Tom Brady told the ESPN2 audience that he is giving the fan who snagged his 600th touchdown pass a Bitcoin, but don’t expect to see a lot of crypto discussion on ESPN airwaves anytime soon.
The network and league are reticent to enter the cryptocurrency advertising space. ESPN, in particular, is working through an internal review of the technology before diving into advertising.
“We are actively in conversations with key advertisers in this category,” Disney advertising sales senior VP Mike Denby told the Sports Business Journal. “And are thoroughly evaluating these companies and their products and services. We look forward to collaborating with many of these brands in the near future.”
Denby never told SBJ a timetable for when Disney may start working its way into the space. One anonymous media buyer told SBJ that he thinks it’s less a lack of knowledge and more protecting entrenched partners.
“What you are seeing is Disney taking a measured Disney approach,” The anonymous source said. “They also have a longtime base of other financial services sponsors they are certainly doing their best to protect.’’
Crypto ad spending is exploding across all types of mediums, including NFL games, but the league itself has been tepid in its adoption. The league’s affiliates (besides ESPN) have welcomed the newfound revenue stream with open arms. Adding another strong competitor in the sports advertising space.
The other major sports promotions have largely embraced crypto. Crypto.com holds the UFC’s kit branding rights; FTX logos are smack dab on MLB umpires chests, a regular appearance since the July 13 All-Star Game. Meanwhile, in the NBA, both the 76ers (Crypto.com) and Trailblazers (StormX) have jersey patch deals with cryptocurrency-affiliated companies.
ESPN and the NFL are kings of their castles, whether it be the league’s popularity or ESPN’s influence over the sports world. Yet, they are being left behind quickly in the crypto-space. We’ll see if they start catching up anytime soon.