Team sponsorship revenue grew more than $100M from last season
STAMFORD, Conn., May 24, 2023 /PRNewswire/ — SponsorUnited, the leading global sports and entertainment intelligence platform tracking 1.1 million sponsorships and endorsements for 250,000 brands and properties across sports, media, music, and entertainment, today released its 2022-2023 NBA Marketing Partnerships Report analyzing over 4,200 brands, 200 athletes and over 2,900 social posts in the NBA.
Key findings from the report include:
NBA sponsorship revenue soars: NBA team sponsorship revenue grew more than $100M from last season, reaching a record $1.4B in the 2022-2023 season. The NBA sponsorship portfolio also rose 3.5% year-over-year (YoY) with 2,430 new brand deals, but the increase in spend across deals is even more significant, rising 10.5% YoY.
Category spend in the NBA continues to climb: This season saw high-growth categories like Financial, Retail, Sports Betting and Gambling & Lottery account for nearly half the total revenue increase, which in turn drove considerable revenue gains. The Finance category had a banner year in the NBA, ranking #1 in total spending, highest year-over-year spending growth, and growth in deal volume.
“The NBA continues to excel in attracting brands, evident in the record high sponsorship spend and continuous year-over-year spend increase,” said Bob Lynch, SponsorUnited Founder and CEO. “Whether it’s well-established partners or emerging categories like Sports Betting and Technology, the NBA and its players’ allure remains unmatched as brands recognize the distinct value this sport and its passionate fanbase offer to their marketing strategies. It is poised for continuous growth.”
NBA players outperform other athletes on social media: NBA athletes possess extraordinary social media influence, surpassing other professional sports athletes by nearly 2.5 times the average engagement per deal. Playoff status measurably impacts NBA social media growth, especially on Instagram. Teams that made the playoffs saw a 33% higher increase in followers than those that didn’t, demonstrating the influence of on-court success on fan engagement.
“The game’s best players are just as influential on the court as off the court,” continued Lynch. “As NBA fans interact more and more with their favorite players, brands are presented with an unparalleled opportunity to form deeper connections with their audiences through endorsements.”
YouTube sponsorships gain asset usage: YouTube integrated sponsorship saw the highest increase in asset usage year-over-year, yet less than half of NBA teams have capitalized on the platform–a glaring oversight of a golden growth opportunity, given the league’s YouTube channel attracts more than 75M unique viewers every 90 days.
Social responsibility takes center stage: In a nod to both the growing spotlight on social responsibility and the NBA’s role as a progressive leader in pro sports, more than 300 brands focused their league sponsorship efforts on social equality, environmental stewardship, community support and health and empowerment initiatives, as these purpose-driven assets surged 25%.
View the full report here.
About SponsorUnited
Launched in 2018, SponsorUnited is the leading global sports and entertainment intelligence platform, delivering real-time trends and on-demand research that provide invaluable insights. With over 10M data points, 1.1M deals, 250K brands and properties across sports, media, music, and events in one SaaS database, SponsorUnited enables brands, rights holders and agencies to partner more effectively. By connecting the entire sponsorship ecosystem through the most comprehensive data available anywhere, SponsorUnited is fueling smarter partnerships.
To learn more about SponsorUnited and how the platform is powering stronger partnerships for brands, rights holders, agencies, and talent, visit: https://sponsorunited.com/.
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SOURCE SponsorUnited
