Gianluigi Donnarumma AC Milan (
Gianluigi Donnarumma (

Revenue from the Stadium AC Milan 2016 – Milan is poised to end the year 2016, probably the last one under Fininvest’s control, owned by the Berlusconi family, with turnover from the stadium doubled compared to the €16.68 million from the year 2015. According to Calcio e Finanza estimates, AC Milan should close 2016 with revenue from the stadium reaching over 30 million. The 16 championship games played at the San Siro Stadium in 2016 have so far generated a total of 19.8 mln in revenue for the club headquartering in Via Aldo.

2016 revenues-Milan stadium
2016 revenues-Milan stadium

On top of this, revenue for the two home games played by AC Milan competing for the Italian Cup between January and March 2016, and a percentage from the revenue of the final on the 21 of May at the Olimpico Stadium in Rome against Juventus need to be added for a total of 1.7 million.

2016 revenues-Milan stadium
2016 revenues-Milan stadium

21.5 million is only part of the overall balance, additional revenue to count in from the participation in the International Champions Cup, in which AC Milan played against Bayern Monaco (July 28, 2016 at Soldier Field in Chicago), Liverpool (July 31 at Levi’s Stadium in Santa Clara) and Chelsea (4 August at US Bank Stadium in Minneapolis), from the friendly match of July 16 at Bordeaux, the Trofeo Tim on August 11 with Celta Vigo and Sassuolo, and the revenues from the upcoming 4 matches at San Siro in Serie A 2016/17, including the derby with Inter on November 20.

From the 2015 summer friendly matches, including the International Champions Cup, AC Milan earned about €5 million in revenue. In 2016 the turnover from the ICC involvement should be larger, given that the tournament organized by the American billionaire Stephen Ross has seen its revenue increasing compared to the previous edition. To be safe, however, we have estimated that in 2016 AC Milan’s revenue from friendly matches will be the same figure of 2015, thus 5.09 mln.

The irrepressible joy of Adriano Galliani after Milan's victory over Juventus (
The irrepressible joy of Adriano Galliani after Milan’s victory over Juventus (

Also conservative are the revenue estimates for the next four home games at the San Siro Stadium. For the derby with Inter, which in the last two home games for AC Milan (November 23, 2014 and January 31, 2016) has always generated for the rossoneri (red-and-blacks) more than €3 million, we conservatively estimated revenues not exceeding 3 mln. Although it is likely that the results will be largely higher than the estimates, given the €3.7 mln collected in the match against Juventus won 1-0 at San Siro Stadium.

For the matches against Pescara (October 30), Crotone (December 4) and Atalanta (December 18), we took a safe revenue estimate of €0.5 mln. Although it must be highlighted that in 2016 only against Lazio last September 20 revenues were below this margin (26,464 spectators for proceeds of approximately 469 thousand euros).

In total, by the end of the year, another €4.5 million should be added in AC Milan’s revenue stream, bringing the final balance to 31.09 mln, doubling the 16.68 mln in 2015.

Revenue from the AC Milan stadium 2016, the reasons for the boom

Why was there this surge in revenues from the stadium? The first (and certainly most important) reason is linked to the higher presence of big matches in the calendar year 2016 compared to 2015. This is due to the fact that Milan ended the year on December 31, and therefore the schedule of the Serie A calendar influenced the distribution of big home games during the various financial statements.

In 2015, for example, Milan played only two big matches in the home field: one with Napoli on October 4 (€1.6 mln revenue) and one against Roma on May 9 (€0.97 mln revenue).

In 2016, however, AC Milan has already played three games on the home field San Siro registering as sold out or almost: the derby against Inter on January 31 (2015/16 season), the match against Juventus on April 9 (2015/16) and another one with Juventus on October 22 (2016/17 season).

These three games by themselves have impacted Milan’s revenue by €10 million, with a potential supplementary €3 mln (maybe more) from the derby with Inter on November 20.

Revenues stadium AC Milan 2016, the decline in subscribers

Despite the doubling revenue expected from the stadium business for the year 2016 and the box office record set during the match on October 20 against Juventus (€3.69 mln thanks to the 75,829 spectators at the San Siro), the average audience for Milan’s home games at the beginning of this season (38,918 average viewers in the first five home games) is slightly higher than the one from the 2015/2016 season (37,861 average viewers), while it is lower than the average for games played from January to May (40,357 average viewers).

In particular, Milan subscribers in 2016/2017 decreased to 14,905 compared to the 19,527 in the 2015/2016 season and the 19,504 in the 2014/2015 season.

The victory over Juventus in a packed San Siro and the current second place in the Serie A, however, could reignite the enthusiasm of AC Milan fans, bringing the revenue of the next four games at the San Siro in 2016 over the €4.5 million conservatively estimated by Calcio e Finanza.