8 Outstanding Event Planning Tools and Software to Increase Productivity
8 minute read | August 2024
As the landscape of sponsorship evolves, the NBA’s groundbreaking media deals offer key insights into developing a successful sponsorship strategy. These high-profile agreements with media giants like ESPN-ABC, NBC, and Amazon underscore a significant trend: the increasing consumption of live sports.
For property rights holders—including government entities, sports venues, public parks, transportation systems, cultural events, and business events—this trend presents a golden opportunity to leverage the power of media-driven sponsorships.
NBA’s Media Deals: A Blueprint for Structuring Sponsorships
The NBA’s recent 11-year media agreements, valued at $76 billion and set to run from 2025 to 2036, are more than just a financial victory. They provide a strategic model for how property rights holders can structure their sponsorship offerings to capitalize on the rising demand for live events. The NBA’s approach, which blends traditional broadcasting with streaming services, ensures broad coverage across multiple platforms. This strategy maximizes audience reach while catering to a diverse demographic, including the younger viewers who primarily consume content digitally.
Property rights holders can draw inspiration from the NBA’s strategy by designing sponsorship packages that include both traditional and digital media exposure. For example, parks, arenas, and events can create multi-platform sponsorship packages that combine onsite billboard advertising, which appeals to local attendees, with social media integrations that engage global audiences. By offering exposure across a variety of platforms, property rights holders can significantly enhance the value and appeal of their sponsorship packages.
The Impact of Increased Live Sports Consumption
In today’s media landscape, sports have become the cornerstone of live content, as highlighted in discussions within the sports media industry, including SBJ’s The Sports Media Podcast. The sentiment that “the bubble feels a bit like it’s sports” reflects the intense competition among companies to secure sports content for their platforms. This race is driving growth for streaming services and attracting massive investments from both tech giants and traditional broadcasters. The ongoing bidding wars for media rights to leagues and venue sports, driven by companies like Amazon, ESPN, and NBC, underscore the widespread belief in the continued rise of live sports consumption.
For property rights holders across all sectors, the trends that drive live sports consumption presents unique opportunities to draw large, engaged audiences in real-time—an increasingly rare commodity in the era of on-demand content. This has led companies to pay a premium to secure sponsorships tied to live and engaged audiences, as they recognize the potential to drive online sales, increase subscriber growth, boost foot traffic, and more. Property rights holders who align their offerings with this demand will be well-positioned to attract high-value sponsorships, maximizing both visibility and revenue.
Insight: Cross-Platform Sponsorship Opportunities
The NBA’s media deals are not just about revenue; they are about expanding the league’s reach. By 2025, ESPN, NBC, and Amazon will collectively hold the rights to air regular NBA season and playoff games, including WNBA matches. This expansion into both traditional and digital platforms ensures that the NBA will engage a broad and diverse audience, from loyal TV viewers to younger, tech-savvy fans.
The NBA’s media strategy also provides valuable lessons in creating cross-platform content that appeals to a wide audience. For property rights holders and venues that host live events—whether they’re sports events, concerts, or cultural festivals—they can offer sponsors exposure not just at the event itself, but across the various media platforms that broadcast or stream the event. This means developing sponsorship packages that include digital content and social media integrations, reaching not only those interested in the specific event but also broader audiences. By doing so, property rights holders can tap into the growing demand for engaged audiences and related content across multiple platforms, offering sponsors more dynamic and engaging opportunities.
This cross-platform exposure is increasingly valuable to brands that are looking to reach audiences across different demographics and consumption habits.
Strategies for Property Rights Holders: Maximizing the Trend
To fully leverage the trends that follow live sports consumption, property rights holders should consider the following strategies:
- Diversify Sponsorship Platforms: Develop sponsorship opportunities that span traditional media, digital platforms, and live events. This approach ensures that sponsors’ messages reach a wide and engaged audience, whether they are watching on TV, streaming online, or attending in person.
- Leverage Real-Time Engagement: The real-time nature of live sports is one of its most valuable attributes. Property rights holders should look to create sponsorship opportunities that capitalize on this immediacy, such as live-streamed events, social media takeovers, and in-event activations that engage audiences as the action unfolds.
- Leverage Multi-Channel Exposure: Structure sponsorship packages that offer exposure across multiple channels, similar to the NBA’s media deals. This strategy not only increases visibility but also ensures that the sponsorship remains relevant to different audience segments.
- Utilize Data-Driven Insights: Use analytics to demonstrate the effectiveness of sponsorships. By providing sponsors with detailed insights into audience engagement and ROI, property rights holders can make a compelling case for the value of their offerings.
- Capitalize on Extended Reach: With media deals that cater to both local and global audiences, property rights holders can create sponsorship opportunities that appeal to national and international brands. This approach enhances the value of sponsorships and extends their reach beyond traditional boundaries.
The Future of Sponsorships and Your Strategy
The NBA’s media deals with ESPN, NBC, and Amazon highlight the immense value of live sports content in today’s media landscape. For property rights holders, the implications are clear: by aligning their sponsorship strategies with the trends driving the growth of live events, they can unlock new opportunities for visibility, engagement, and revenue. The future of sponsorships lies in the ability to offer multi-channel, real-time engagement opportunities that resonate with diverse audiences. Whether you manage a public park, transportation system, or concert venue, embracing these strategies will position you to lead in the evolving sponsorship landscape.
If you’re looking for expert guidance to navigate the complex world of maximizing exposure across multiple media channels, capitalizing on the opportunities of real-time nature of live events, and increasing the value of your sponsorship packages; Instigo Agency is here to help. We know our way around, and we’re ready to help you succeed in the future of sponsorships.
