NBA generates US$1.66bn in sponsorship revenue for 2022/23 season: The National Basketball Association (NBA), its franchises and venues cumulatively generated US$1.66 billion in sponsorship revenue for the 2022/23 season, according to a study by sponsorship consultancy IEG.
Confirmed:
- Sponsorship revenue rose narrowly by 1.3 per cent from the previous season’s total of US$1.6 billion
- The technology sector was the highest spending sponsorship category, with the cryptocurrency sector falling behind the telecoms category into third place
- The most active companies in terms of team sponsorships were Socios, Toyota, Verizon and Coca-Cola, with each having over 20 deals
- As well as IEG’s study, Chinese market specialist agency Mailman has ranked the Golden State Warriors as the most popular NBA franchise online in China
- Warriors star Steph Curry was found to be the most popular NBA player on Weibo, while Philadelphia 76ers guard James Harden had the highest popularity of all players on Douyin
Context:
IEG noted that this was the first season that the NBA did not increase its total number of league sponsorships since the 2018/19 campaign. The league saw four major deals dropped, including with the likes of Taco Bell, Mobil 1 and Beats by Dr Dre.
The cryptocurrency sector’s fall in sponsorship spend was attributed to the decline of FTX, which was said to account for more than US$20 million in spending.