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To attract more sponsors, the NBA has agreed to relax strict measures on advertising from liquor, casinos, and sports betting industries, lowering entry barriers for companies from these sectors and providing them with more exposure opportunities during games. As a result, the NBA will open up the baseline areas near the court, where advertising was previously not allowed. By easing sponsorship restrictions at this juncture, the NBA aims to help teams offset the substantial losses from the previous season and alleviate financial pressure.
Reportedly, the NBA's revenue declined by 10% to $8.3 billion during the 2019-2020 season, with ticket-related losses alone reaching $800 million.
Since the federal court lifted the ban on sports betting in 2018, the NBA's relationship with betting companies has improved. In August 2018, the NBA officially entered into a partnership agreement with the betting giant MGM Resorts International, becoming the first sports league in the United States to have a betting partner.
With an increasing number of states legalizing mobile sports betting in the United States, the NBA has high hopes for online sports betting programs. According to Front Office Sports, the NBA aims to launch more sports betting-related programs on television and broadcast media. During the 2019-20 season, the league collaborated with various media outlets, including TNT, Bleacher Report, The Action Network, Yahoo Sports, for live broadcasts or streaming experiments, featuring content such as gambling analysis and odds discussions.
Another measure by the NBA to help teams generate additional revenue is allowing teams to create digital content and display it on the second screen during live game broadcasts. For example, during halftime, a period without game footage, teams can showcase their official website or app. |
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Post time 31-1-2024 04:44:05