Welcome to the blog of Dr. Lisa Burns' Media Studies senior capstone class (Section A) at Quinnipiac University. If you're looking for the latest on media industry trends and insightful media analysis, you've come to the right place.
Friday, April 7, 2017
Sports & Celebrity Blog 7, Question 2 (April 11th)
Why is branding so important in
sports? How is it similar to, and different from, celebrity branding? What are some of the ways that successful athletes
and franchises leverage their brands in the marketplace? Limit:
7 responses
Branding consists of an individual creating an image of how he or she would like to be seen and thought of by others. It’s equally as important for celebrities as it is for sports team/athletes because it’s a representation of who you are. Branding has an influence on sponsors, social media accounts, who you choose to work with and more. Overall, it gives a team or person a unique identity (Schäferhoff). Sports teams are extremely successful and it’s amazing the amount of revenue that a single team can make in one year. As stated in Forbes Releases the World’s Highest-Paid Athletes List 2016, written by Forbes Corporate Communications, “The top 100 athletes earned a total of $3.15 billion over the last 12 months, a slight decrease from last year’s earnings of $3.2 billion…Overall earnings for the top 100 athletes were down, but endorsement income rose 11% to $924 million” (Forbes Corporate Communications). Professional soccer player on Real Madrid, Cristiano Ronaldo, is currently the highest paid-athlete in the world. Last year, he made $56 million, but that was only his salary. He also made $32 million from endorsements, which means Ronaldo made a total of $88 million in 2016. This proves why branding is so important in sports. Teams rely heavily on the income coming in through fans paying for things such as seats for the games, but sponsorships and endorsements help tremendously as well. In 2016, the top five most valuable sports team were the Dallas Cowboys, Real Madrid, Barcelona, New York Yankees and fifth, is Manchester United. As stated in the article, Dallas Cowboys Head the World’s 50 Most Valuable Sports Teams of 2016, “The Cowboys are the poster child for the NFL’s ability to make bank, with a sports-team record $270 million in operating profit during the 2014 season, $75 million more than any other franchise” (Badenhausen). The Cowboys are a great example of how important branding is for a sports team because they are currently the highest-paid team, but most people wouldn’t assume that. Before I read this article, I thought that the New England Patriots would have definitely surpassed the Cowboys because of their record and overall “winners” image that they portray. The Cowboys haven’t made it to the Super Bowl over the past two decades, but their owner, Jerry Jones, has done an outstanding job at maximizing all the revenue. “The team’s premium seat revenue ($125 million) and sponsorship revenue ($120 million) are both tops in the NFL. The Cowboys are also the only team to opt out of the NFL’s licensed merchandise agreement” (Badenhausen). Jerry Jones may be 73 years old, but he’s still so vibrant and has benefitted this team greatly. According to Jones in The Star Polishes Cowboys’ brand, but the real value is in Jones family’s investment in amateur athletics, “The real value here is not the architecture, not the building, not the tangible investment. It’s the Cowboys hooking up with amateur athletics, kids, youth, moms and dads, if nothing else being something for them to touch and feel and build confidence” (Moore). Jones is great at branding for the Cowboys because he knows the image he wants to continue to establish. He wants the younger generation to get a chance to “hang out” and play around with professional football players, which is also a confidence booster. The story Jones and this team has created is fantastic because it’s genuine and fans remain loyal to the Cowboys.
Celebrity branding is just as important as sports branding, and it’s extremely similar. Celebrities take branding very seriously because it’s all about their image. Currently, Beyoncé is the most valuable personality on social media and she’s only the 22nd most followed person online. This is similar to the Cowboys and Patriots example that I touched upon previously because it doesn’t matter if you are the most popular person/team in your area of business. What matters, is the personality and the image you have built. As stated in One Social Media Post from Beyoncé is Worth $1 Million in Advertising, “Mrs. Carter’s success is likely largely due to the authenticity she manages to convey her fans. She rarely puts up posts that are overtly commercial, instead recently favoring pics of herself with daughter, Blue Ivy Carter and informational pieces celebrating Black History Month” (Ang). Besides her social media presence, her music career is also a part of her image. She played a prominent role in the Grammy Awards, her pregnancy news basically took over the internet, and she released the album “Lemonade” that fans obsess over (Ang). Celebrities are either open or private about their personal lives. Depending on that, sponsorships and endorsements will either choose you or not choose you to promote their product. Again, it all comes back to the image. Beyoncé might be chosen for certain social media posts because her personality is more private. Sometimes, these types of celebrities who post less frequently can seem more “real,” as opposed to celebrities such as Kylie Jenner, who post so frequently that a fan might not care about what she’s promoting. Branding is important for everyone. Every sports team and celebrity has an image that they want people to see. It’s unbelievable the amount of revenue that sponsorships and endorsements can generate. Celebrities and sports team can continue to make millions by choosing endorsements they truly believe in. If someone agrees to an endorsement deal on a product that they don’t support, then it’s less likely that fans will want to buy it. It’s also important to keep up their image. Companies will be more inclined to work with people with better personalities.
Citation page:
Ang, Kristiano. "One Social Media Post from Beyonce Is worth $1 Million in Advertising." Money-ish. Money-ish, 21 Feb. 2017. Web. 10 Apr. 2017.
Badenhausen, Kurt. "Dallas Cowboys Head The World's 50 Most Valuable Sports Teams Of 2016." Forbes. Forbes Magazine, 15 Aug. 2016. Web. 10 Apr. 2017.
Communications, Forbes Corporate. "Forbes Releases The World's Highest-Paid Athletes List 2016." Forbes. Forbes Magazine, 08 June 2016. Web. 10 Apr. 2017.
