Latest news with #SponsorUnited
NBC News
5 days ago
- Business
- NBC News
NBA team sponsorship revenue up 8% to $1.6 billion, boosted by jersey patches
NBA teams notched $1.62 billion in sponsorship revenue this season — an increase of 8% since last year, and 91% from $850 million five years ago, according to third-party data firm SponsorUnited. While the volume of deals was up just 2.5% since last year, the partnerships got bigger and more strategic, per the NBA Marketing Partnerships 2024-2025 report from SponsorUnited, which tracks global sports and entertainment sponsorships. That haul is still shy, however, of the NFL, which had nearly $2.5 billion in team sponsorship revenue, a 6% increase from the prior season, according to SponsorUnited. A key part of the NBA's revenue rise is the proliferation of sponsor patches on team jerseys, said Bob Lynch, founder and CEO of the data firm. The number of jersey patch deals — commonplace in international soccer and increasingly popular in the NBA since their introduction in 2017 — more than doubled year-over-year last season. There were six first-time NBA jersey partners, contributing more than $80 million in new spending this year, according to the report. The deals typically run three years on average, Lynch said. 'It was sort of this mad dash to bring in these deals, which generate a lot of buzz and a lot of revenue,' said Lynch. 'These partnerships can be a quarter of a billion dollars of incremental revenue that was generated just from 11 deals that were sold. So it just shows the continued viability and interest in the NBA just on these jersey patches alone.' The 2024 opening of the Los Angeles Clippers' Intuit Dome has also helped to drive up overall sponsorship revenue. 'Anytime these leagues have a big stadium that opens or an expansion team, it just adds so much revenue to the league,' said Lynch. 'Between jersey patches and the Clippers' stadium, it was like the equivalent of bringing in three new teams to the league that generated revenue,' he said. There were 450 brands that entered NBA sponsorships for the first time this season. The most growth came from brands in the construction, alcohol and technology sectors, according to SponsorUnited. Rakuten and JPMorgan Chase rank as the top-spending brands in the league, according to the report. Chase is the arena sponsor for the Golden State Warriors, while Rakuten has a patch on the team's jersey. The sponsorship increase comes on the heels of the league's $77 billion media rights deal, in which games will be offered across Disney' s platforms like ESPN, Comcast 's NBC broadcast and Peacock, and Amazon 's Prime Video beginning next season. The latest media rights deal shows a heavy emphasis on streaming and a broader expansion on broadcast TV. Individual star players have beckoned some of the biggest endorsement deals, which didn't contribute to the team sponsorship total, but often serves as a gateway for brands to eventually strike deals with teams, said Lynch. 'What we're seeing is that players are almost becoming teams themselves in the number of sponsorship deals they have,' said Lynch. Initially, star players and their massive social media followings were considered a threat to overall league and team sponsorship revenue. Instead, they've provided a boost, said Lynch. 'It's created a larger ecosystem for brands to enter into the NBA space, sort of dip their toe in the water,' he said. Athletes often ink endorsement deals that can last just a few months, as opposed to team sponsorships that are longer-term. The exception is generational players, like Steph Curry and LeBron James, who have the leverage for long-term deals. This season the Philadelphia 76ers' Jared McCain inked 30 endorsement deals, the most by a player in a single season in NBA history, according to SponsorUnited. Other top NBA athletes who led in endorsement deals include three New York Knicks players — Karl-Anthony Towns, Josh Hart and Jalen Brunson — who powered the team to the Eastern Conference Finals this season. Golden State Warriors' Curry was also among the top-endorsed NBA players. Curry saw his business career trajectory change when he inked a deal with Under Armour in 2013, which was worth about $4 million per year, CNBC recently reported. In 2023 Curry extended the deal and received 8.8 million Under Armour shares, valued at $75 million at the time. As a whole, the Warriors ranked alongside the NFL's Dallas Cowboys and MLB's Los Angeles Dodgers as part of a handful of U.S. teams with the most lucrative sponsorships businesses.
