NBA sponsorship revenue has increased 91% over the past five seasons.
Transcript: The NBA may have seen national TV ratings dropping by 2% this past season, but companies have made it clear that they want in on the action. According to a report by SponsorUnited, NBA teams raked in more than $1.6 billion in sponsorship revenue this season. That’s an 8% increase from last year, and an incredible 91% jump from just 5 years ago.
According to SponsorUnited CEO Bob Lynch, the increase has a lot to do with patches on team jerseys. Lynch told CNBC, “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 top-spending brands in the league were Rakuten and JPMorgan Chase, and there were 450 new brands that entered sponsorship deals this past season.
However, even with all of the new deals the NBA is second-fiddle to the NFL, which brought in about a billion dollars more in sponsorship revenue last year.
That’ll do it for your daily briefing. From New York City, I’m Kelsey Barberio with TheStreet.
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