NBA team sponsorship spending rises 7% YoY to hit US$1.5bn in 2023/24 season
According to SponsorUnited’s latest NBA Marketing & Partnerships Annual Report, there is unprecedented sponsorship growth fueled by Technological Innovation and global appeal.
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💸 National Basketball Association (NBA) sponsorship spending across its 30 franchises surpassed $1.5 billion during the 2023/24 season, marking a significant milestone.
🚀 Sponsorship revenue increased by 7% compared to the 2022/23 regular season, indicating robust growth and brand interest for the federation.
🆕 Finance ($247 million), technology ($122 million), and healthcare ($105 million) remain the top three sectors in sponsorship spending.
😯 Brands from the technology, automotive, alcohol, non-alcohol, and insurance sectors contributed over half of the total growth in sponsorship spend.
💰 Alcohol brands held the highest number of sponsorship deals for the fifth consecutive year, with 290 deals totalling $98 million in spending.
📈 The Washington Wizards led the league with 122 sponsorship deals, followed by the Toronto Raptors Basketball Club Inc. (114) and New Orleans Pelicans (109).
📉 Player endorsements have dropped by 15% over the past two seasons, with only 12 players securing ten or more deals.
📌 Emerging brand categories, overseas games, and new commercial inventory like the In-Season Tournament (title sponsored by Emirates) and LED courts have significantly boosted the NBA’s sponsorship income.
🚨 The number of technology sponsorships has increased sharply, driven by the growing necessity for digital transformation and cybersecurity.
🌟 The emergence of international stars like Victor Wembanyama has attracted additional attention, contributing to record-setting attendance and increased brand interest.
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