NFL Team Sponsorships Hit Record $2.5 Billion in 2024
Last year's Super Bowl generated nearly $700 million in ad revenue, thanks in part to only the second overtime in the history of the event. Brands will fill Fox's coffers for this year's title tilt, with some 30-second ad spots topping $8 million.
Sponsors are also spending record amounts on the team level, with club sponsorship revenue rising 6% year-over-year to reach $2.49 billion for the 2024 season, according to a new report from SponsorUnited.
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The total is 35% ahead of runner-up MLB ($1.84 billion), while the NBA ($1.5 billion), NHL ($1.35 billion) and MLS ($665 million) round out the top five.
The NFL has elevated its offseason calendar to help capture fan attention year-round from the combine, free agency, draft and training camp. The moves have helped with sponsors. 'NFL sponsorships have evolved from a seasonal, stadium-focused model tied to the team's local market, into a 365-day, multi-dimensional platform,' Bob Lynch, SponsorUnited CEO, said in a video interview. He added that brands can now offer brands continuous engagement 'by leveraging content, community and moments and even international activations.'
Ticketing is the biggest sponsorship category for teams at nearly $300 million in revenue, up 17% from the prior year. That's followed by financial services firms ($250 million), alcoholic beverages ($205 million) and healthcare ($176 million). Telecomm (+16%) and alcohol (+14%) were the next biggest gainers after ticketing. Technology ($95 million) was the one major category with a decline. It was largely triggered by the end of multi-million-dollar investments from brands such as Socios and LifeBrand.
Ticketing sponsorships nearly doubled in 2023, thanks in part to the league's Ticketmaster renewal, which had revenue ramifications that trickled down beyond league-level to the individual teams, according to Lynch. SeatGeek has also signed a half-dozen NFL team deals, including with the Dallas Cowboys. Teams typically capture a slice of the secondary ticket market revenue in these deals.
The financial category got a boost with two new stadium naming rights partners in 2024. Huntington National Bank reached a 20-year deal to brand the Cleveland Browns stadium. Northwest Federal Credit Union replaced FedEx as the Washington Commaders' stadium partner in an agreement worth more than $8 million a year through 2031.
The most active brands on the team level are Bud Light, Ford Motor, Ticketmaster and Miller Lite, according to SponsorUnited. The top eight most active brands are also league partners. Bank of America and AT&T rank ninth and 10th and do not have agreements at the league level, but they might have the next best thing as longtime partners of the Cowboys, which rank as the world's most valuable sports team at $10.3 billion, according to Sportico.
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