Introduction
In recent years, European football has witnessed a remarkable transformation in match attendance and stadium revenues, with Serie A emerging as a standout performer. For the first time since 2001, Serie A has surpassed La Liga in average match attendance, highlighting a major shift in fan engagement and the league's resurgence on the global football stage.
Before the COVID-19 pandemic, football clubs increasingly focused on online activities, such as building social media followings, introducing fan applications, and exploring new revenue streams like fan tokens and NFTs. While these initiatives brought fresh ideas to football, their financial impact often remained unclear, and many fans expressed a desire that clubs return to the traditional matchday experience.
The pandemic further emphasized the importance of match attendance as clubs played behind closed doors, revealing the financial and emotional gap left by the absence of fans. Since the 2022-2023 season, clubs across Europe, have shifted their priorities back to maximizing stadium attendance and improving the matchday experience. Investments in modern stadiums, enhanced VIP offerings, and a focus on loyal season ticket holders have fueled significant growth in matchday revenues and strengthened club identities locally and internationally.
The current analysis focuses on Serie A's exceptional recovery, exploring the factors driving its rise in match attendance and matchday revenues. It also highlights the broader implications for European football, as Serie A's resurgence reshapes the competitive landscape and challenges established trends in fan engagement and financial performance.
Key Findings
Attendance Growth Across the Top 5 Leagues
The landscape of football match attendance has shifted dramatically over the past decade, with notable growth in Serie A. By comparing attendance data between the 2014-2015 and 2023-2024 seasons, this analysis examines how Serie A stacks up against Europe's other top leagues—Premier League, La Liga, Bundesliga, and Ligue 1—and highlights the factors driving this resurgence.
Analyzing the numbers provided by Transfermarkt.com, the top 5 European football leagues have experienced varied trends in match attendance and stadium occupation rates. Serie A stands out as a leader in growth, achieving a remarkable 28% increase in average attendance, rising from 22,213 to 30,916 spectators. This was accompanied by a substantial improvement in stadium occupation rates, which surged from 60.20% to 78%, signaling a revitalization of Italian football culture and heightened fan engagement.
Ligue 1 follows closely, with a significant 23% increase in attendance, growing from 20,918 to 27,023. Its stadium occupation also rose from 68.20% to 83.10%, reflecting a growing appeal of French football among fans. Meanwhile, La Liga experienced moderate progress, with an 8% rise in attendance (from 26,791 to 29,076) and improved occupation rates moving from 72% to 81%.
In contrast, the Premier League maintained stability with negligible growth in attendance (0%), yet stadium utilization increased from 90.30% to 96.40%, showcasing its consistent ability to attract full-capacity crowds. Conversely, the Bundesliga experienced a 10% decline in attendance (from 43,267 to 39,506), yet managed to sustain high capacity usage, which grew slightly from 92.30% to 96.20%.
Important Note: The decline in the average attendance of Bundesliga matches comparison between year 2014 and 2024 is primarily due to the relegation of historically significant teams such as Hamburg, Schalke 04, and Hertha Berlin. These teams are known for having high-capacity stadiums and consistently high attendance per match that is significantly above the bundesliga average attendance.
The Top 6 Impact in Serie A
Analysing the performance on the stands of the top 6 teams in Serie A to understand the breakdown of the high attendance figures, we can see that AC Milan achieved an extraordinary increase, nearly doubling its average from 37,861 (49.9%) to 72,000 (94.8%), highlighting the club’s efforts to reinvigorate its fanbase and improve matchday experiences. Similarly, Inter Milan saw an impressive growth, with attendance rising from 45,538 (60.0%) to 72,838 (95.9%), showcasing the success of its sporting achievements and marketing strategies.
