The 2024 World Series, featuring the Milwaukee Brewers and the Tampa Bay Rays—both small-market teams with the best records in their respective leagues—has drawn attention not only for the players on the field but also for its television ratings, an increasingly hot topic amid Major League Baseball’s ongoing challenges. Despite the excitement around the series, much of the national conversation has centered on how many viewers will tune in, raising questions about the financial implications for MLB and its broadcast partners.
The Brewers and Rays, neither of which has previously won a World Series, represent a shift away from matchups involving large-market franchises such as the New York Yankees and Los Angeles Dodgers. This trend is reportedly welcomed by MLB owners, who say a more diverse set of postseason teams enhances competitiveness. However, recent viewership figures show a notable drop. For instance, the 2024 Dodgers-Yankees World Series drew nearly twice the ratings of the 2023 Arizona Diamondbacks-Texas Rangers matchup. Early estimates suggest this year’s ratings could align closer to the lower numbers seen last year rather than the high figures from 2024’s Dodgers-Yankees series.
Fox, the current World Series broadcaster under a seven-year, $5.1 billion contract that runs through 2028, faces pressure to deliver strong ratings but industry experts downplay the risk of significant revenue loss. Ed Desser, a sports media consultant involved in previous major sports network deals, indicated that while large-market teams typically bring higher viewership due to their fan bases and market size, smaller-market teams do not inherently reduce the value of the broadcast. “It’s easy to hate a team that’s in a glamorous place and spends more than almost anybody. I’m not sure that anybody has an ax to grind against the Rays or the Brewers,” he said, highlighting the role of fan passion in driving engagement.
Bob Thompson, former president of Fox Sports Networks, noted that revenue from the World Series depends on a combination of factors beyond just ratings, including the number of games played and the quality of the matchup. Much advertising inventory is sold before the teams are determined, so only late-stage games, particularly Game 6 and Game 7, command premium pricing. He referenced last year’s seven-game Dodgers-Blue Jays series, which generated higher ratings than the current five-game Dodgers-Yankees series despite excluding Canadian viewership in ratings measurements.
Both Desser and Thompson emphasize that sports broadcasting contracts typically consider fluctuations in team performance and market size over several years, smoothing out potential short-term losses. MLS’s ongoing labor negotiations and potential changes to the schedule—such as fewer regular-season games and more playoff contests—could further shift viewership dynamics. Postseason games often attract higher premium advertising rates compared to regular-season matchups, according to Thompson.
Overall, while the World Series may garner lower ratings when featuring small-market teams, experts maintain that the event retains significant value. Ratings for live events across television have generally declined, with the NFL remaining an outlier. Big sporting events like the World Series still hold a premium despite fluctuating viewership. Recent Nielsen data from early October showed that major football games outperformed baseball in viewership, but the National League Championship Series also attracted notable audiences, surpassing leading entertainment programs for the week.
Ultimately, MLB owners and broadcast partners appear confident that the World Series will continue to be a financially valuable centerpiece of the fall sports calendar, regardless of the teams involved. “Even at a lower expectation for audience, there is still going to be that value,” Desser said. “It’s one of the biggest things happening in October.”