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Saturday, May 18, 2024

Technology, Gambling Boost NFL’s Sponsorship Revenue

NFL
Kirby Lee-USA TODAY Sports/Design:Matt Sullivan

The National Football League’s sponsorship revenue grew 12% year-over-year from $1.62 billion to $1.8 billion in the 2021-22 season and spiked from $1.47 billion in 2019, according to a study by IEG.

NFL franchises only brought in an additional 4% of revenue for rights fees, while league-wide sponsorship spending grew 23%.

IEG global managing director Peter Laatz says the sponsorship boom is “coming from emerging categories.”

  • Led by Microsoft’s roughly $100 million per-year deal, technology sponsorships brought in the most money for the season.
  • Sportsbooks, casinos, and lottery sponsorships brought in the second-highest dollar figure, with fees growing 140%. DraftKings, FanDuel, and Caesars — which purchased naming rights to the New Orleans Superdome for $138 million — signed five-year deals to become the league’s official sportsbooks with a combined worth of nearly $1 billion.
  • Alcoholic beverages brought in the third-highest amount, with Anheuser-Busch paying more than $250 million per year and Diageo contributing $30 million each year. The league’s wine and champagne rights are still up for sale.

The NFL also spent its first full season with Hyperice, signed a new partnership with Cisco, and expanded its Verizon partnership for 10 years.

Future Revenue Opportunities

One emerging category that hasn’t been seen in the league is cryptocurrencies — the league has held discussions about potential opportunities there, but is still skeptical of the market.

Additionally, for the first time, 18 NFL clubs have the opportunity to grow their revenue through 26 international markets including Canada, Mexico, and Germany.

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