SSC Napoli continued to attract strong attendance figures, improving from 38,707 (70.7%) to 46,977 (85.8%), emphasizing the appeal of the club’s consistent performances and going back to be a top contender for the league title. AS Roma also witnessed a significant rise, with average attendance increasing from 35,182 (49.8%) to 62,925 (89.1%), reflecting the club’s effective fan engagement initiatives and its ability to draw larger crowds, Same as SS Lazio that improved in its match attendance from 21,063( 29,8%) to 43,716 (61,9%)
Meanwhile, taking into consideration the stadium’s capacity, Juventus maintained its high attendance levels, with marginal growth from 38,690 (93.2%) to 39,345 (94.8%). Reflecting steady fan loyalty.
These trends underscore the revitalization of Serie A clubs and their ability to reconnect with fans, reinforcing the league's resurgence as a premier destination for live football.
Season tickets prices
Comparing data published by Calcio Finanza on the cheapest season ticket prices for Serie A teams and data from Diario Marca on La Liga's season ticket price ranges, there is a notable similarity between the two leagues. The average price for the cheapest season ticket in Serie A is €297, while in La Liga, it stands at €285. This comparison highlights a close alignment in affordability for fans across both leagues.
In addition to competitive pricing, several Serie A teams have introduced innovative strategies to enhance season ticket offerings and provide new ways for fans to secure tickets for both domestic and European competitions. These initiatives include offering the option to purchase season tickets in installments, half season tickets options, introducing subscription-based memberships, and selling ticket packs at discounted rates. Generally speaking, multi-tickets packs are often targeted at matches with expected low attendance, such as midweek games or those against lower-ranked opponents.
These strategies not only aim to make tickets more accessible to fans but also help clubs optimize attendance and revenue throughout the season and improve estimations and targets for the upcoming seasons, instead of focusing on pre-season campaign to attract season tickets purchasers during the summer.
Match-day revenue growth
Between the 2014-2015 and 2023-2024 seasons, Serie A clubs have made significant strides in increasing matchday revenues, as highlighted by Deloitte's Money League reports. In 2014-2015, Juventus led with €41 million in matchday income (15% of total revenue), followed by AC Milan (€24.9M, 10%), Napoli (€20.9M, 13%), and Inter Milan (€15.7M, 11%).
By 2023-2024, AC Milan surged ahead with €87 million (21% of total revenue), driven by improved fan engagement and stadium utilization. Inter Milan followed closely with €81 million (22%), reflecting their focus on maximizing matchday potential. Juventus, while stable, increased to €55 million, maintaining 15% of revenue.
Factors Driving Growth in Serie A
New ownership, new blood, new strategies
In recent years, Serie A has emerged as one of Europe’s most dynamic leagues, attracting substantial new investments and undergoing significant changes in club ownership structures. The influx of foreign and domestic investment into Italian football has introduced fresh visions for team management and league-wide growth. These investments have had both direct and indirect impacts on the ecosystem of Serie A, enhancing its global profile and competitiveness.
AC Milan, one of the league’s most historical clubs, is now owned by RedBird Capital Partners, an American investment firm specializing in sports and entertainment ventures. Their acquisition has brought a renewed focus on modernizing operations, expanding global reach, and enhancing the club's brand image. Inter Milan recently came under the ownership of Oaktree Capital Management after financial challenges faced by the previous owners, Suning Holdings Group. Oaktree's involvement has provided financial stability and a roadmap for the club's continued competitiveness. Meanwhile, AS Roma is owned by The Friedkin Group, an American consortium that has actively worked to strengthen the club's on-field and commercial performance, including investments in the squad and fan engagement.
Several other Italian clubs have also benefited from foreign ownership. Fiorentina is owned by Rocco Commisso, an Italian-American businessman who acquired the club in 2019, who has invested heavily in both the squad and plans for a new stadium, signaling a commitment to long-term growth. Bologna is owned by Joey Saputo, a Canadian businessman who also owns Montreal Impact in Major League Soccer, while Spezia Calcio was acquired by Robert Platek, an American investor, in 2021. Parma, another historic Italian club, is co-owned by Kyle Krause, an American entrepreneur who purchased the club in 2020 with ambitions to return it to its former glory.