Moore, David. "The Star Polishes Cowboys' Brand, but the Real Value Is in Jones Family's Investment in Amateur Athletics." SportsDay. N.p., 28 Aug. 2016. Web. 10 Apr. 2017.
Schäferhoff, Nick. "Sports Team Branding and How to Do It Right." ThemeBoy. ThemeBoy, 14 Dec. 2016. Web. 10 Apr. 2017.
Branding is extremely important to any business or organization. For sport franchises branding is just as important. In the US and around the world sports play a big role in our culture. Branding correctly in sports ensures that your fans and sponsors continue to support you and the team. Branding allows the team to create an identity that fans will align with and in turn support year after year. The Dallas Cowboys are an example of this; they are known around the country and are currently the most valuable team in the NFL. Even though the team hasn’t won the Super Bowl since 1995, they still top the list for seat revenue and sponsorship revenue (Badenhausen). A lot of this has to do with the branding behind the team. They are not only the most valuable team but also the most talked about team in the NFL, people who don’t even pay much attention to football know who the Dallas Cowboys are. People buy hats, shirts and jersey with the star logo on it even if they aren’t fans. They have also branded their cheerleading team and have created a whole franchise behind it. Sports branding is both similar and different from celebrity branding. Image is the most important factor in both forms of branding. The Kardashian family is a brand that has built up an interesting reputation. For most brands, you want to be loved but for the Kardashians they have used the hate they receive to create an empire. People love to hate the Kardashians that has worked out extremely well in their favor. Celebrity branding is a little different from sports branding because in celebrity branding, you need to capitalize on everything that is remotely appealing to your audience while in sports branding they seem to stay true to the classics that fans enjoy. The Kardashian family “have 216 collective trademark applications” with many being abandoned. They have capitalized on everything from books, clothes, makeup and accessories. They also have licensing deals that bring in a ton of revenue to the family (Hines).
A big way that sport franchises brand themselves is through the athletes. People associate the athlete with team, and for some people they will support their favorite athlete throughout whatever team they play for. LeBron James has turned his name into a franchise. In 2015, LeBron merged his own brand with Nike for a reportedly $30 million annually. Through this James is creating a brand similar to what Michael Jordan did. James has had sponsorship deals with Nike throughout his playing career but this merger is different. “Nike is betting on LeBron James the business man and LeBron James the brand and its potential staying power long beyond his playing days are over” (Gaines). This shows how well James has branded his own company and name. He was able to create something that will last well beyond his playing career and ensure that his legacy continues on.
Badenhausen, Kurt. "Dallas Cowboys Head The World's 50 Most Valuable Sports Teams Of 2016." Forbes. Forbes Magazine, 15 Aug. 2016. Web. 11 Apr. 2017. Hines, Alice. "The Kardashians will be here forever." The Outline. The Outline, 27 Dec. 2016. Web. 11 Apr. 2017. Gaines, Cork. "Why LeBron James' record-breaking deal with Nike is a game-changer." Business Insider. Business Insider, 08 Dec. 2015. Web. 11 Apr. 2017.
Consumers tend to develop a strong sense of connection with the sporting brands that they choose to associate with. Considering the vast number of alternatives in the market, sports brands take their brandings very seriously, and they spend most of their marketing efforts on advertising and celebrity endorsements. This is because celebrity athletes really hit two birds with one stone for these companies as they have influence that comes with their fame, and their professions install a sense of reliability onto the brands they promote. In many ways, I think that sports branding is essentially the same as celebrity branding. Sports companies hire celebrities to promote their merchandise, but this can be both on or off-camera. It is natural because it’s definitely not as staged as much as a celebrity endorsement seen on Instagram; and it’s still very much out there when you see a brand name on their clothes or on the water bottle they drink from. Many brands sponsor celebrities to get viewing-time on TV when athletes are actually on the field. I think this is the most influential way for sports brands to advertise their products because it is natural and yet very much of an in-your-face form of advertising. Sports fans that companies target as their customer base are sure to be subject to these images which then influences them to go and use the same products. Athletes who are truly successful tend to branch out of their fields onto other areas. This is purely to expand their own brand and use their professional success and reputation to make more money on other markets like fashion or entertainment. Looking at the top-earning athletes from 2016, we see Cristiano Ronaldo on the top of the list. Ronaldo is an athlete who has perfectly demonstrated a convergence of his name throughout different industries. He has his own underwear line, footwear brand, sock line, fragrance, and many other brands that he collaborates with in design. He has his own website, cristianoronaldo.com where you can really see him marketing his name as if it is a brand. So for a sporting company to have Cristiano Ronaldo promote their products, they are essentially benefiting from the branding that he does for himself and the reputation that he has earned. Overall, sports companies have a sound reason for investing so much on athletes to promote their brands both on and off-screen. With such strong competition, brands not have to attract consumers, but also develop new ways to keep them coming back for their products.
