Last Week Today: July 19 – July 25, 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 July 19 – July 25, 2021.
Benz Bows Out, Caesars Steps In
After ten years in the Big Easy as the stadium naming rights partner for the Superdome in New Orleans, Mercedes-Benz has been replaced by a 20-year agreement with Caesars Entertainment. The deal, which shows additional softening by the NFL in regard to gambling partners, will net the Saints approximately $138 million over the 20 years. Most of these funds will be going right back into the stadium for it’s first major upgrades since the post-Katrina renovations. As with any major stadium renovations, this one has a goal in mind of 2024 when the Crescent City is once again hosting the Super Bowl.
The Games Still Gold for Broadcasters
The lack of fans at this year's Summer Olympics in Tokyo has not slowed down NBCUniversal from cashing in. Through sold advertisements during the games, the broadcast company will potentially double their ad revenue from the 2016 games in Rio. How much did those primetime spots during the Tokyo games cost? A cool $1.25 million per 30-second ad. While that may seem like a lot, NBCUniversal has been asking for around $6 million per similar spot during the upcoming Super Bowl. Reports say that the broadcaster has already sold over 80% of those Super Bowl spots.
Netflix Avoids Live Sports…For Now
As competitors like Amazon Prime dive headfirst into live sports one of the items Netflix is having to consider is how live sports impacts their model of on-demand programming that is largely free of blatant advertising. For now, it seems as though Netflix will be holding off on large spends for the rights to live sports. While many thought the move into live sports would be the obvious next step for Netflix, their focus will instead continue to be on their shows and movies as well as an upcoming investment in streaming gaming.
Gaming You Can Sweat To
On top of unique content such as partnerships with Beyoncé and a three-day virtual music festival, Peloton continues to take over the fitness world with a new video game. The app-based game will give riders the opportunity to further gamify workouts in this era of at-home gyms. Much like the standard workout classes, the game will also offer another opportunity for Peloton to highlight its partnerships with various musical artists through the in-game soundtrack.
Be on the lookout next week for the usual round-up of sponsorship news.