This week's newsletter not only underscores fans’ unwavering interest in attending events, but also highlights the ongoing significant demand for women's sports.
- The LPGA Tour aims to create more stars from its athletes in 2024, partnering with Hana Kuma, co-founded by Naomi Osaka, for content creation and brand development for eight of its golfers, in response to the growing interest in women's sports and a 65% revenue increase over four years.
- Every LPGA golfer had the opportunity to apply for the program, with the final selection of the eight athletes to be showcased being a collaborative decision between the LPGA Tour, the golfers, and their teams. Additionally, Hana Kuma will conduct a one-day branding and social media workshop for all tour golfers in May.
- The inclusion of LPGA pros Lexi Thompson and Rose Zhang in "The Match" on TNT for the first time highlights the initiative to boost the profile of women golfers. The collaboration with Hana Kuma addresses the need for greater name recognition and leverages the untapped potential for content, storytelling, and growth in women's golf.
- The Women's Super League (WSL) experienced a 258% increase in online searches in 2023, leading all sports properties according to Redtorch's Sport on Search 2024 report, signaling a significant rise in interest for women's sports.
- Other major sports properties saw significant increases in search interest as well, with Major League Soccer (MLS) searches up by 87% and the World Athletics' Diamond League by 85%, while WWE emerged as the biggest mover in the rankings.
- The increase in search volume for sports properties, especially in women's sports, is attributed to greater visibility and notable events such as the FIFA Women's World Cup, the influence of star athletes, and strategic media deals, with the WSL planning to offer more games for domestic broadcast in its next rights cycle to fuel further growth.
- Sponsorship deals in women's professional sports have seen a significant increase of over 22% year-over-year, with the LPGA leading with 1,100 deals, marking a 25% increase, and the WTA experiencing the most substantial growth at 34%.
- Gatorade is the most active brand in league sponsorships, holding 51 deals, while US skier Mikaela Shiffrin and retired goalkeeper Brittany Isenhour lead in individual endorsements with 33 each, highlighting the growing brand interest in women's sports.
- This surge in endorsements and sponsorships is attributed to increased media coverage and viewership of women's sports, paving the way for further growth as more visibility and broadcast partnerships emerge, especially for leagues like the NWSL and the PWHL.
- The MLS 2024 season opening weekend saw significant attendance figures, highlighted by over 62,000 fans at Charlotte FC's home game and a new record crowd at Dignity Health Sports Park for the match between Lionel Messi's Inter Miami and the Galaxy.
- The match between Inter Miami and the Galaxy at Dignity Health Sports Park attracted a record attendance of 27,642, setting a new high for the stadium and generating the highest-grossing game in its history, with an unprecedented level of media interest and star-studded attendance.
- Despite a slight drop from last year's home opener, Charlotte FC's fan engagement remains strong, with over 62,000 fans attending their first game of the season, indicating a matured and enduring support base that continues to make their home games significant events in the community.
- The NHL Stadium Series games, particularly the Rangers-Islanders match, experienced a significant viewership boost, drawing the best audience since 2019 with 1.57 million viewers, highlighting the appeal of outdoor games in the New York market and marking the best regular-season game audience on ABC or ESPN since the beginning of Disney's NHL rights deal.
- The Flyers-Devils Stadium Series game also performed well, maintaining steady viewership compared to the previous year's outdoor game, despite competing with NBA All-Star Saturday night, with both Stadium Series games outperforming the NHL Winter Classic in terms of viewership.
- The NBA also saw an increase in viewership for its All-Star weekend events, with the Celebrity Game drawing its best audience since 2018 and the Rising Stars Challenge seeing a slight uptick from last year's record-low, despite missing a highly anticipated matchup.
- The Daytona 500 experienced a 27% decrease in viewership year-over-year for Fox due to a rainout, with the rescheduled Monday race attracting only 5.96 million viewers, significantly lower than the previous year's Sunday afternoon broadcast.
- The 2023 Daytona 500's viewership was the second-lowest on record, only surpassing the 2021 race, which was also affected by a rain delay and low pandemic-era audience numbers. This year's audience figures were 15% lower than in 2020, another year when the race was postponed to Monday due to rain.
- The season-opening NASCAR Xfinity Series race at Daytona, also delayed by rain from Saturday to Monday night, saw a 45% drop in viewership on FS1, from 1.69 million in the previous year's Saturday primetime slot to 933,000 viewers.
- The Dallas Stars are considering moving away from traditional regional sports network agreements to develop a direct-to-consumer streaming application in collaboration with A Parent Media Co. Inc., aiming to offer games for free via an ad-supported model amid issues with Bally Sports Southwest.
- The proposed streaming platform would operate on an advertising-based video on demand (AVOD) model, relying on ad revenue rather than subscription fees, and comes in response to technical problems and accessibility issues faced with the Bally Sports+ app and Bally Sports Southwest's limited availability on popular streaming platforms.
- Despite the innovative approach of offering games for free, Stars President & CEO Brad Alberts believes that transitioning to this model would not result in a loss of revenue for the team, marking a potentially significant shift in how NHL games are distributed and monetized.