The change in generations and interests has taken a big impact on the way companies have to market themselves. Branding for a company or organization is more important than ever, being able to keep up with the constant changes in technology and popularity is something they have to keep an eye on. The sports industry has to battle with other industries in order to stay relevant. They need to keep people interested in games that last hours and often times nothing big actually happens. In Greg Hadley’s article he points out how valuable time is for millennials and just how short our attention span is. "Obviously people, particularly millennials, have increasingly short attention spans, so it's something as a business we need to pay attention to," (Hadley, 1). Sports branding has tried to stick with the trends and revamp the way they release content by allowing streaming services for games. “There is a lot of demand for services like this, but there are only a few established service providers in the market,” (Dachman, 1). Having these streaming services they are adjusting to the ways the newer generations are consuming media. They have to constantly modify themselves to better suit their audience because much like celebrities, without their fans they are nothing. One of the biggest differences I noticed between celebrity and sports branding is the leeway celebrities have to engage their fans. Celebrities have a lot more options when it comes to keeping people interested and essentially selling themselves. One of the best celebrities in the business is Kim Kardashian. People may love to hate her but she is one of the smartest people in the business right now because of the way she brands her name. She keeps people interested in her life through different media platforms and is active on her social media handles. Her app is very popular and allows you access to how her life is on the daily basis. That sense of exclusivity is what draws people in, that’s something that sports branding lacks. People love drama and sports doesn’t really have that unless it involves the personal lives of the players.
So, creating new ways to engage their audience is more important than ever. One of the downsides is that if one player from a team messes up the whole team looks bad not just the individual. That’s one of the benefits of celebrity branding, they usually only make themselves look bad and don’t have to drag others down with them (unless they want to). I think Lebron James does a great job in branding himself and I wonder if it has to deal with the fact that he is not only a basketball player but also an actor and entrepreneur. He has found a way to market himself in different ways, he continue to set the standard for others to be as successful as branding himself (not just his team). “This is not Nike signing another athlete to promote shoes and maybe some apparel. This is a merger between two corporations, Nike and the LeBron James brand..In other words, LeBron just ceased being a basketball player. That side still exists, but it is now just one department in a much bigger business,” (Gaines, 1). Celebrities and athletes have found ways to brand their name and their talent to keep others interested and engaged. The dynamics are ultimately the same but just have to be executed differently.
Gaines, Cork. "Why Lebron James' Record-Breaking Deal With Nike Is A Game-Changer". Business Insider. N.p., 2015. Web. 11 Apr. 2017.
Hadley, Greg. "Millennials And Their Short Attention Spans Have The NBA Considering Rule Changes | The Sacramento Bee". Sacbee.com. N.p., 2017. Web. 11 Apr. 2017.
(1/2) Branding in sports is so important because you not only have to brand the team as a whole you have to brand the individuals on the team as well. Some people will be diehards for a team no matter who is playing or if the team is losing. There are others that will switch the team they support simply because their favorite player moved to another team. So to keep a fan base for a team you need to have a well-branded team but also some star players that will draw people to the team. The New York Yankees are a prime example of people who will leave just for a player but also have people who will stay just because they support the Yankees. “The New York Yankees rank fourth, worth $3.4 billion, up 6%. The Bronx Bombers head seven MLB teams in the top 50, down from 12 the previous year. Attendance fell 5.5% last year in the Bronx in the first season without Derek Jeter at short in two decades. The 3.2 million fans were still tops in the American League.” (Badenhausen) Branding in sports is similar to celebrity branding because both are endorsing products for money. Some things will be hit, but others will be a miss for both. The Kardashians are a prime for hitting and missing the market when trying to build up their brands. Have you ever heard of Kim’s cupcake mix? Or ever tried one of their makeup products that Kim, Kourtney, and Khloe made? No probably not, because let's be real why would you? Things that have taken off for the Kardashian and Jenner clan are Kiley’s LipKits, and Khloé’s Good American Jean’s. “Kylie Jenner’s lip kit, a liquid matte lipstick and liner duo, sold out within 10 minutes... Khloé Kardashian’s latest venture, the denim brand Good American, sold $1 million worth of jeans on its first day of launch, according to a company press release.” (Hines) In sports, they have companies that they will build solely around the team or the player. They will also pair with food and drink companies to use in their arenas. However, in celebrity branding sometimes it’s safer just to have deals with companies, this way you aren’t losing out on money if there comes a problem but gaining if the product flops or succeeds. “They’re not always companies, in fact, but a mix of licensing deals, in which other brands pay to be able to use a famous name; sponsorships, where a celebrity agrees to appear in #ads and generally shill for, say, QuickTrim diet pills; and businesses that the family does in fact own itself, whose products are mostly produced by outside manufacturers.”(Hines)
(2/2) Some of the successful ways that athletes and franchises leverage their brand in the marketplace is by finding one of the athletes to be a brand ambassador for the product. The athlete is searching for a name embodies what they stand for the franchise wants someone who is successful and has a big following in their target market. If you take someone like Bob Litwin, who is a 17-time US National Tennis Champion and coach, and pair him up with a Nike campaign targeting baby boomers, you would have a hit. “To date, I haven’t seen many brands targeting physically active Boomers, but a campaign with active, fit, influential boomers promoting the benefits of physical activity and your product, is a winner” (Fidelman) Badenhausen, Kurt. "Dallas Cowboys Head The World's 50 Most Valuable Sports Teams Of 2016." Forbes. Forbes Magazine, 15 Aug. 2016. Web. 10 Apr. 2017. Fidelman, Mark. “6 Powerful Sports Marketing Promotions That Are Better Than Google.” Forbes. Forbes Leadership, 12 Feb. 2014. Web. Hines, Alice. “The Kardashian Empire is Bigger and Weirder than You Think.” The Outline. The Outline, 28 Dec. 2016. Web.
