If you market, sell or activate banking sports partnerships, then you don’t want to miss this American Banker article.
SponsorUnited and Bob Lynch share key spending insights that will likely be impacted by the current environment.
“Pro sports are a major marketing channel for U.S. banks. A total of 144 different banks and credit unions have naming rights deals or other sponsorships with major league baseball, basketball, football, hockey and soccer teams, according to the data provider SponsorUnited.
Those financial institutions spend an average of $2.78 million annually on the sponsorships, which works out to a total of $400.7 million across the industry. And those are just the direct payments to teams.
Banks and credit unions likely spend two or three times as much money on other sports marketing, including TV and radio advertising, according to Bob Lynch, the president and founder of SponsorUnited.”
About SponsorUnited: SponsorUnited is a technology company building a marketplace for the next generation of sponsorship sales. Through our proprietary technology, machine learning and an extensive scouting network, we have compiled the most comprehensive mapping of sponsorship assets in the world. We provide tools for brands, properties and agencies to leverage this data to efficiently research, buy and sell sponsorships.
About American Banker: American Banker is a daily trade newspaper and website covering the financial services industry. Founded in 1836 and based in New York, American Banker has approximately 50 reporters and editors in six U.S. cities who monitor developments and breaking news affecting banks.