Masters’ unique broadcast strategy pays off with 14 million viewers on CBS

The Paramount-owned network saw an eight per cent viewership increase on last year’s final round, with the average audience for Rory McIlroy’s second consecutive victory the largest since Jordan Spieth won the Masters in front of 14 million viewers in 2015.

CBS’ coverage of this year’s final round peaked at 20.05 million viewers, which was the largest peak audience for the tournament since 2013.

The third round of the Masters averaged 8.11 million viewers on the Paramount-owned network, which was the largest audience for the same stage of the tournament since Tiger Woods won in 2019.

CBS shares the rights to the competition with ESPN, which airs the first two rounds. The Disney-owned broadcaster averaged 3.1 million over Thursday and Friday – a 16 per cent increase from last year and the best since 2022. ESPN also averaged 956,000 viewers for the Par-3 contest – a 52 per cent rise from 2025.

While the figures will have undoubtedly been boosted by changes to Nielsen’s calculations, the healthy performance of The Masters is vindication for its unique broadcast strategy. The tournament is one of one of the longest running and most popular sporting events on US television but unlike other properties, including its golf major peers, it doesn’t seek long-term lucrative media rights deals.

Instead, since 1979, it has awarded its domestic television rights on an annual basis for a nominal fee and has traditionally restricted the amount of coverage available to its broadcast partners who are unable to sell advertising around the event.

Only official Masters partners are allowed to advertise during live broadcasts and there are only four minutes of commercials each hour. Almost all sponsorship revenue is used to offset broadcast partners’ production costs, while a lack of on-site activation opportunities and limited inventory means Augusta National is leaving millions of dollars on the table.

The tournament’s profile and popularity mean it could earn far more from domestic media rights, commercial partnerships, and on-site revenues if it wanted to. But Augusta National is motivated by status rather than maximising profits. Whereas other events are dictated by commercial considerations, the Masters’ unique approach tips the balance of power in favour of organisers who exert considerable control over the broadcast, are able to protect the on-course experience, and cement the tournament’s position as the most prestigious prize in golf.

The situation works for all parties and amplifies the appeal of the tournament. The Masters still generates nearly US$150 million a year through sales of merchandise, tickets, international television rights, and food and beverage. ESPN and Amazon gain valuable content for their subscribers, while CBS – which might only break even on the tournament – benefits from the prestige of being the senior broadcaster, providing a halo effect for its wider golf coverage.

It is therefore willing to devote significant production resources and broadcast hours to covering the event, not least because Augusta National will demand it.

An example of this dynamic in action was witnessed in 1994 when CBS commentator Gary McCord upset Augusta officials when he said, “I don’t think they mow these greens, I think they bikini wax”. He never worked another Masters despite being a part of the team for every other CBS golf broadcast for several decades.

The broadcaster might expect to hear from organisers after camera operators seemingly losing track of McIlroy’s ball on the 18th hole during the fourth round, leading to criticism from fans.

But it’s unlikely there will be any change to the status quo – especially when The Masters is still capable of captivating the public’s imagination in a market where huge live audiences are at a premium.

The Masters’ strategy might be unique. But it’s working. Sports Pro