Branding, unsurprisingly, is extremely important to the sports business. As with all businesses, brands are critical for creating business value, and strong brands command customer loyalty and premium prices. Branding is central to many sports business transactions, especially sponsorship deals and product merchandising (WIPO). Branding is so important in sports because a significant amount of money can be generated from leveraging image rights. Sports celebrities can register themselves as trademarks, not only their name but also nicknames, poses, slogans, signatures, and more (WIPO). If you take a look at the world’s highest-paid athletes in 2016, you can see just how much money their brand generates for them in addition to their salaries. For instance, LeBron James’ salary is $23.2 million, yet in 2016 his total earnings were $77.2 million (Forbes). More than half of LeBron’s earnings came from his other business endeavors, proving just how lucrative and important branding can be for making money in the world of sports. Sports branding is in many ways similar to celebrity branding. We can see lots of parallels when we compare the branding to celebrities to the branding of star athletes. One of the biggest “prerequisite” of being a celebrity seems to be the ability to use your fame as a commodity. Similar to how star athletes make money from endorsement deals, celebrities also can make a ton of money from endorsing products. It’s been reported that a single social media post Pop Star Selena Gomez has an “ad equivalent” value of $550,000, making her the most statistically influential person on social media (Heine). When it comes to individuals, there really isn’t much difference between the branding of star athletes and other celebrities because star athletes tend to be celebrities in their own right. Only when we look at the branding involved with entire leagues or franchises do we start to see a difference – especially when it comes to the amount of money that’s involved. One of the ways sports franchises leverage their brands in the marketplace come from broadcast rights. When it comes to entire leagues, their brands can be so powerful that they can leverage an absolutely insane amount of money. For example, Roger Goodell, the commissioner for the NFL, sold the broadcasting rights just for 10 Thursday night games to CBS and NBC for a total of $900 million (Badenhausen). Similar to how individual athletes can receive endorsements, team franchises can also leverage their brand to receive endorsements. One of the most notable franchise endorsement deals of 2016 was an agreement the Barcelona soccer team make with Nike, which is expected to set a record and be worth as much as $175 million in a year (Badenhausen). Works Cited Badenhausen, Kurt. "Dallas Cowboys Head The World's 50 Most Valuable Sports Teams Of 2016." Forbes. Forbes Magazine, 15 Aug. 2016. Web. 11 Apr. 2017. Communications, Forbes Corporate. "Forbes Releases The World's Highest-Paid Athletes List 2016." Forbes. Forbes Magazine, 08 June 2016. Web. 11 Apr. 2017. Heine, Chris. "Selena Gomez's Social Media Posts Are Evidently Worth $550,000 Apiece." Adweek. Adweek, n.d. Web. 11 Apr. 2017. WIPO. "Sport and Branding." WIPO - World Intellectual Property Organization. N.p., n.d. Web. 11 Apr. 2017.
Branding is technically something that everyone uses in their everyday lives, “Branding is about establishing an image of how you would like to be seen and thought of by others,” (Schåferhoff). When it comes to sports the branding is more about the fans, sponsors, club members and their personalities and performance. You want them to perceive you, not only so they buy a product, but also so they support the team and continuously cheer you on. Branding a sports team in a certain way gives the team its own identity and hopefully an identity people will really relate to. Without this undying support from fans and sponsors, etc., the sports team would not be able to stay afloat. Teams’ profits have a lot to do with how the team was branded.
If a team is branded correctly, they do not have to rely heavily on winning seasons and championships. For example, the Dallas Cowboys have not won a Super Bowl since 1995, but still have one of the strongest fan bases in the league, “The team’s premium seat revenue ($125 million) and sponsorship revenue ($120 million) are both tops in the NFL, despite the Cowboys’ failure to make it to the Super Bowl over the past two decades,” (Badenhausen). Though they are not currently the best team in the world, or the most popular, they are still widely known by football fans and non-football fans around the globe. The team has been given an identity that is supported and likes by many.
Celebrity branding is different from sports branding in the sense that branding for a celebrity is just for one person and a more unique audience, whereas sports you are branding an entire team or franchise that has a wider audience. However its importance is just as high and still has similarities. Celebrities, especially more recently, have been placing more importance on their branding. Celebrities have always relied heavily on their image, but with the recent rise in various media platforms, they rely on it even more. Celebrity branding is also about creating an identity and image that fans can relate too, and like sports is not always about being the number one liked celebrity. For example, Selena Gomez in the most followed celebrity on Instagram, but Beyoncé has surpassed her as the most influential celebrity on the platform. She has recently become the only influencer to cross the million-dollar value line when it comes to Instagram posts (Bailey). This has a lot to do with what she posts on Instagram. Her recent posts have been more authentic rather than commercial, which her fans seem to really relate to and identify with, “Mrs. Carter’s success is likely largely due to the authenticity she manages to convey to her fans.” As well as many family pictures, Beyoncé has posted many things related to social movements, (Ang).
Teams and franchises rely heavily on single athletes when it comes to branding the team as a whole. When a player is popular enough, they carry the team name with them wherever they go. Many franchises have been successful in using a player to help brand. The whole idea of Tom Brady being the best quarter back in the history of the NFL has helped the Patriots strengthen their brand. They rely heavily on him and other players to build their brand.
Carly Knowles.
ReplyDeleteBranding consists of an individual creating an image of how he or she would like to be seen and thought of by others. It’s equally as important for celebrities as it is for sports team/athletes because it’s a representation of who you are. Branding has an influence on sponsors, social media accounts, who you choose to work with and more. Overall, it gives a team or person a unique identity (Schäferhoff).
Sports teams are extremely successful and it’s amazing the amount of revenue that a single team can make in one year. As stated in Forbes Releases the World’s Highest-Paid Athletes List 2016, written by Forbes Corporate Communications, “The top 100 athletes earned a total of $3.15 billion over the last 12 months, a slight decrease from last year’s earnings of $3.2 billion…Overall earnings for the top 100 athletes were down, but endorsement income rose 11% to $924 million” (Forbes Corporate Communications). Professional soccer player on Real Madrid, Cristiano Ronaldo, is currently the highest paid-athlete in the world. Last year, he made $56 million, but that was only his salary. He also made $32 million from endorsements, which means Ronaldo made a total of $88 million in 2016. This proves why branding is so important in sports. Teams rely heavily on the income coming in through fans paying for things such as seats for the games, but sponsorships and endorsements help tremendously as well.
