Despite a tough 2024 NRL season for the men's team, Brisbane Broncos delivered record memberships, increased attendance, and a solid financial performance with a $5.7 million profit.
- Men’s NRL team misses 2024 finals, NRLW team claims minor premiership
- Record total membership reaches 61,280 with 18% rise in home game attendance
- Group revenue grows 8.5% to $81.6 million, net profit steady at $5.7 million
- Sponsorship revenue up 5.6%, driven by extended partnerships and game day benefits
- Final dividend of two cents per share declared and paid in April 2025
A Season of Contrasts on the Field
The Brisbane Broncos faced a challenging 2024 NRL season, with the men’s team falling short of expectations by missing the finals series. This outcome contrasts sharply with the club’s proud history and high standards set by past successes. However, the NRLW team provided a bright spot, securing the minor premiership and advancing to the semi-finals, showcasing the growing strength and potential of the women’s program.
Off-Field Growth and Community Impact
Off the field, the Broncos experienced significant growth. Total membership hit a record 61,280, driven by a surge in ticketed memberships. This membership boost translated into an 18% increase in home game attendance, with average crowds nearing 40,000. The club’s community initiatives also continued to make a meaningful difference, particularly through the First Nations programs, which have engaged nearly 10,000 students since 2016, fostering positive social impact beyond the sport.
Financial Stability Amid Rising Costs
Financially, the Broncos demonstrated resilience and commercial strength. The group posted a net profit after tax of $5.7 million for the 2024 financial year, slightly up from $5.6 million in 2023. Gross revenue climbed 8.5% to $81.6 million, buoyed by increases in sponsorship, membership, ticketing, and merchandise sales. Sponsorship revenue alone rose 5.6%, reflecting successful partnership extensions and enhanced game day benefits.
However, total expenditure also increased by 9.4%, driven by higher costs associated with larger crowds, expanded marketing efforts, investments in technology, and football operations including player salaries and travel expenses. Notably, the club invested in marketing automation and supply chain improvements to boost merchandise sales, alongside costs related to the United States Round 1 fixture and football program restructuring.
Leadership Changes and Future Outlook
Leadership transitions marked the end of the year, with Kevin Walters stepping down after four seasons as NRL coach and Michael Maguire taking the helm for 2025. The club also welcomed new players and staff, signaling a strategic refresh aimed at returning the men’s team to finals contention. CEO Dave Donaghy and the Board expressed confidence in the club’s direction, underpinned by careful planning and strong commercial foundations.
The declaration and payment of a final dividend of two cents per share in April 2025 underscored the Broncos’ commitment to delivering shareholder value despite on-field challenges. Looking ahead, the club appears well-positioned to build on its community engagement, membership momentum, and commercial partnerships as it seeks to translate off-field success into improved on-field results.
Bottom Line?
With fresh leadership and solid financial footing, the Broncos aim to turn 2024’s setbacks into a springboard for 2025 success.
Questions in the middle?
- Can the new coaching team reverse the men’s team’s fortunes in the 2025 season?
- How will the club sustain membership growth and fan engagement amid competitive pressures?
- What impact will increased football operation costs have on future profitability?