Approximately 20 percent of a typical cable bill in the United States goes to sports channels, which pay teams and leagues for the right to show their games.
Sports therefore are receiving a large subsidy from cable customers who don't watch them.
Cable is going towards disaggregation, which means sports like everything else will be worth what the actual audience is willing to pay for them.
The North American sports business is valued at half a trillion dollars. Annual revenue from ticket sales, broadcast rights, merchandise, and other sources is about $61 billion.