After seven years of anticipation, Indianapolis' turn as host of the NBA All-Star game resulted in a record-breaking economic value of more than $400 million.
The 2024 NBA All-Star Game brought in more than $403 million for the Circle City and Central Indiana, according to a report released last week by Pacers Sports & Entertainment.
To total the economic value of the three-day event, researchers at the Temple University Sports Industry Research Center analyzed three main categories:
- Direct spending from visiting fans and businesses
- Indirect revenue, which accounts for additional spending in Indianapolis from visitors
- The value of viewership, earned media, social media traffic and global media coverage
The study concluded the All-Star Game generated $290 million in economic revenue and $112 million in media exposure.
Indianapolis originally won the bid to host the All-Star game in 2021, but due to the pandemic, the city's chance got pushed back three years, giving organizers additional time to plan the event lasted hosted by Indiana in 1985.
Indianapolis' record revenue far surpassed initial estimates — bringing in $80 million more than expected — despite taking place during a chilly Indiana weekend in February with blistering snow and freezing temperatures that did not stop people from gathering downtown to shoot hoops outside along Georgia Street.
And Indianapolis recorded 35% more economic revenue than the two previous All-Star games. The annual NBA mid-season event brought in $294 million to Salt Lake City and $248 million to Cleveland in 2023 and 2022, respectively, according to previous reports.
The weekend lineup included the celebrity game coached by Peyton Manning, 3-point shooting and dunk contests inside Lucas Oil Stadium and concerts by artists like Keith Urban and Lil Wayne.
The basketball festivities culminated with the marquee All-Star Game at Gainbridge Fieldhouse with a halftime performance by Post Malone and a lineup that included Pacers point guard Tyrese Haliburton starting for the first time.
Related:A look at downtown Indianapolis on Friday of NBA All-Star Weekend
More than 81,000 visitors attended the game or related activities, including 43,000 from outside Indianapolis, according to the study. A total of 197,000 tickets were available across the weekend's events, a 20% jump from the 2023 All-Star weekend.
An international live audience averaging 15.7 million viewers helped media revenue reach $112 million, along with around 28,000 media articles from local, national and international news outlets that mentioned Indianapolis in the coverage.
Pacers Sports and Entertainment and the Host Committee Legacy Program awarded grants totaling $1.25 million to 24 communities to refurbish basketball and play areas for thousands of kids around the state. In addition, the committee invested $2 million into local arts and culture.
The All-Star Weekend kicked off Indianapolis' line-up of major tourism events in 2024, which could be a record-breaking year for the city, said Chris Gahl, the executive vice president of Visit Indy, the city's tourism arm.
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"The economic impact matches what we saw in hotel occupancy and total visitation, in terms of those who went to the convention center and enjoyed the city over the long weekend," Gahl said. "So the event itself was an incredible way to jumpstart 2024, which is a year that we believe will set records for the city."
Following the All-Star Game, visitors flocked to Central Indiana for the total solar eclipse, and last month, thousands attended the Olympic Swim Trials at Lucas Oil Stadium.
In November, Taylor Swift's three-night leg in Indianapolis is also expected to bring thousands to the city as the singer's last concert in the United States for The Eras Tour.
Alysa Guffey covers growth and development for IndyStar. Know a business closing or opening? Contact her at amguffey@gannett.com or on X/Twitter: @AlysaGuffeyNews.
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2024-07-01 09:38:20Z
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