Another intriguing addition to the Italian football landscape is Como 1907, a club that has seen a significant revival under new ownership. Como is owned by SENT Entertainment, a group led by Indonesian billionaires Robert and Michael Hartono. The Hartono brothers are focused on the long-term development of the club, including infrastructure upgrades and the pursuit of higher-level competition, potentially paving the way for Como to establish itself as a competitive force in Italian football.
This wave of foreign ownership in Serie A and across Italian football aligns with a broader European trend, as investors recognize the potential for growth in this market. Modernization efforts in stadium infrastructure, improved governance, and the global appeal of historic clubs have made Serie A an attractive prospect for investors. These ownership changes have not only injected capital into individual clubs but also contributed to the revitalization of the league as a whole.
The impact of winning on the pitch
Despite the numerous factors that can influence match attendance for football clubs, it is undeniable that the principal driver of such growth is the team's performance on the pitch. In recent years, Serie A clubs have shown significant improvement both domestically and internationally, marking a departure from the prolonged dominance of Juventus in local competitions.
The resurgence of AC Milan, which won the Serie A title in 2021-2022 after an 18-year absence, demonstrated the recovery of one of Italy’s most iconic clubs. This achievement signaled not only a return to domestic glory but also consistent qualification for the UEFA Champions League, Europe’s most prestigious competition. Similarly, Napoli's triumph in 2022-2023, ending a 34-year wait for the Scudetto, highlighted the league’s growing competitiveness and the revival of clubs with rich histories.
On the European stage, Serie A clubs have further solidified their reputation. Inter Milan reached the UEFA Champions League final in 2022-2023, showcasing their ability to compete with Europe’s elite. AS Roma added to the league’s accolades by winning the UEFA Conference League in 2021-2022 and finishing as runners-up in the Europa League. Meanwhile, Fiorentina reached the UEFA Conference League final for two consecutive seasons, and Atalanta capped off last season with a Europa League victory.
These on-pitch successes have had a direct and positive impact on the brand image of Serie A clubs, boosting their attractiveness to fans and potential sponsors. As these teams continue to thrive in domestic and international competitions, they promise to draw even greater fan engagement and fellowship in the years to come.
New Stadium projects
Currently, several Serie A clubs are in the process of constructing new stadiums or renovating existing ones. Investing in these modern facilities aims to capitalize on the full potential of stadium offerings, whether by enhancing the fan experience or maximizing the use of VIP areas to boost overall revenues on both match days and non-match days.
Improving stadium infrastructure also allows clubs to redefine their fan engagement strategies and introduce new services that can have a significant impact in both the short and long term. These investments not only improve matchday experiences but also position clubs for sustained growth and financial stability in the future.
List of recent projects:
· AC Milan & Inter Milan: Planning a new joint stadium to replace San Siro.
· AS Roma: Building a 52,000-seat Stadio della Roma, expected by 2027.
· Fiorentina: Renovating Stadio Artemio Franchi, completion by 2029.
· Bologna: Upgrading Renato Dall’Ara for Euro 2032, ready by 2027.
· Atalanta: Final phase of Gewiss Stadium renovation.
· Cagliari: New €157.4M stadium expected to operate in the 2025–26 season.
· Salernitana: Constructing a 35,000-seat stadium, starting in 2024.
· Lazio: Redeveloping Stadio Flaminio into a 40,000-seater, timeline TBD.
Conclusion
The steady and remarkable rise in Serie A on the pitch, in the offices, and at the stadium signifies a renewed interest in Italian football, driven by modernized facilities, fan engagement, and cultural resurgence. While challenges remain—such as closing the revenue gap with other top leagues mainly by ordinary revenues from TV rights—Serie A's upward trajectory offers a promising outlook.
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