Penn State University football reported a revenue stream of $9.6 million in program, novelty, parking and concessions sales for the 2022-23 fiscal year, an increase from $7.82 million the year prior, according to the athletic department’s annual financial report released Tuesday.
While the athletic department does not attribute the increase in revenue to any specific change, the reporting year does coincide with the decision to sell beer at Beaver Stadium starting October 1, 2022, for the third home game of that season, according to StateCollege.com, which added the exact total was $9,610,869, up from $7,824,199 in 2021-22. Moreover, the mark of $9.6 million is up from $6.5 million during the 2019-2020 year, the last season prior to COVID-19.
Penn State University football reported a revenue stream of $9.6 million in program, novelty, parking and concessions sales for the 2022-23 fiscal year, an increase from $7.82 million the year prior, according to the athletic department’s annual financial report released Tuesday.
While the athletic department does not attribute the increase in revenue to any specific change, the reporting year does coincide with the decision to sell beer at Beaver Stadium starting October 1, 2022, for the third home game of that season, according to StateCollege.com, which added the exact total was $9,610,869, up from $7,824,199 in 2021-22. Moreover, the mark of $9.6 million is up from $6.5 million during the 2019-2020 year, the last season prior to COVID-19.
The most recently completed football campaign marks the first full year of alcohol sales at Beaver Stadium. Figures from 2023-24 will not be released until January or February of 2025, following the completion in June of the ongoing fiscal year.
“Penn State Athletics is continuously looking for ways to provide additional amenities to fans to improve the game day experience,” the university said in a news release announcing the sales, as reported by StateCollege.com. “A 2021 Beaver Stadium Study suggested there was an ever-growing need to improve the fan experience and amenities in a historical venue such as Beaver Stadium — with one of those recommendations being the addition of the sale of alcohol in stadium.”
Penn State officials projected that beer sales for a full season would result in roughly $2.5 million in additional revenue. At the time, Beaver Stadium was the ninth of 14 Big Ten schools to sell alcohol to the public. It is believed that only three conference schools remain among those who don't.