In 2016, the top five most valuable sports team were the Dallas Cowboys, Real Madrid, Barcelona, New York Yankees and fifth, is Manchester United. As stated in the article, Dallas Cowboys Head the World’s 50 Most Valuable Sports Teams of 2016, “The Cowboys are the poster child for the NFL’s ability to make bank, with a sports-team record $270 million in operating profit during the 2014 season, $75 million more than any other franchise” (Badenhausen). The Cowboys are a great example of how important branding is for a sports team because they are currently the highest-paid team, but most people wouldn’t assume that. Before I read this article, I thought that the New England Patriots would have definitely surpassed the Cowboys because of their record and overall “winners” image that they portray. The Cowboys haven’t made it to the Super Bowl over the past two decades, but their owner, Jerry Jones, has done an outstanding job at maximizing all the revenue. “The team’s premium seat revenue ($125 million) and sponsorship revenue ($120 million) are both tops in the NFL. The Cowboys are also the only team to opt out of the NFL’s licensed merchandise agreement” (Badenhausen). Jerry Jones may be 73 years old, but he’s still so vibrant and has benefitted this team greatly. According to Jones in The Star Polishes Cowboys’ brand, but the real value is in Jones family’s investment in amateur athletics, “The real value here is not the architecture, not the building, not the tangible investment. It’s the Cowboys hooking up with amateur athletics, kids, youth, moms and dads, if nothing else being something for them to touch and feel and build confidence” (Moore). Jones is great at branding for the Cowboys because he knows the image he wants to continue to establish. He wants the younger generation to get a chance to “hang out” and play around with professional football players, which is also a confidence booster. The story Jones and this team has created is fantastic because it’s genuine and fans remain loyal to the Cowboys.
Knowles cont.
DeleteCelebrity branding is just as important as sports branding, and it’s extremely similar. Celebrities take branding very seriously because it’s all about their image. Currently, Beyoncé is the most valuable personality on social media and she’s only the 22nd most followed person online. This is similar to the Cowboys and Patriots example that I touched upon previously because it doesn’t matter if you are the most popular person/team in your area of business. What matters, is the personality and the image you have built. As stated in One Social Media Post from Beyoncé is Worth $1 Million in Advertising, “Mrs. Carter’s success is likely largely due to the authenticity she manages to convey her fans. She rarely puts up posts that are overtly commercial, instead recently favoring pics of herself with daughter, Blue Ivy Carter and informational pieces celebrating Black History Month” (Ang). Besides her social media presence, her music career is also a part of her image. She played a prominent role in the Grammy Awards, her pregnancy news basically took over the internet, and she released the album “Lemonade” that fans obsess over (Ang). Celebrities are either open or private about their personal lives. Depending on that, sponsorships and endorsements will either choose you or not choose you to promote their product. Again, it all comes back to the image. Beyoncé might be chosen for certain social media posts because her personality is more private. Sometimes, these types of celebrities who post less frequently can seem more “real,” as opposed to celebrities such as Kylie Jenner, who post so frequently that a fan might not care about what she’s promoting.
Branding is important for everyone. Every sports team and celebrity has an image that they want people to see. It’s unbelievable the amount of revenue that sponsorships and endorsements can generate. Celebrities and sports team can continue to make millions by choosing endorsements they truly believe in. If someone agrees to an endorsement deal on a product that they don’t support, then it’s less likely that fans will want to buy it. It’s also important to keep up their image. Companies will be more inclined to work with people with better personalities.
Citation page:
Ang, Kristiano. "One Social Media Post from Beyonce Is worth $1 Million in Advertising." Money-ish. Money-ish, 21 Feb. 2017. Web. 10 Apr. 2017.
Badenhausen, Kurt. "Dallas Cowboys Head The World's 50 Most Valuable Sports Teams Of 2016." Forbes. Forbes Magazine, 15 Aug. 2016. Web. 10 Apr. 2017.
Communications, Forbes Corporate. "Forbes Releases The World's Highest-Paid Athletes List 2016." Forbes. Forbes Magazine, 08 June 2016. Web. 10 Apr. 2017.
Moore, David. "The Star Polishes Cowboys' Brand, but the Real Value Is in Jones Family's Investment in Amateur Athletics." SportsDay. N.p., 28 Aug. 2016. Web. 10 Apr. 2017.
Schäferhoff, Nick. "Sports Team Branding and How to Do It Right." ThemeBoy. ThemeBoy, 14 Dec. 2016. Web. 10 Apr. 2017.
Branding is extremely important to any business or organization. For sport franchises branding is just as important. In the US and around the world sports play a big role in our culture. Branding correctly in sports ensures that your fans and sponsors continue to support you and the team. Branding allows the team to create an identity that fans will align with and in turn support year after year. The Dallas Cowboys are an example of this; they are known around the country and are currently the most valuable team in the NFL. Even though the team hasn’t won the Super Bowl since 1995, they still top the list for seat revenue and sponsorship revenue (Badenhausen). A lot of this has to do with the branding behind the team. They are not only the most valuable team but also the most talked about team in the NFL, people who don’t even pay much attention to football know who the Dallas Cowboys are. People buy hats, shirts and jersey with the star logo on it even if they aren’t fans. They have also branded their cheerleading team and have created a whole franchise behind it.