- The NHL and its teams are actively engaging the Hispanic market, a demographic traditionally underrepresented among hockey fans, with a 2020 poll showing only 6.8% of Hispanic males follow the NHL despite 94% identifying as sports fans. This initiative is seen as a key opportunity for growth given that 40% of NHL teams are located in states with the highest Latino populations.
- Efforts to attract Hispanic fans include celebrating Hispanic Heritage Month, offering Spanish-language broadcasts, and implementing youth and community programs. Plans for expanding the sport's presence include potentially hosting an NHL game in Mexico City and specific teams like the Kings and Ducks leading targeted outreach and social media campaigns.
- The push towards engaging the Hispanic community has shown promising results, with a reported 15% annual increase in Latino fan base for teams like the Kings and over 750,000 Latinos identifying as Ducks fans, making up 19% of the team's total fan base. This reflects a broader strategy by teams such as the Stars, Golden Knights, and Coyotes to significantly invest in connecting with the Latino population in their local areas.
- Apple has launched a new sports app, Apple Sports, initially available in the US, UK, and Canada, designed to offer live scores, stats, and betting data for major sports leagues. The app's release aligns with the start of the MLS season, highlighting Apple's exclusive global broadcasting rights and its broader push into sports.
- The app features a user-friendly design and integrates with other Apple services, allowing users to customize their experience by selecting favorite leagues and teams. Apple Sports supports several leagues at launch, including MLS, NBA, NHL, and top European soccer leagues, with plans to expand its offerings.
- Despite the crowded market for sports apps, Apple Sports aims to stand out through its design and simplicity, leveraging Apple's vast user base and ecosystem. The app's launch is seen as a strategic move to solidify Apple's presence in the sports broadcasting and digital ecosystem, with potential future expansions into live broadcast rights and enhanced app functionalities.
- Sportec Solutions is set to replace Hawk-Eye as the VAR technology provider for Major League Soccer (MLS) through 2030, covering MLS games, Leagues Cup competitions, and the MLS All-Star game, as well as managing medical sideline review (MSR) operations. Sportec, already MLS's data provider, will integrate its FIFA-approved VAR system.
- A new operations center in Arlington, Texas, will centralize the league's VAR, MSR, and match data processes. This 12,000-square-foot facility, supported by a $1M performance grant from the Arlington Economic Development Corporation, features advanced workstations for VAR, MSR, and live data collection, staffing 13 full-time employees, and signifies the league's commitment to a high-tech, integrated approach to soccer management.
- The partnership with Sportec is viewed as a natural extension of MLS's ongoing efforts to enhance game integrity and efficiency through technology. The Arlington facility's strategic location offers operational advantages, such as low-latency data feeds and quick response capabilities for problem-solving during matches, aligning with MLS's vision of a connected tech ecosystem and potentially supporting future FIFA World Cup efforts in North America.
- Bundesliga referee Daniel Schlager was equipped with a camera and microphone during the Frankfurt-Wolfsburg match as part of a project to provide an immersive view from the head official's perspective, approved by IFAB and collaboratively initiated by the DFL and DFB.
- The captured audio and video content will be featured in an upcoming program titled "Referees Mic'd up - Bundesliga," produced by DFL Digital Sports, set to air on March 12, highlighting a novel approach to showcasing the match experience.
- This initiative marks the first use of a referee camera in the Bundesliga and one of the first in competitive matches globally, following similar experiments in MLS All-Star Games and a Premier League Summer Series match, with grassroots and academy leagues also utilizing referee cameras for different purposes.
- Tradable Bits is expanding its partnership with the Australian Football League (AFL) to include a custom CRM solution, enhancing the league's marketing, merchandising, and ticketing efforts with integrated automation tools and providing ready-made fan engagement activations.
- Since initiating a pilot program with the AFL in 2019, Tradable Bits has seen significant adoption, with 17 out of 18 AFL teams currently utilizing the platform for fan engagement and data management.
- The platform has been effective in growing the AFL's fan base, with half of all new fan records in 2022 attributed to engagements through Tradable Bits, earning the company recognition as a Power Player for Fan Experience: Tech by Sports Business Journal (SBJ) last year.
- Stephen Ross, owner of the Dolphins, announced his intent to sell a portion of the team, citing the rapid increase in NFL teams' valuations as a motivating factor for the decision, during the FII Priority event in Miami Beach.
- A sale of the Dolphins' stake is anticipated to potentially exceed the $6 billion transaction for the Commanders, led by Josh Harris, reflecting the high market value of NFL teams.
- The potential sale includes not only the Dolphins but also assets like the Hard Rock Stadium and the F1 Miami Grand Prix, with Citadel founder Ken Griffin being mentioned as a possible buyer.
- Marc Lasry's Avenue Sports Fund has acquired the sanctioning rights for the Professional Bull Riders team N.Y. Mavericks, which will participate in the 2024 PBR Camping World Team Series, marking Barclays Center's first bull riding event.
- The Avenue Capital Group's Avenue Sports Fund aims to provide capital solutions to established sports teams and leagues worldwide, as well as invest in emerging sports sectors.
