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From our Founder Angela Ruggiero
"This is a crucial time for women’s sports to garner more investment and additional reach that has been long overdue."
With the focus on the Men’s and Women’s NCAA Basketball Tournaments, there is another upcoming milestone in the basketball world. The WNBA’s 25th season is around the corner and the league is bringing a new logo and marketing campaign to the table in the run-up to the first game. The new logo and the “Count It” campaign are setting the stage for a historic season. Coming off a very successful bubble season that saw a massive jump in viewership, the league is looking to continue its momentum heading into year 25. The league recently announced a new partnership with Wilson to become the new official basketball of the WNBA. Wilson will reveal unique collaborations with the WNBA, including three launches throughout the year featuring designs from various artists and collaborators. This is a crucial time for women’s sports to garner more investment and additional reach that has been long overdue. This historic season for the WNBA will celebrate the accomplishments of the first 25 years and will set the stage for the impending growth over the next 25.
Weekly Brand Breakthrough
The Australian Football League (AFL) and Virgin Australia have recently announced a partnership intended to benefit both parties hit hard by the Coronavirus lockdowns of the last year. The deal will see Virgin Australia as the official partner of the AFL, responsible for all team travel around Australia until 2025. The airline also promises to make travel to games easier for fans with its extensive network of domestic destinations. With the Australian government’s recently announced aviation support package, travel will be cheaper than ever. The partnership brings together the airline and sports league both brought to a standstill by the pandemic and supports both parties in the rebuilding process.
Weekly Live Entertainment Breakthrough
This week’s big news, the Oakland Athletics become the first professional sports franchise to accept bitcoin in payment for tickets. The MLB franchise has recently announced that they will now offer a six-person suite for the home season at the price of one bitcoin. They are the first US sports team to accept cryptocurrency in exchange for tickets instead of US dollars. A full season suite offering has historically come out to $64,800, which is more than 15% higher than the current price of a bitcoin which fluctuates between $50,000 and $60,000. While other teams have sold tickets in exchange for cryptocurrency, the A’s are the first not to peg the price to a specific value of US Dollars. Instead, the team and the purchaser make a gamble on the value of the bitcoin. This signifies an exciting new age of sports; as the club’s president Dave Kaval said, “If you see it in baseball, you could potentially see it anywhere.”
Weekly Media Breakthrough
CBS and Turner’s partnership in airing the NCAA March Madness Tournament has benefited the broadcasters, the organization, and the fans, a rare occurrence in broadcast television. The deal provides the NCAA with its single most significant source of revenue annually, both broadcasters consistently turn a profit, and the games are now accessible to fans all over the country. The partnership is set to last until 2032 and has exceeded all expectations. The original contract between Turner, CBS, and the NCAA was for 14 years worth 10.8 billion dollars. The recent 8-year extension will increase the yearly value to 1.1 billion dollars in 2025. These two broadcasting companies’ ability to come together and think creatively about streaming content nationally and make the entire experience as integrated as possible has led to dramatic growth in their product’s overall value.
Weekly Athlete Breakthrough
LeBron James has recently joined the Fenway Sports Group as a partner. The former die-hard Yankees fan has changed his allegiance, at least from a business perspective, by joining the Boston Red Sox and Liverpool Football Club parent company Fenway Sports Group (FSG). The basketball superstar already has a growing and successful portfolio of investments, but this move marks a new era of sports franchise investment. It seems inevitable he will eventually invest in an NBA or NFL team as well. He is making the impressive move from player to owner. The Boston Globe reported that James and his business partner Maverick Carter would be the first Black partners in the history of FSG, signifying an important shift in franchise ownership. This incredible investment echoes the new power of athletes as businessmen and entrepreneurs.
For more information on the changing trends in sports and all of our latest research visit sportsilab.com
Sports Innovation Lab Events
Digital Media Transformation With Tim Clark Of NASCAR
On this week’s episode of the Fluid Fan Podcast, Angela Ruggiero is joined by Tim Clark the SVP & Chief Digital Officer at NASCAR. Tim and Angela touch on NASCAR’s digital strategy, the company’s award-winning iRacing Series, the innovative tech Tim’s team is working into their broadcast presentation and more. Tim is truly working to deliver an immersive experience for NASCAR fans in order to stay ahead of the very competitive attention economy. Get ready to learn from an innovation expert about all things digital media and production as well as Tim’s unique perspective on the changes and direction of digital media.
Co-Watching Creating The Power Of Togetherness with Sceenic
Learn about the Co-Watch Game Changer, Sceenic, in our latest report highlighting the company’s groundbreaking technology and innovative partnerships. As the sports industry continues to try and navigate the shifting landscape due to the pandemic, the companies like Sceenic who can offer immersive experiences for Fluid Fans will stay ahead of the market. Find out how Sceenic is recreating The Power of Togetherness for fans at home.