Media and Beverages Score at World Cup

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

This year’s games will include 104 matches across 48 teams taking place in the U.S., Mexico and Canada. About 6.7 million tickets are being sold across the tournament, nearly twice the number in the previous World Cup in Qatar.

Consumer interest in the tournament is high: According to a new Morgan Stanley AlphaWise survey, 44% of U.S. consumers plan 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,” says Sean Diffley, who leads Morgan Stanley's Media & Entertainment and Cable & Telecom Equity Research teams.

Despite persistent inflation worries, consumers expect to spend more as a result of the World Cup. According to the Alpha Wise survey, about 70% of those planning to follow the tournament expect 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 over the next two months as the games take place,” Diffley says.

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

Media and Entertainment

The World Cup remains one of the most watched live media events globally. 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,” says 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 could support:

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

Beer

Large sporting events typically drive higher social consumption of beverages, and the World Cup is no exception. “Global beer volumes could see a boost during the tournament, particularly as fans gather to watch matches in groups,” says 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 estimates 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,” says Simon.

Broader Economy

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

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

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