next year’s financial results, with the promotion renewing its broadcasting deal with Sky for a record amount in February.
Playing second fiddle
While boxing once again failed to eclipse darts in these results, its year-on-year growth shows promise. However, some industry stakeholders believe this could soon shift.
It’s hard to credit Matchroom Boxing’s success to just one athlete, but Anthony Joshua has undoubtedly played a pivotal role in driving revenue over recent years. Joshua quickly became the star of Eddie Hearn’s stable, though his drawing power may fade as the 36-year-old comes off a defeat to Daniel Dubois.
Despite his dip in rankings, several high-profile fights remain on the horizon that could deliver significant paydays for the company, including potential matchups with a returning Tyson Fury and social media star Jake Paul.
Saudi Arabia’s growing sports scene has also been a major driver of Matchroom’s profit growth in recent years, though this advantage might be slipping away too.
The country’s influence on boxing has been monumental, with an early strategy that saw Matchroom and Queensberry Promotions join forces to stage blockbuster events. Saudi officials had made it clear that the two UK-based promotions needed to collaborate to grow the sport, having previously competed for market share and, in doing so, prevented major fights from happening.
However, Saudi Arabia appears to be entering a new chapter, which may rely less on the traditional British stables.
In March, TKO Group officially entered the boxing arena, launching a new promotion through a long-term partnership with Saudi-backed entertainment giant Sela.
Under this new venture, TKO will act as managing partner, with day-to-day operations led by UFC President Dana White and WWE President Nick Khan. Turki Alalshikh, Chair of the Saudi General Entertainment Authority (GEA), will also play a pivotal role in establishing the promotion as one of boxing’s dominant forces.
In a recent interview with City AM, Frank Warren of Queensberry Promotions and Eddie Hearn both acknowledged that White’s entry into the sport will be transformative. However, Warren stressed that “the most important thing for us is to focus on what we’re doing, both of us.”
