Last Week Today: April 26 – May 2, 2021 Sponsorship News
This is part of our "Last Week Today" series that includes a weekly roundup of the past week's most exciting and industry-altering news. Check back on our blog every week for updates! These stories cover sponsorship news for April 26 – May 2, 2021.
Green Flag for Netflix Sports Streaming
Coming off a year of successful shows such as the Pelé documentary and “Formula 1: Drive to Survive”, Netflix shows no signs of slowing down on the sports content. In fact, the streaming service has doubled down with Michael Jordan after the airing of ESPN’s “The Last Dance”. While the previous content with Jordan focused on the Chicago Bulls dynasty, the upcoming docuseries will instead highlight his NASCAR racing team, 23XI, and their lead driver, Bubba Wallace. As the only Black, full-time driver on the NASCAR circuit, the series will be sure to highlight his unique challenges while trying to build his own legacy in the sport.
Collabs Have Crocs Cruising
Whether it is with Beam to develop a fishing shoe or Post Malone to create the wildest design imaginable, Crocs has seen revenues increase due to recent unique collaborations. The company, which increased revenue 64% year-over-year so far in 2021 can attribute this growth to the partnerships that helped them reach a wider range of potential customers. The change of strategies has led to operational shifts as well with the company recently announcing a pull of their product from wholesale retailers. This change coincided with a recent push on getting their footwear into athletic retail locations such as Foot Locker.
Unilever’s Umbrella Grows
As both Nestle and Bayer look to diversify their portfolios with nutritional supplement companies, Unilever has matched that interest with the recent acquisition of Onnit. Known for their nutritional snacks and supplements, Onnit fills that product line void for Unilever while helping keep them on par with their major competitors in the food and beverage space. It remains to be seen how they will be used post-acquisition, but Onnit’s current endorsers such as Joe Rogan and various professional athletes may have played a role in Unilever’s interest in the Onnit brand.
WWE on Peacock Boosts Comcast
In an industry where exclusive content helps drive profits, Comcast’s streaming service via NBCUniversal, Peacock, has helped increase revenue $600 million year-over-year through their programming. While just beginning their exclusive, 5-year partnership with World Wrestling Entertainment in January 2021, Peacock is already attributing their major gains in the sports streaming market to this relationship. Over 1 million subscribers of the former WWE Network made the switch to Peacock and WrestleMania 37 had more viewers than any other live event streamed on Peacock to this point. Along with the WWE, Peacock will remain a major player in sports streaming due to agreements with the English Premier League, National Football League, and upcoming Premier Lacrosse League.
Be on the lookout next week for the usual round-up of sponsorship news.