Media and beverages score at world cup

• The 2026 World Cup’s expanded format is expected to drive higher viewership and monetization opportunities across media, generating more than $500 million in advertising revenue.
• About 44% of U.S. consumers planned to engage with the tournament, with most activity concentrated in TV, streaming and social media, according to a survey.
• Benefits are likely to extend across sectors, with the beverage sector benefiting most in countries whose teams made the finals.
• The broader economy is expected to see a short-term lift, with FIFA estimating a $40.9 billion boost to global GDP.

The 2026 FIFA World Cup has been the largest in the tournament’s history, with more participating teams, matches and hosting venues. Morgan Stanley Research has forecast that this expanded scale, combined with a fan base that skews younger and more affluent, translates into increased engagement and spending. This creates opportunities in media and entertainment, and across consumer sectors and the broader economy.

This year’s games included more than 100 matches across 48 teams taking place in the U.S., Mexico and Canada. More than 6 million tickets have been sold across the tournament, nearly twice the number in the previous World Cup in Qatar.

Consumer interest is high: According to a Morgan Stanley AlphaWise survey, 44% of U.S. consumers planned to engage with matches or related events, with 30% of consumers planning to follow the games primarily through TV and streaming.

“The combination of increased advertising inventory, favorable time zones for European and American viewers, rising sponsorship demand and improved streaming monetization could result in a more robust revenue opportunity across a broad set of public equities,” said Sean Diffley, who leads Morgan Stanley's Media & Entertainment and Cable & Telecom Equity Research teams.

Despite persistent inflation worries, consumers expected to spend more as a result of the World Cup. According to the AlphaWise survey, about 70% of those planning to follow the tournament expected to increase spending across some categories, including food and non-alcoholic beverages (32%), food delivery (28%) and streaming services (28%).

“Engagement and spending concentrated in digital and at-home viewing channels could see meaningful increases,” Diffley said.

Here’s a look at the World Cup’s effect on different sectors and the broader economy:

The World Cup remains one of the most-watched live media events globally. All told, broadcast networks with rights to the tournament could generate more than $500 million in advertising revenue, supported by strong viewership and premium live-event pricing.

“Nothing captures viewer attention more than sports and live events, which carry urgency, unpredictability and a sense of communal participation,” said Diffley. “We think the 2026 FIFA World Cup will have multiple winners across the Media & Entertainment ecosystem.”

The impact extends beyond traditional broadcasting and streaming. Higher attendance and activity around host cities support:

• Revenue from resale of tickets
• Outdoor advertising, driven by increased foot traffic
• Experiential hospitality, as stadium operators and partners monetized premium fan experiences

Large sporting events typically drive higher social consumption of beverages, and the World Cup is no exception. Global beer volumes could see a boost, said Sarah Simon, who covers European Consumer Staples at Morgan Stanley Research. However, the extent of that increase may vary significantly by country. Historically, most of the uplift comes from markets whose teams advance to the later stages, when engagement and national enthusiasm tend to peak.

Morgan Stanley Research estimated that each game played in the quarter finals and beyond could have a positive boost to full-year beer volume growth for each of the countries involved.

“Incremental uplift is concentrated in countries that make deep tournament runs – most likely driven by greater publicity and national fervor,” said Simon.

Beyond individual industries, the World Cup also is expected to have a short-term impact on the broader economy. FIFA estimated a boost of $40.9 billion for global GDP, with the U.S. accounting for $17.2 billion of the total.

Morgan Stanley Research forecast a slight increase in consumer spending in travel, hospitality and food services, and a potential addition of 20,000 jobs in June, though a recent strong employment report showed some of that hiring likely started even earlier in May.

“We expect the World Cup to have only a minor effect on growth,” said Morgan Stanley U.S. Economist Heather Berger. “However, boosts to consumption and payrolls in June could be more noticeable.”

CRC# 5725303  07/2026