The Masters Tournament is officially underway, and the golf world has descended upon Augusta, Georgia for the historic annual event.
It is estimated that there will be 35,000-40,000 patrons that attend the event on Thursday through Sunday, and that number swelled to over 50,000 during the Monday, Tuesday, and Wednesday time frame as they were gearing up for the tournament.
The Masters Will Make A Bulk Of Its Money On Merchandise
While it is one of the biggest events in all of sports and the crown jewel and largest draw of the golf season, Augusta National sells itself. It is the prestige that comes with the venue, from the immaculately maintained grounds to the trees lining Magnolia Lane.
It has such lure and power that Augusta National President Hootie Johnson once made the controversial statement that the club “doesn’t need TV’ and the millions of dollars that are made off of broadcast deals and rights.
And given the run on merchandise every year, he might be right.
This is the line for merchandise at The Masters.
They'll do about $70 million in merch sales this week.
That's $10 million a day, $1 million an hour, $16,000 a minute, and $277 every second.
Absolutely insane.
(📷: u/seamus_MC) pic.twitter.com/IBkVgRfpQA
— Joe Pompliano (@JoePompliano) April 6, 2023
One of the reasons for so many visitors early in the week is the run on memorabilia from the golf course. Thousands and thousands of people descend upon the merchandise store on the course grounds, and millions of dollars are made each year.
It is estimated that the Masters will do about $70 million in merch sales during the weekend, which comes out to about $10 million per day, or $1 million per hour of the pro shop being open.
Augusta Will Do $70 Million In Merchandise Sales
The rush is pure madness. There are people who stand in line for hours on end, often wanting more product that they can carry. They often get back into line for another round of shopping.
The business behind the Masters is fascinating.
The pro shop is PACKED every day, and they bring in nearly $150 million in revenue each year.
But they also leave about $250 million on the table — to maintain privacy, exclusivity, and control.
Read: https://t.co/BwDSrzBUzZ pic.twitter.com/QjmOvoAmUd
— Joe Pompliano (@JoePompliano) April 6, 2023
In 2022, The Masters did $69 million in merchandise sales, which accounted for 49 percent of the event’s entire revenue for the year. By comparison, the television rights brought in $25 million (18%), and ticket sales accounted for 39 million (28%). The remaining 5% was made by way of concessions.
The tournament teed off on Thursday morning and is set to conclude on Sunday afternoon. One of the most popular groups for the first two days will be the one containing Tiger Woods and John Rahm.
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