What’s happening now in sports business? That’s the premise for the ‘Daily Drip’, a Monday through Friday article that tracks the news of the day around digital, technology, media, marketing, sponsorship and business, among other topics. We’ll be hitting on our core coverage areas.
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With the NBA playoffs set to start in the coming days, the Philadelphia 76ers unveiled its playoff campaign, dubbed ‘Phila Unite’, which is a further extension of its season-long push of ‘Spirit of 76’. As part of the post-season marketing initiative, the team built a microsite for fans to upload photos and share on social.
The PGA Tour recently replaced its 20-year-old advertising campaign with a new one called ‘Live Under Par’.
Below is a 30-second commercial spot.
Monster Energy renewed its sponsorship with NASCAR for the property’s Cup Series through 2019. Next year could be the last that Monster is specifically tied to the Series as the company and NASCAR work on a restructuring of their sponsorship modeling.
Hulu will be touting its live television streaming service through a new sponsorship with the NHL playoffs. According to Variety, Hulu will be the on-air presenting sponsor NBC Sports’ pre-game show in addition to having inventory at all U.S. venues, among other integrations. The NHLPA will also create player video vignettes with Hulu.
STAT OF THE DAY NO. 1
Forbes reports that in 2015 NASCAR was originally seeking a $1 BILLION title sponsorship ($100M/yr for 10 yrs) to replace Sprint. Now renewing with Monster for $20 million. 😳
— Windy Dees (@getDeestweets) April 10, 2018
On Wednesday, Forbes released its annual rankings for the most valuable MLB franchises. The New York Yankees were ranked No. 1 for the 21st consecutive year of the rankings at $4 billion while the average MLB club is now worth $1.645 billion.
Here are the top five clubs:
1) New York Yankees: $4 billion
2) Los Angeles Dodgers: $3 billion
3) Chicago Cubs: $2.9 billion
4) San Francisco Giants: $2.85 billion
5) Boston Red Sox: $2.8 billion
STAT OF THE DAY NO. 2
This is one statistic that highlights how competitive the sports industry is from an entry-level standpoint. The application was only live for three days, too.
After an exhaustive search, really excited to welcome @taynardinger to the team!
— Shahbaz Khan (@ShahbazMKhan) April 9, 2018