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The latest TV deal signed by the NBA could bring that league truly into the big time. Not only did the deal more than double the fees it would receive from the two networks that signed the deal, the NBA will enjoy the sort of long-term media rights that the NFL and MLB take for granted.
The networks in question, ESPN and Time Warner seems well pleased with the deal too. And why not? The NBA is growing in popularity, and the long drought of truly marketable stars across multiple teams has definitely come to an end. These factors are among those that impacted negotiations that would eventually give the networks rights to broadcast NBA games through the 2024-25 season, a ten-year deal that effectively replaces and extends the current deal, set to expire after the 2015-16 season.
Both Disney (ESPN’s parent company) and Time Warner were reportedly paying $500 million per year to broadcast NBA games. The current deals are said to be worth “at least twice” as much as that deal. Better still, in a world where the NFL Blackout rule was just lifted, the NBA will now be shown online via an ESPN online video service that would broadcast – wait for it – LIVE regular season games.
This aspect is a huge step in bringing at least one major sport into the 21st century. Now fans will be able to view games ANYWHERE they have high speed Internet. That option comes just as demand for NBA games has been higher than it has been in some time. During last year’s NBA finals, ESPN set several ratings records. Also, anecdotally, retailers have noticed as significant increase in the sale of basketball shoes.
Will the marketing and merchandising of the NBA return to the late 80s/early 90s heyday of Air Jordan and the Olympic Dream Team? The jury is still out on that one, but Torossian believes numbers don’t lie. The NBA has been working hard for several years to put a good product on the floor, and, with the help of several marquee players and their matchups, they have brought fans back in droves. Now … they just have to keep them.
And with this increase in viewership ability, especially the online/mobile aspect comes the increased potential for betting on the games. Already, NBA teams have begun entering into daily fantasy contest sponsorships, most notably the Orlando Magic, with more to come.
Ronn Torossian is CEO of 5WPR, which has been named PR Agency of the year
