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The 2024 NBA All-Star Weekend generated more than $400 million in economic value for central Indiana, according to a league- and Pacers-commissioned study released Thursday.
The study conducted by Temple University’s Sports Industry Research Center determined the Feb. 14-18 event resulted in $290.7 million in direct and indirect spending, as well as more than $112.6 million in earned media value.
The economic impact figure is a nearly 26% increase from the center’s $320 million projection ahead of the event. In total, the city and Pacers Sports & Entertainment spent about $13 million to host All-Star Weekend.
“NBA All-Star 2024 was our opportunity to demonstrate to a global audience that Indiana is a center for sports, arts and culture, technology and innovation, and talent, and the results of the Temple study validate that we know how to generate measurable return on our investment,” Mel Raines, president and chief operating officer of PS&E, said in written remarks. Raines was also president of the All-Star Host Committee.
“Indianapolis has proven time and again that when you invest in world-class amenities and have buy-in from community, civic, and business leaders, these kinds of events can represent an important piece of your economic development strategies.”
Overall, more than 81,000 people from 44 states and 55 countries attended the city’s first All-Star Weekend since 1985, according to the study. More than 43,000 of those who attended the event were from outside of central Indiana. A survey of nearly 1,300 attendees found demographics skewed younger and male. About 56% of the respondents were male and 42% were female (with 2% either declining to say or giving a different answer).
The most populous age group was 35 to 44 years old, with 26% reporting annual income between $50,001 and $100,000.
According to the NBA, All-Star events including the fan-focused Crossover at the Indiana Convention Center, the Celebrity Game at Lucas Oil Stadium and the HBCU game and All-Star practice events at Gainbridge Fieldhouse had record-high attendance.
Thilo Kunkel, director of Temple’s Sports Industry Research Center, said the university’s study focused on the net impact of the event on Indianapolis—meaning it only accounts for money that was spent and generally remains in the central Indiana area.
“What we saw from the demographic data we gathered is, it seems like the event catered really well to people from Indiana and surrounding states,” he said. “A large proportion of the attendees came from the Midwest, and I know Indiana always claims its basketball country—but it seems like it actually is, and the people really care [about the sport]. I think that really came through from what we gathered.”
About $249.2 million of the $290.7 million in total economic impact came from corporate groups, including the NBA, while another $41.5 million was generated by non-local attendees, meaning out-of town visitors spent on average just under $1,000 apiece during their stay in Indianapolis.
The study also broke down the $290.7 million figure in terms of direct, indirect and induced effect. About $162.8 million of impact tied to All-Star Weekend was direct, or dollars that were spent by non-local attendees and companies solely in town for the events, while the remainder was indirect and induced revenue—money that circulated through the local economy to households and workers benefitting from the event.
Events and activity tied to All-Star Weekend also resulted in more than $2 million in spending on local artists participating in downtown activations, and another $1.25 million went to 24 not-for-profit organizations throughout the state through the host committee’s legacy initiatives.
Throughout NBA All-Star Weekend, Indianapolis was given a massive platform for media exposure. More than 1,500 credentialed members of the media from across the world attended. The average global audience for primetime events was 15.7 million people. The global audience totaled 64.7 million unique viewers throughout the weekend, according to the study.
More than 28,000 articles were published mentioning Indianapolis in connection to All-Star events, and social media platforms combined for nearly 25 million user impressions, or views.
The $112.6 million in total media value was broken down as follows: $87.2 million in total media publicity value from any references in the print and online media to Indianapolis; $12.6 million in total TV and broadcast publicity value; and $12.8 million in value from social media posts.
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There are many local universities that are able and willing to conduct this study, including IU Indianapolis, Ball state and Purdue.
They would have only made up a number of $378,432,717.79.
And because of it taxes will be lowered, potholes will be filled, and Gainbridge Fieldhouse will be paid off this year.
For this to happen, the City would actually have to be allowed to collect local option sales tax, which we aren’t. All of that sales tax money goes to the State and a penny of it goes straight into Irsay’s pocket.
If I’m not mistaken, Irsay keeps the bulk of all non game day revenues
also.
Irsay has an incredible sweetheart deal. He collects the bulk of any revenues
generated at Lucas Oil Stadium.
Now imagine all the people that came and didn’t rent a hotel or air BNB! Stayed with people! Slept at people they mets houses apartments etc… thousands!! I personally k ow many many!!! Way more money than that was made!! Way more!!!