Juventus is considered one of the biggest football clubs globally, standing alongside Real Madrid and Barcelona in Spain, as well as Manchester United, Liverpool, and Arsenal in England, and Bayern Munich in Germany.
However, according to the latest 2023 figures from Forbes, Juventus is ranked 11th, trailing behind the aforementioned teams, along with others like Tottenham Hotspur, Chelsea, and Paris St Germain.
The value of a club is determined by what a purchaser is willing to pay for it, and that figure can fluctuate. However, a more significant metric to consider is revenue.
Real Madrid, the richest club, had a revenue of $807 million, while Juventus had only $453 million, highlighting a substantial gap.
This revenue disparity can be attributed to various factors such as TV rights, sponsorships, and Champions League revenue. Nevertheless, one undeniable factor is the impact of brand awareness, which plays a crucial role in driving revenue.
When you visit places like a bar in Ibiza, a stall in Indonesia, or a store in Malaysia, you tend to see merchandise from the same clubs like Barcelona and Manchester United. Juventus merchandise is not as prominently displayed.
For instance, during a recent visit to a supermarket in Norway, a rack full of club calendars featured the usual big clubs, West Ham United, and Borussia Dortmund, but not Juventus.
While this is anecdotal, it illustrates the importance of brand awareness and where Juventus falls short.
In contrast, in other industries such as sportsbooks, you’ll see global brands like 1xbet India or McDonald’s in Italy. This level of brand awareness is not as evident for Juventus, except in certain key markets.
The revenue generated from brand awareness is substantial; Real Madrid, for example, outsells Juventus in shirt sales almost two to one.
Tottenham Hotspur initially was looking for naming rights for their stadium but they soon realised that keeping the name Tottenham Hotspur Stadium would do far more for brand awareness in America than if it was the Google Stadium or Amazon Stadium because it plants the name Tottenham Hotspur in American fans names.
Juventus could have done the same with the Allianz Stadium but the lure of quick easy money was most likely viewed as a better means of raising funds but that can be viewed as a short-term view as opposed to a long-term vision.
Various factors contribute to this, including the Premier League’s monopoly on TV money due to effective marketing. Similarly, Spanish clubs leverage financial opportunities effectively. However, Juventus seems to lack a diverse range of revenue streams.
To compete with financial giants in Spain, England, and Germany, Juventus must enhance its efforts to globalise the Juventus brand. Failure to do so could result in a continued financial lag behind other traditional big clubs, impacting them in the long term.
Considering the emergence of financially potent clubs like Manchester City in just a decade, Juventus can and must improve to remain competitive.