ReplyDeleteSports branding is both similar and different from celebrity branding. Image is the most important factor in both forms of branding. The Kardashian family is a brand that has built up an interesting reputation. For most brands, you want to be loved but for the Kardashians they have used the hate they receive to create an empire. People love to hate the Kardashians that has worked out extremely well in their favor. Celebrity branding is a little different from sports branding because in celebrity branding, you need to capitalize on everything that is remotely appealing to your audience while in sports branding they seem to stay true to the classics that fans enjoy. The Kardashian family “have 216 collective trademark applications” with many being abandoned. They have capitalized on everything from books, clothes, makeup and accessories. They also have licensing deals that bring in a ton of revenue to the family (Hines).
A big way that sport franchises brand themselves is through the athletes. People associate the athlete with team, and for some people they will support their favorite athlete throughout whatever team they play for. LeBron James has turned his name into a franchise. In 2015, LeBron merged his own brand with Nike for a reportedly $30 million annually. Through this James is creating a brand similar to what Michael Jordan did. James has had sponsorship deals with Nike throughout his playing career but this merger is different. “Nike is betting on LeBron James the business man and LeBron James the brand and its potential staying power long beyond his playing days are over” (Gaines). This shows how well James has branded his own company and name. He was able to create something that will last well beyond his playing career and ensure that his legacy continues on.
DeleteBadenhausen, Kurt. "Dallas Cowboys Head The World's 50 Most Valuable Sports Teams Of 2016." Forbes. Forbes Magazine, 15 Aug. 2016. Web. 11 Apr. 2017.
Hines, Alice. "The Kardashians will be here forever." The Outline. The Outline, 27 Dec. 2016. Web. 11 Apr. 2017.
Gaines, Cork. "Why LeBron James' record-breaking deal with Nike is a game-changer." Business Insider. Business Insider, 08 Dec. 2015. Web. 11 Apr. 2017.
Consumers tend to develop a strong sense of connection with the sporting brands that they choose to associate with. Considering the vast number of alternatives in the market, sports brands take their brandings very seriously, and they spend most of their marketing efforts on advertising and celebrity endorsements. This is because celebrity athletes really hit two birds with one stone for these companies as they have influence that comes with their fame, and their professions install a sense of reliability onto the brands they promote.
ReplyDeleteIn many ways, I think that sports branding is essentially the same as celebrity branding. Sports companies hire celebrities to promote their merchandise, but this can be both on or off-camera. It is natural because it’s definitely not as staged as much as a celebrity endorsement seen on Instagram; and it’s still very much out there when you see a brand name on their clothes or on the water bottle they drink from. Many brands sponsor celebrities to get viewing-time on TV when athletes are actually on the field. I think this is the most influential way for sports brands to advertise their products because it is natural and yet very much of an in-your-face form of advertising. Sports fans that companies target as their customer base are sure to be subject to these images which then influences them to go and use the same products.
Athletes who are truly successful tend to branch out of their fields onto other areas. This is purely to expand their own brand and use their professional success and reputation to make more money on other markets like fashion or entertainment. Looking at the top-earning athletes from 2016, we see Cristiano Ronaldo on the top of the list. Ronaldo is an athlete who has perfectly demonstrated a convergence of his name throughout different industries. He has his own underwear line, footwear brand, sock line, fragrance, and many other brands that he collaborates with in design. He has his own website, cristianoronaldo.com where you can really see him marketing his name as if it is a brand. So for a sporting company to have Cristiano Ronaldo promote their products, they are essentially benefiting from the branding that he does for himself and the reputation that he has earned.
Overall, sports companies have a sound reason for investing so much on athletes to promote their brands both on and off-screen. With such strong competition, brands not have to attract consumers, but also develop new ways to keep them coming back for their products.
Works Cited
DeleteAng, Kristiano. "One Social Media Post from Beyonce Is worth $1 Million in Advertising." Money-ish. Money-ish, 21 Feb. 2017. Web. 10 Apr. 2017.
Badenhausen, Kurt. "Dallas Cowboys Head The World's 50 Most Valuable Sports Teams Of 2016." Forbes. Forbes Magazine, 15 Aug. 2016. Web. 10 Apr. 2017.
Communications, Forbes Corporate. "Forbes Releases The World's Highest-Paid Athletes List 2016." Forbes. Forbes Magazine, 08 June 2016. Web. 11 Apr. 2017.
Michelle Garcia
ReplyDeleteMSS*495*A
4/11/17
Blog Post 7
The change in generations and interests has taken a big impact on the way companies have to market themselves. Branding for a company or organization is more important than ever, being able to keep up with the constant changes in technology and popularity is something they have to keep an eye on. The sports industry has to battle with other industries in order to stay relevant. They need to keep people interested in games that last hours and often times nothing big actually happens. In Greg Hadley’s article he points out how valuable time is for millennials and just how short our attention span is. "Obviously people, particularly millennials, have increasingly short attention spans, so it's something as a business we need to pay attention to," (Hadley, 1). Sports branding has tried to stick with the trends and revamp the way they release content by allowing streaming services for games. “There is a lot of demand for services like this, but there are only a few established service providers in the market,” (Dachman, 1). Having these streaming services they are adjusting to the ways the newer generations are consuming media.