- The Oklahoma Wildcatters, backed by LIV golfer Talor Gooch’s FJS Ventures, also join the PBR league, with Gooch making his first investment through his company, highlighting the significant financial investments in PBR teams, with bids starting at $20M.
- The NFL's salary cap for 2024 is set at a record $255.4 million, marking an increase of over $30 million from the previous year, surpassing industry expectations which projected a cap around $242 million.
- This significant increase is attributed to a remarkable rise in media revenue and the repayment of amounts advanced by clubs and deferred by players during the COVID pandemic, reflecting the highest ever yearly increase and demonstrating the league's financial growth.
- NFL free agency will begin with a "legal tampering" period starting at noon on March 11, with new contracts allowed from March 13 at 4 p.m., signaling the start of the NFL's new fiscal year.
- Brentford FC owner Matthew Benham, who purchased the club in 2012 and has been instrumental in its rise from League One to the Premier League, is considering new investment opportunities, open to both minority and majority shareholdings.
- The search for investment comes as U.S. investors show interest, with potential deals valuing Brentford at over ￡400 million, highlighting the club's significant growth and appeal in the competitive landscape of English soccer.
- Despite exploring investment options, Benham remains committed to Brentford, emphasizing the importance of securing the club's long-term future and competitiveness in the Premier League, amidst a trend of American ownership in top-flight English clubs.
- Borussia Dortmund CEO Hans-Joachim Watzke criticized the Bundesliga's decision to reject a €1 billion investment deal for its media rights business due to fan protests, highlighting fans' skepticism towards giving control to investors and the impact of traditional views in German society.
- The proposed investment, which was initially supported by a majority of Bundesliga and Bundesliga 2 clubs, was abandoned amid concerns it would undermine the '50+1 rule' that ensures fan influence in club decisions, despite assurances that operational control would not be ceded to investors.
- Watzke noted that the failure of the deal primarily disadvantages mid-sized clubs by limiting financial growth opportunities, contrasting with the relative independence of larger clubs like Bayern Munich and Dortmund. He also mentioned plans to open a Dortmund office in New York to increase American sponsorship revenues and the lost opportunity to fund a pre-season tournament in the U.S. due to the lack of investment.
- Angel City FC's Alyssa and Gisele Thompson have entered a multiyear partnership with TOCA Football, becoming equity stakeholders and committing to promote soccer in the U.S., especially among young girls, through TOCA's tech-enabled training programs.
- The Thompson sisters, who have a personal connection with TOCA from their youth training experiences, will be involved in public relations campaigns and photoshoots to market TOCA, with their investment terms undisclosed. TOCA founder Eddie Lewis highlighted their authentic connection and potential for future success in soccer.
- Alyssa Thompson made history as the first high school player to be drafted No. 1 overall in the NWSL by Angel City in 2023, and Gisele joined Angel City FC shortly before turning 18, with both sisters securing three-year contracts. Their involvement with TOCA is part of a broader trend of younger athletes investing in brands, aiming to inspire the next generation of soccer talent.
- On Location has invested in Wiz-Team, a Switzerland-based event and data technology company, aiming to integrate Wiz-Team's software across its portfolio for enhanced guest management services, including for high-profile events like the Olympics, Paralympics, and the Super Bowl.
- This strategic investment builds on a previous partnership between On Location and Wiz-Team to improve hospitality, travel, and VIP experiences, with On Location holding exclusive rights to manage hospitality for the upcoming Olympics in Paris (2024), Milan-Cortina (2026), and Los Angeles (2028) in a landmark $1.3 billion deal with the IOC.
- Wiz-Team, headquartered in Lausanne, close to the IOC and various international sports federations, brings extensive experience in managing events for the Olympics, Paralympics, Commonwealth Games, Sail GP, and European Athletics, enhancing On Location's offerings with scalable and innovative technology solutions.
- CrewLAB, a digital management platform for sports teams, successfully raised $1.6 million in an oversubscribed funding round led by Scott Sandell of New Enterprise Associates, with significant contributions from Manning Ventures and Olympic gold medalist rower Drew Ginn.
- The investment will be directed towards research and development (R&D) and expanding the team across engineering, design, marketing, and sales departments, signaling a growth phase for the company founded by ex-UCLA rower and coach Dominic Pardini.
- Since its inception in 2019, CrewLAB has established partnerships with various collegiate rowing programs and secured a significant partnership with USRowing in December, offering services from a free communication platform to premium data and administrative tiers.
- Vestible, an innovative investment platform co-founded by former Oklahoma State football players, launches its beta mobile app, allowing sports fans to buy and trade shares in athletes' salaries, with SEC and FINRA approval.
- The platform debuts featuring Denver Broncos LB Baron Browning, offering 100,000 shares at $10 each in 1% of Browning's salary, with 80% of proceeds going to the athlete and monthly distributions to investors.
- Vestible aims to expand its athlete portfolio to about 50 by the end of the year, focusing on football and basketball players who are outperforming their current contracts, with plans to facilitate investments through broker-dealer Templum Markets and DriveWealth as the custodian.
