10 Fast-Growing Franchises in North America

10 Pro Sports Teams that Grew the Most 2023–2024

Several pro sports teams experienced explosive growth between 2023 and 2024, both financially and in fan base size. Whether driven by surprising (read: long-overdue) playoff runs, the arrival of global superstars, or strong community engagement, these teams across the NFL, NBA, NHL, MLB, and MLS are on another level—literally. Here’s the countdown:

10. Florida Panthers (NHL)

Team Revenue: +41% | Social Media Following: +29%

Kicking off the top 10 are the Florida Panthers, who saw their team revenue rise by 41% to $775 million in 2024. The Florida Panthers saw a surge in popularity after their 2023 Stanley Cup Finals appearance, and again in 2024 with a second, successful drive for the Cup.

With their increasing success in the NHL, the Panthers have also invested heavily in their fan base and community. A growing online presence coupled with reinvigorated in-game entertainment will ensure the team maintains its value over time. (You can’t win the Stanley Cup every year, realistically.)

Their overall growth of 35% includes a gain of 114,797 new Instagram followers, solidifying their spot as a fast-growing NHL franchise.

9. Kansas City Chiefs (NFL)

Team Revenue: +13% | Social Media Following: +58%

Led by superstar quarterback Patrick Mahomes, the Kansas City Chiefs dominated the field in 2023 and 2024, securing back-to-back Super Bowl victories. Off the field, the team no doubt benefited from the “Taylor Swift effect,” as Swift’s relationship with tight end Travis Kelce drew a new and passionate audience to games, along with 1.5 million new Instagram followers.

Beyond the influence of stars on and off the field, Kansas City keeps engaged with its based and consistently ranks in the top for merchandise sales and social media interactions, allowing for bigger and better sponsorship deals year after year.

The Kansas City Chiefs are the only NFL team on the list, and saw a 13% revenue increase in 2023–2024, pushing their value to $4.85 billion.

8. Atlanta Hawks (NBA)

Team Revenue: +68% | Social Media Following: +4%

The Atlanta Hawks’ growth was boosted by their consistent playoff appearances and the continued development of young stars like Trae Young. Marketing initiatives that include a focus on digital content has allowed the team to reach a younger audience as well.

Another key factor in the Hawks’ engagement strategy is community involvement in Atlanta. This includes initiatives like “Hawks at Home,” originally launched during the pandemic, which offers free virtual basketball and overall fitness programming virtually for free in the Atlanta area.

The Hawks posted a 36% growth rate, with their team revenue rising by 68% to $3.325 billion in 2023–2024. They’ve also added 96,813 new followers, a 4% increase, as the team continues to expand its reach and influence both on and off the court.

7. Minnesota Timberwolves (NBA)

Team Revenue: +50% | Social Media Following: +26%

Valued at $2.5 billion by 2024, the Minnesota Timberwolves saw a 38% growth rate over the 2023–24 period. This increase can largely be attributed to their 2022–23 playoff push and rising stars like Anthony Edwards, who has become a fan favorite and shown significant leadership potential on the team. All-in-all, the Timberwolves attracted 771,186 new social media followers (a 26% rise).

The team has also made significant investments in stadium infrastructure and game-day experience at the Target Center. They’ve also shown a commitment to long-term competitiveness in the Western Conference, and player development, by partnering with the innovative training facility, Mayo Clinic Square.

6. CF Montréal (MLS)

Team Revenue: +15% | Social Media Following: +66%

An outlier, Canadian team on this list, CF Montréal’s value hit $430 million in 2024 with help from a 15% revenue increase in 2023, giving the team a 40% total growth rate. The team’s social media presence grew by 66%, adding over 109,000 new followers. Along with the increasing popularity of professional soccer in North America, CF Montréal performed well in the MLS Eastern Conference in 2023, continuing to build a strong local fan base. The development of Stade Saputo and ever-improving match day initiatives have been major factors in this as well.

Another factor that can’t be discounted is the team’s community engagement. Initiatives like “Goal’s for Kids,” which donates to a local children’s hospital every time the team scores a goal has connected the team more closely to the city. Given Montreal’s multicultural populace, the CF Montréal also actively promotes diversity and inclusion with marketing efforts and themed game days like “Around the World” and “Pride Match.”

