Sport spectating provides numerous benefits for sport organisations and individuals. In this paper we use a positive psychology approach to examine the individual-level benefits of sport consumption in order to investigate the activation of five domains of well-being: positive emotions, engagement, relationships, meaning, and accomplishment (PERMA). Using a two-study panel research design, we collected qualitative data from a sample of Australian Rules Football consumers. In the first study, we explored how the PERMA domains were activated during the season. Study two included a follow-up interview with eight initial respondents in the off-season. We found evidence of four PERMA domains that were activated in the sport spectator context by a variety of consumer experiences. The emergence of these domains in both studies suggests sport marketers would benefit from actions including: creating more social spaces within their stadiums, hosting regular off-season events, and creating social-media based competitions which promote fan engagement and interactions throughout the calendar year.