They have to constantly modify themselves to better suit their audience because much like celebrities, without their fans they are nothing. One of the biggest differences I noticed between celebrity and sports branding is the leeway celebrities have to engage their fans. Celebrities have a lot more options when it comes to keeping people interested and essentially selling themselves. One of the best celebrities in the business is Kim Kardashian. People may love to hate her but she is one of the smartest people in the business right now because of the way she brands her name. She keeps people interested in her life through different media platforms and is active on her social media handles. Her app is very popular and allows you access to how her life is on the daily basis. That sense of exclusivity is what draws people in, that’s something that sports branding lacks. People love drama and sports doesn’t really have that unless it involves the personal lives of the players.
So, creating new ways to engage their audience is more important than ever. One of the downsides is that if one player from a team messes up the whole team looks bad not just the individual. That’s one of the benefits of celebrity branding, they usually only make themselves look bad and don’t have to drag others down with them (unless they want to). I think Lebron James does a great job in branding himself and I wonder if it has to deal with the fact that he is not only a basketball player but also an actor and entrepreneur. He has found a way to market himself in different ways, he continue to set the standard for others to be as successful as branding himself (not just his team). “This is not Nike signing another athlete to promote shoes and maybe some apparel. This is a merger between two corporations, Nike and the LeBron James brand..In other words, LeBron just ceased being a basketball player. That side still exists, but it is now just one department in a much bigger business,” (Gaines, 1). Celebrities and athletes have found ways to brand their name and their talent to keep others interested and engaged. The dynamics are ultimately the same but just have to be executed differently.
DeleteReferences
Dachman, Jason. "NBC’S Playmaker Media, Turner’S Istreamplanet Combo Aims To Reshape Booming OTT/VOD-Services Market". Sports Video Group. N.p., 2017. Web. 11 Apr. 2017.
Gaines, Cork. "Why Lebron James' Record-Breaking Deal With Nike Is A Game-Changer". Business Insider. N.p., 2015. Web. 11 Apr. 2017.
Hadley, Greg. "Millennials And Their Short Attention Spans Have The NBA Considering Rule Changes | The Sacramento Bee". Sacbee.com. N.p., 2017. Web. 11 Apr. 2017.
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ReplyDeleteBranding in sports is so important because you not only have to brand the team as a whole you have to brand the individuals on the team as well. Some people will be diehards for a team no matter who is playing or if the team is losing. There are others that will switch the team they support simply because their favorite player moved to another team. So to keep a fan base for a team you need to have a well-branded team but also some star players that will draw people to the team. The New York Yankees are a prime example of people who will leave just for a player but also have people who will stay just because they support the Yankees. “The New York Yankees rank fourth, worth $3.4 billion, up 6%. The Bronx Bombers head seven MLB teams in the top 50, down from 12 the previous year. Attendance fell 5.5% last year in the Bronx in the first season without Derek Jeter at short in two decades. The 3.2 million fans were still tops in the American League.” (Badenhausen)
Branding in sports is similar to celebrity branding because both are endorsing products for money. Some things will be hit, but others will be a miss for both. The Kardashians are a prime for hitting and missing the market when trying to build up their brands. Have you ever heard of Kim’s cupcake mix? Or ever tried one of their makeup products that Kim, Kourtney, and Khloe made? No probably not, because let's be real why would you? Things that have taken off for the Kardashian and Jenner clan are Kiley’s LipKits, and Khloé’s Good American Jean’s. “Kylie Jenner’s lip kit, a liquid matte lipstick and liner duo, sold out within 10 minutes... Khloé Kardashian’s latest venture, the denim brand Good American, sold $1 million worth of jeans on its first day of launch, according to a company press release.” (Hines) In sports, they have companies that they will build solely around the team or the player. They will also pair with food and drink companies to use in their arenas. However, in celebrity branding sometimes it’s safer just to have deals with companies, this way you aren’t losing out on money if there comes a problem but gaining if the product flops or succeeds. “They’re not always companies, in fact, but a mix of licensing deals, in which other brands pay to be able to use a famous name; sponsorships, where a celebrity agrees to appear in #ads and generally shill for, say, QuickTrim diet pills; and businesses that the family does in fact own itself, whose products are mostly produced by outside manufacturers.”(Hines)
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DeleteSome of the successful ways that athletes and franchises leverage their brand in the marketplace is by finding one of the athletes to be a brand ambassador for the product. The athlete is searching for a name embodies what they stand for the franchise wants someone who is successful and has a big following in their target market. If you take someone like Bob Litwin, who is a 17-time US National Tennis Champion and coach, and pair him up with a Nike campaign targeting baby boomers, you would have a hit. “To date, I haven’t seen many brands targeting physically active Boomers, but a campaign with active, fit, influential boomers promoting the benefits of physical activity and your product, is a winner” (Fidelman)
Badenhausen, Kurt. "Dallas Cowboys Head The World's 50 Most Valuable Sports Teams Of 2016." Forbes. Forbes Magazine, 15 Aug. 2016. Web. 10 Apr. 2017.
Fidelman, Mark. “6 Powerful Sports Marketing Promotions That Are Better Than Google.” Forbes. Forbes Leadership, 12 Feb. 2014. Web.
Hines, Alice. “The Kardashian Empire is Bigger and Weirder than You Think.” The Outline. The Outline, 28 Dec. 2016. Web.
ReplyDeleteBranding, unsurprisingly, is extremely important to the sports business. As with all businesses, brands are critical for creating business value, and strong brands command customer loyalty and premium prices. Branding is central to many sports business transactions, especially sponsorship deals and product merchandising (WIPO). Branding is so important in sports because a significant amount of money can be generated from leveraging image rights. Sports celebrities can register themselves as trademarks, not only their name but also nicknames, poses, slogans, signatures, and more (WIPO). If you take a look at the world’s highest-paid athletes in 2016, you can see just how much money their brand generates for them in addition to their salaries. For instance, LeBron James’ salary is $23.2 million, yet in 2016 his total earnings were $77.2 million (Forbes). More than half of LeBron’s earnings came from his other business endeavors, proving just how lucrative and important branding can be for making money in the world of sports.