CNBC
5 days ago
- Business
- CNBC
NBA team sponsorship revenue up 8% to $1.6 billion, boosted by jersey patches
NBA teams notched $1.62 billion in sponsorship revenue this season — an increase of 8% since last year, and 91% from $850 million five years ago, according to third-party data firm SponsorUnited. While the volume of deals was up just 2.5% since last year, the partnerships got bigger and more strategic, per the NBA Marketing Partnerships 2024-2025 report from SponsorUnited, which tracks global sports and entertainment sponsorships. That haul is still shy, however, of the NFL, which had nearly $2.5 billion in team sponsorship revenue, a 6% increase from the prior season, according to SponsorUnited. A key part of the NBA's revenue rise is the proliferation of sponsor patches on team jerseys, said Bob Lynch, founder and CEO of the data firm. The number of jersey patch deals — commonplace in international soccer and increasingly popular in the NBA since their introduction in 2017 — more than doubled year-over-year last season. There were six first-time NBA jersey partners, contributing more than $80 million in new spending this year, according to the report. The deals typically run three years on average, Lynch said. "It was sort of this mad dash to bring in these deals, which generate a lot of buzz and a lot of revenue," said Lynch. "These partnerships can be a quarter of a billion dollars of incremental revenue that was generated just from 11 deals that were sold. So it just shows the continued viability and interest in the NBA just on these jersey patches alone." The 2024 opening of the Los Angeles Clippers' Intuit Dome has also helped to drive up overall sponsorship revenue. "Anytime these leagues have a big stadium that opens or an expansion team, it just adds so much revenue to the league," said Lynch. "Between jersey patches and the Clippers' stadium, it was like the equivalent of bringing in three new teams to the league that generated revenue," he said. There were 450 brands that entered NBA sponsorships for the first time this season. The most growth came from brands in the construction, alcohol and technology sectors, according to SponsorUnited. Rakuten and JPMorgan Chase rank as the top-spending brands in the league, according to the report. Chase is the arena sponsor for the Golden State Warriors, while Rakuten has a patch on the team's jersey. The sponsorship increase comes on the heels of the league's $77 billion media rights deal, in which games will be offered across Disney's platforms like ESPN, Comcast's NBC broadcast and Peacock, and Amazon's Prime Video beginning next season. The latest media rights deal shows a heavy emphasis on streaming and a broader expansion on broadcast TV. Individual star players have beckoned some of the biggest endorsement deals, which didn't contribute to the team sponsorship total, but often serves as a gateway for brands to eventually strike deals with teams, said Lynch. "What we're seeing is that players are almost becoming teams themselves in the number of sponsorship deals they have," said Lynch. Initially, star players and their massive social media followings were considered a threat to overall league and team sponsorship revenue. Instead, they've provided a boost, said Lynch. "It's created a larger ecosystem for brands to enter into the NBA space, sort of dip their toe in the water," he said. Athletes often ink endorsement deals that can last just a few months, as opposed to team sponsorships that are longer-term. The exception is generational players, like Steph Curry and LeBron James, who have the leverage for long-term deals. This season the Philadelphia 76ers' Jared McCain inked 30 endorsement deals, the most by a player in a single season in NBA history, according to SponsorUnited. Other top NBA athletes who led in endorsement deals include three New York Knicks players — Karl-Anthony Towns, Josh Hart and Jalen Brunson — who powered the team to the Eastern Conference Finals this season. Golden State Warriors' Curry was also among the top-endorsed NBA players. Curry saw his business career trajectory change when he inked a deal with Under Armour in 2013, which was worth about $4 million per year, CNBC recently reported. In 2023 Curry extended the deal and received 8.8 million Under Armour shares, valued at $75 million at the time. As a whole, the Warriors ranked alongside the NFL's Dallas Cowboys and MLB's Los Angeles Dodgers as part of a handful of U.S. teams with the most lucrative sponsorships businesses.
Miami Herald
02-04-2025
- Business
- Miami Herald
Report: UNC's RJ Davis, USC's JuJu Watkins have most NIL deals
College basketball continues to be the go-to sport for name, image and likeness deals, according to a new report from sponsorship data company SponsorUnited. North Carolina's RJ Davis and USC's JuJu Watkins led all male and female athletes, respectively, in total endorsements over the past year, according to the report. Davis, third on the ACC's all-time scoring list, garnered 25 NIL deals over the last 12 months, finishing ahead of Arizona punter Cash Peterman (21), 2024 Heisman Trophy winner Travis Hunter (19) and Texas quarterback Quinn Ewers and LSU basketball's Trace Young (17 each) for the men. In women's college sports, the top five athletes with the most NIL deals over the past year are all basketball players. Watkins -- the Big Ten Player of the Year who suffered a season-ending ACL injury in the second round of the Women's NCAA Tournament -- had 20 NIL agreements, topping the combined 18 deals between basketball twins Haley and Hanna Cavinder from the University of Miami. UConn's Paige Bueckers and Oregon's Deja Kelly had 16 apiece, according to the report, while LSU's Flau'jae Johnson landed 15. Per SponsorUnited, NIL has evolved into a $1 billion business since launching nearly four years ago. Basketball has certainly played a major role in that growth. "Basketball consistently dominates NIL deals because it perfectly combines visibility, personality and cultural impact," SponsorUnited CEO Bob Lynch told ESPN, saying the sport "resonates on a massive scale." In addition, the new report showed the ever-growing marketability of female athletes, especially in basketball, as they perform better than their male counterparts on social media in terms of follower count and engagement. Bueckers, for example, has added around 3 million followers on social media within the past year, one million more than any male athlete. According to the report, eight of the top 10 athletes in terms of audience engagement were women. "Businesses are realizing that investing in women's sports is a good business decision," Shannon Scovel, a former Division I swimmer and professor who studies sports and media at the University of Tennessee, told ESPN. "There's been this perception that the only sports that can make money for businesses are certain men's sports. And women's sports have now shown that if you invest in them, you'll get a return on investment." Tracked NIL deals have increased by just 1% compared to the previous year, with technology and nonalcoholic beverages' deals driving the most growth in the past year and retail and apparel brands seeing a decrease. --Field Level Media Field Level Media 2023 - All Rights Reserved
Yahoo
06-02-2025
- Business
- Yahoo
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. More from 'Puka Doncic' Says Luka Trade a Win for Jordan Brand AI Could Change the Way the Super Bowl Sounds Chiefs-Refs Conspiracy Theory Is Just That: Super Bowl Data Viz 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. Best of NFL Private Equity Ownership Rules: PE Can Now Own Stakes in Teams Most Expensive Sports Memorabilia and Collectibles in History Why Sports Tickets Are More Expensive Than Ever
