ITF Press Release, July 20, 2023

The International Tennis Federation (ITF) today announced its 2022 financial results, reporting that it increased revenues by 47.6% year-on-year to $98.3 million [2021: $66.6 million] – exceeding pre-Covid revenues by 10.8% [2019: $88.7 million].

The world governing body of tennis was able to convert the majority of this income into $85.0 million of contribution to the global game last year, up by 30.2% from $65.3million in Covid-impacted 2021. The ITF’s mission is to deliver tennis for future generations and this includes reinvesting significantly in the sport around the world.

The ITF spent $12.0 million on international tennis development, marking a substantial 44.9% increase from the previous year [2021: $8.3 million]. This increased funding supported the work of the ITF’s member nations in increasing participation and developing talent from the grassroots up.

The ITF increased post-tax profits from its operating activities by $13.9 million to $5.6 million in 2022 from a pandemic-impacted deficit of $8.3 million in 2021. The ITF Board chose to invest $3.0 million after tax into strategic projects (including the World Tennis Number and Balanced Calendar Project) and its investment portfolio produced a negative $5.0 million return in 2022, reflecting global financial market performance.

The ITF maintains significant reserves as part of underpinning its financial sustainability and for use on strategic projects and investments where necessary. As of 31st December 2022, these totalled $40.2 million.

ITF2024 strategy delivering tangible growth

The introduction of ‘ITF2024’, the ITF’s long-term plan for sustainable growth announced in mid-2016, has driven a significant upturn in the ITF’s financial performance and enabled record levels of funding for the global game. The ITF’s reinvestment in tennis has grown by 95.4% or $41.5 million since ITF2024 was launched [2015: $43.5 million -> 2022: $85.0 million].

ITF2024 has focused on eight priorities, which it has framed as Opportunity (including the World Tennis Tour for men, women and juniors, the UNIQLO Wheelchair Tennis Tour, the World Tennis Masters Tour and Beach Tennis World Tour), Development, Davis Cup & Billie Jean King Cup by Gainbridge, Olympics & Paralympics, Integrity, Investment, Partnerships and Communications.

The ITF Annual Review also reports that in 2022:

• Junior Tennis Initiative (JTI): The ITF’s Junior Tennis Initiative, aimed at introducing tennis to children worldwide, saw impressive results. A total of 251,737 children (51% boys, 49% girls) were introduced to tennis, representing an 18% increase from the previous year. With 142 active JTI nations, matching the record set in 2021, the initiative provided playing opportunities at 2,994 primary schools and tennis clubs, fostering grassroots development.

• ITF World Tennis Number and Participation: The ITF has assigned 1.5 million players with an ITF World Tennis Number, facilitating tracking and ranking of players globally. The association shared 23 million match records with 159 National Associations, providing a potential reach of 90% of players worldwide. This data-driven approach enables the ITF and member nations to assess player performance and enhance engagement.

• ITF Academy: The ITF Academy experienced substantial growth, with more than 260,000 total users, a 16% increase from the previous year. Offering 200 online courses and material in 11 languages, the academy served as a central learning hub for 100 National Associations, a notable 43% increase from the previous year. India and Argentina saw the most registered users of the platform in 2022.

• ITF World Tennis Tour – the main artery to the highest level of the game: The 2022 ITF World Tennis Tour showcased impressive figures, with 10,216 players participating in 1,059 tournaments, split evenly across the men’s and women’s game (526 and 533 tournaments respectively) and held in 65 countries. They played for a record $25 million in total prize money in 2022. The tour provided crucial opportunities for players to compete, develop, and progress in their careers.

• Records set in Davis Cup and Billie Jean King Cup competitions – The ITF’s World Cup of Tennis events both enjoyed record participation, with 145 nations competing in Davis Cup and 110 nations in Billie Jean King Cup by Gainbridge. The revamped Finals of both events continued to settle into their new formats and attract strong TV viewership and good fan engagement in stadiums and online, thanks in part to inspirational first-time triumphs for Canada in Davis Cup and Switzerland in the Billie Jean King Cup.

For Davis Cup, the ITF and the ATP forged an unprecedented alliance which means that the Davis Cup Finals and Qualifier ties are now an official part of the men’s calendar. For Billie Jean King Cup, the ITF achieved its ambition of offering women competing in the Finals equivalent prize money to that available in Davis Cup. The ITF’s goals for equity in Billie Jean King Cup are fully supported by its commercial partners Gainbridge, who joined as the event’s new title sponsor in 2022, and Tory Burch, who came on board as official outfitter.

• Tennis for everyone – Through its Advantage All gender equality programme the ITF is committed to levelling the playing field for women and girls across all areas of tennis. In addition to investing to support a balanced calendar for the ITF World Tennis Tour in 2022 and equivalent prize money between the men and women’s World Cup of Tennis competitions, the 2022 ITF Annual General Meeting voted for the ITF Board to consist of a minimum of five women and five men from 2027 onwards as a further important step towards gender balance in the global leadership of tennis.

David Haggerty, ITF President, said:

“The ITF’s mission is about delivering tennis for future generations and ensuring the sport thrives in all corners of the world. That’s the unique and important role the ITF plays and over the last year we’ve supported the global game from the playground to the podium.

“2022 produced many highlights as we bounced back from the pandemic, with Davis Cup and Billie Jean King Cup enjoying record participation and prize money through to our Junior Tennis Initiative reaching 18 percent more young people. We detail all aspects of the ITF’s activities in our Annual Review.

“Everything is guided by our ITF2024 strategy for sustainable growth, and I’m delighted it’s had such an impact. The ITF is now able to contribute nearly twice the funding for the global game than before we introduced the strategy in mid-2016. The ITF Board will continue to make decisions on where investment is needed, from our sport’s grassroots to its highest levels.

“The ITF’s finances are robust, we maintain significant reserves and we have a strong pipeline of commercial developments that will help support the game globally. Now it’s about the future and we have an ambitious vision for the game we love. I’m excited by what’s in front for tennis, especially as a sport that benefits so much from a real commitment to gender parity and international development.”

Kelly Fairweather, ITF CEO, said:

“At the heart of the ITF’s mission to grow tennis around the world is our belief that tennis is everyone’s game. Within our ITF2024 strategy, we are working to ensure tennis welcomes all, regardless of age, gender, playing standard, physical ability or geography.

“Few sports are as truly global as tennis and this really helps our efforts to ensure it thrives in the future. It is highly visible at the elite level, with the top tier of the game – the Grand Slam tournaments, ATP and WTA tours, Davis Cup and Billie Jean King Cup by Gainbridge – providing ample inspiration and role models for fans and aspiring players of all abilities, as does the four-yearly spectacle of the Olympic and Paralympic Games.

“We are committed to using this global platform to grow the game, both through the staging of major events and our reinvestment activities. In 2022 we surpassed our pre-pandemic revenues by more than 10 percent and this helped us to reinvest $85 million into tennis. This included spending $12 million on international development activities to further the game and investing $19 million in providing opportunities for people to compete at all levels around the world, which is a key part of the role of the ITF.”