Sports branding is in many ways similar to celebrity branding. We can see lots of parallels when we compare the branding to celebrities to the branding of star athletes. One of the biggest “prerequisite” of being a celebrity seems to be the ability to use your fame as a commodity. Similar to how star athletes make money from endorsement deals, celebrities also can make a ton of money from endorsing products. It’s been reported that a single social media post Pop Star Selena Gomez has an “ad equivalent” value of $550,000, making her the most statistically influential person on social media (Heine). When it comes to individuals, there really isn’t much difference between the branding of star athletes and other celebrities because star athletes tend to be celebrities in their own right. Only when we look at the branding involved with entire leagues or franchises do we start to see a difference – especially when it comes to the amount of money that’s involved.
One of the ways sports franchises leverage their brands in the marketplace come from broadcast rights. When it comes to entire leagues, their brands can be so powerful that they can leverage an absolutely insane amount of money. For example, Roger Goodell, the commissioner for the NFL, sold the broadcasting rights just for 10 Thursday night games to CBS and NBC for a total of $900 million (Badenhausen). Similar to how individual athletes can receive endorsements, team franchises can also leverage their brand to receive endorsements. One of the most notable franchise endorsement deals of 2016 was an agreement the Barcelona soccer team make with Nike, which is expected to set a record and be worth as much as $175 million in a year (Badenhausen).
Works Cited
Badenhausen, Kurt. "Dallas Cowboys Head The World's 50 Most Valuable Sports Teams Of 2016." Forbes. Forbes Magazine, 15 Aug. 2016. Web. 11 Apr. 2017.
Communications, Forbes Corporate. "Forbes Releases The World's Highest-Paid Athletes List 2016." Forbes. Forbes Magazine, 08 June 2016. Web. 11 Apr. 2017.
Heine, Chris. "Selena Gomez's Social Media Posts Are Evidently Worth $550,000 Apiece." Adweek. Adweek, n.d. Web. 11 Apr. 2017.
WIPO. "Sport and Branding." WIPO - World Intellectual Property Organization. N.p., n.d. Web. 11 Apr. 2017.
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ReplyDeleteBranding is technically something that everyone uses in their everyday lives, “Branding is about establishing an image of how you would like to be seen and thought of by others,” (Schåferhoff). When it comes to sports the branding is more about the fans, sponsors, club members and their personalities and performance. You want them to perceive you, not only so they buy a product, but also so they support the team and continuously cheer you on. Branding a sports team in a certain way gives the team its own identity and hopefully an identity people will really relate to. Without this undying support from fans and sponsors, etc., the sports team would not be able to stay afloat. Teams’ profits have a lot to do with how the team was branded.
ReplyDeleteIf a team is branded correctly, they do not have to rely heavily on winning seasons and championships. For example, the Dallas Cowboys have not won a Super Bowl since 1995, but still have one of the strongest fan bases in the league, “The team’s premium seat revenue ($125 million) and sponsorship revenue ($120 million) are both tops in the NFL, despite the Cowboys’ failure to make it to the Super Bowl over the past two decades,” (Badenhausen). Though they are not currently the best team in the world, or the most popular, they are still widely known by football fans and non-football fans around the globe. The team has been given an identity that is supported and likes by many.
Celebrity branding is different from sports branding in the sense that branding for a celebrity is just for one person and a more unique audience, whereas sports you are branding an entire team or franchise that has a wider audience. However its importance is just as high and still has similarities. Celebrities, especially more recently, have been placing more importance on their branding. Celebrities have always relied heavily on their image, but with the recent rise in various media platforms, they rely on it even more. Celebrity branding is also about creating an identity and image that fans can relate too, and like sports is not always about being the number one liked celebrity. For example, Selena Gomez in the most followed celebrity on Instagram, but Beyoncé has surpassed her as the most influential celebrity on the platform. She has recently become the only influencer to cross the million-dollar value line when it comes to Instagram posts (Bailey). This has a lot to do with what she posts on Instagram. Her recent posts have been more authentic rather than commercial, which her fans seem to really relate to and identify with, “Mrs. Carter’s success is likely largely due to the authenticity she manages to convey to her fans.” As well as many family pictures, Beyoncé has posted many things related to social movements, (Ang).
Teams and franchises rely heavily on single athletes when it comes to branding the team as a whole. When a player is popular enough, they carry the team name with them wherever they go. Many franchises have been successful in using a player to help brand. The whole idea of Tom Brady being the best quarter back in the history of the NFL has helped the Patriots strengthen their brand. They rely heavily on him and other players to build their brand.
Ang, Kristiano. "One Social Media Post from Beyonce Is worth $1 Million in Advertising." Money-ish. Money-ish, 21 Feb. 2017. Web. 11 Apr. 2017.
DeleteBadenhausen, Kurt. "Dallas Cowboys Head The World's 50 Most Valuable Sports Teams Of 2016." Forbes. Forbes Magazine, 15 Aug. 2016. Web. 11 Apr. 2017.
Bailey, Alyssa. "Selena Gomez Is Not the #1 Celebrity Influencer on Social Media." ELLE. Elle Magazine, 04 Apr. 2017. Web. 11 Apr. 2017
Schäferhoff, Nick. "Sports Team Branding and How to Do It Right." ThemeBoy. ThemeBoy, 14 Dec. 2016. Web. 11 Apr. 2017.