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Austin Karp is just here to play the intro for Terry Lefton, who is a little sick tonight.
This week, our venerable marketing/sponsorship reporter spoke to several SBJ insiders. Here’s what some of us had to say about our expectations heading into 2024.
Given economic issues and how the presidential election, along with wars in the Middle East and Europe, will impact the industry, opinions are divided on what the industry’s biggest issues will be in 2024.
From its perch in the corner of sports and commerce, it appears to be more an ebb and flow than a pessimistic prediction by market players. And elections and the Olympics generally increase sports media and marketing spending.
“It’s not as bleak as it was a year ago, but there’s nothing to say that we’re heading for an exit,” said Dan Griffiths, president of global partnerships at Oakview Group. “Everyone will tell you there’s more scrutiny on deals. The CEO and his CMO are becoming more data-driven, so everyone is trying harder to justify things. It has become.”
Alex Kerr, CEO/founder of agency Trajektory, said agencies are under pressure to differentiate their services through better data.
“It’s no longer just about TV and social media metrics,” Kerr said. “We need to provide more sophisticated data sets that provide a holistic view of how the entire portfolio is performing.”
Read the full column here.
- LeBron James has signed an exclusive multi-year deal with Fanatics’ trading cards and collectibles division after 20 years at Upper Deck, SBJ’s Tom Friend reports.
- FedEx will return to Joe Gibbs Racing this year after recently renewing its contract, but the company’s number of paint schemes highlights the drastic reduction in its presence in NASCAR in recent years, writes SBJ’s Adam Stern. ing.
- Bruin Capital is in the final stages of negotiating a deal to sell an 80% stake in marketing agency Two Circles to British private equity firm Charterhouse Capital Partners at a valuation of approximately $317 million. SBJ’s Chris Smith points out.
- Churchill Downs has entered into a multi-year agreement with Sports Illustrated to offer Club SI, a new fine dining experience at the track ahead of the historic 150th running of the Kentucky Derby in May. SBJ’s Brett McCormick reports that a naming rights deal has been signed.
- SBJ’s Ben Portnoy notes that the recent additions of Prudential and Great Clip bring the College Football Playoff’s sponsor roster to 15.
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