5. Charlotte Hornets (NBA)

Team Revenue: +76% | Social Media Following: +6%

The Charlotte Hornets experienced a 76% revenue increase in 2024, raising their value to $3 billion. Their social media growth remained steady, with a 6% rise in followers (adding 134,119 new fans). A lot of this can be attributed to the team’s rebuild effort after several years’ of struggling to perform. Despite having its challenges, a highlight of the rebuild is the emergence and continued rise of LaMelo Ball. Ball’s flashy style of play has drawn attention to the team and led to stronger fan engagement.

The team has also perhaps benefitted from ownership turnover, with Gabe Plotkin and Rick Schnall taking over from Michael Jordan in 2023. Plotkin and Schnall have reinvigorated the business-side of the team with sponsorship deals, marketing strategies, community outreach, and investment in infrastructure at the Spectrum Center.

4. Inter Miami CF (MLS)

Team Revenue: +72% | Social Media Following: +15%

Inter Miami CF’s popularity (and revenue) skyrocketed in 2024, primarily due to the high-profile signing of Lionel Messi in mid-2023. The club’s value soared past $1 billion, with revenue increasing by 72% in a year alone. Messi’s influence brought in an incredible 2.2 million new followers, more than any other franchise on this list (including the Swift-effected Kansas City Chiefs), fueling a total growth rate of 44%.

Messi’s influence has arguably been more profound off the field than on it, as it positioned Inter Miami as a global brand receiving unprecedented attention. Bringing in high-value sponsorship deals and increased merchandise sales, and bolstering excitement for the construction of Miami Freedom Park, the team’s new stadium.

3. Denver Nuggets (NBA)

Team Revenue: +75% | Social Media Following: +21%

Fresh off their first-ever NBA Championship in 2023, the Denver Nuggets enjoyed a 75% jump in revenue year over year, pushing their worth to $3.375 billion by 2024. Their championship run also boosted their social media following by 48%, adding over 505,000 new followers fueled by the solemn star and two-time MVP, Nikola Jokić.

With a championship under their belt, the Nuggets were also able to secure new media deals and increased sponsorships. Investment in the Ball Arena also paid dividends when the team experienced record attendance over the 2023–24 season. Initiatives like Nuggets for a Cause have ensured the team also maintains a presence in the local community in Colorado.

2. Philadelphia Union (MLS)

Team Revenue: +17% | Social Media Following: +91%

The Philadelphia Union experienced rapid growth in 2024, with the franchise value rising to $670 million. With consistent performances on the field and deep playoff runs, the team has remained a leader of the pack in the MLS. This on-field success has translated into a 54% overall growth rate, with a particularly impressive 91% surge in social media followers last year. The Union also added 290,531 new followers across platforms, driven by an engaged and expanding fan base both locally and nationally.

The Union’s growth has been bolstered by investments in youth development and community outreach. The Philadelphia Union Foundation has built mini-pitches in underserved communities, and provided soccer programs to local youth. In addition to their philanthropic efforts, the Union’s strong engagement is reflected in their Sons of Ben supporter group. Sons of Ben have been a major key in fostering a passionate fan base at every game at Subaru Park.

1. FC Dallas (MLS)

Team Revenue: +25% | Social Media Following: +96%

FC Dallas topped the list with an astounding 60% overall growth rate in 2024. Their revenue increased by 25%, and the team value reached $500 million. The club also saw an unprecedented 96% jump in social media followers, gaining 158,360 new fans.

Key to this growth is the team’s focus on youth development through their academy, which has produced talents like Weston McKennie, Ricardo Pepi, and Reggie Cannon for the team. This investment in homegrown talent has not only amplified on-field performance, but has also built an incredible foundation for future stars. This development strategy has attracted significant attention from international clubs, raising FC Dallas’ profile within the global soccer community as well as in North America.

FC Dallas has also endeavored to grow its online presence over the last few years through content creations and fan engagement. The team has cultivated strong community ties as well with the FC Dallas Foundation. The Foundation aims to improve lives through soccer by providing opportunities for underserved youth. This thriving academy, engaging marketing strategy, and strong community ties have led to a local fan base that has shown FC Dallas to be a model for growth in the MLS and professional sport in general.

Game Changers: How These Teams Dominated Growth in 2023–2024

These franchises ensured growth through key player signings, major media attention, and enhanced fan engagement strategies. With explosive social media followings and massive increases in franchise value, these teams are not just leading on the field but setting the pace for future success across all professional sports.

Infographic with the fastest growing pro-league teams in North America.

Sources:

We used Forbes to gather each team’s value and year-over-year revenue growth data from 2023 and 2024. We analyzed social media followings using Social Blade, focusing specifically on Instagram follower increases.