Earlier quoted context omitted.
If you seriously think that there is even a tiny chance of fencing ever continuously bringing in even half as much viewers as football, I don't know what to tell you. The uncertainty there is not weather report level, more like "the sun will rise tomorrow".
Not a fencing example specifically, but in Poland skijumping effectively didn't exist until 2001. Then because of Adam Małysz, a record viewership has been established for national TV - during skijumping championships. That record has not been replaced until at least 2022 (I don't have more recent data, maybe it still stands). The largest football matches had millions fewer people watching. For more context the 10 mo…
There are 6 football games with higher viewership than the 2002 Olympic ski jumping.
Also, viewers per year would be a better metric, one single event with a lot of viewer probably gives you less ad revenue than an event every week with half the viewers.