The Lakers and Clippers will not be playing in the Staples Center by the time the calendar turns to 2022. The company is giving up the lifetime naming rights deal it had with the Los Angeles arena. Crypto.com will take over as the name sponsor.
Dan Patrick welcomed Darren Rovell to his radio show on Wednesday to discuss the value of the deal. Monetarily, the price tag is $700 million. That will get Crypto.com the naming rights to the arena for twenty years.
Patrick wanted to know how the company could ensure it got its money’s worth. He admitted that when he was at ESPN, he would make a point to stand in the way of that.
“I know when I did SportsCenter, I purposely did not mention a stadium that had naming rights,” he said. “I just said ‘let’s go to Baltimore,’ ‘let’s go to Chicago,’ wherever it might be.”
Would such a practice fly now at ESPN where several segments of SportsCenter carry their own corporate sponsorships?
Rovell answered Dan Patrick by saying value is somewhat relative. Crypto.com may have ideas beyond ESPN anchors saying the company’s name during broadcasts to get the most out of its $700 million investment.
“You know what? I think it’s always up to the individual company to make the value work, right?” he said. “Like, so are they going to have like ATMs where you put in your dollars and then you get a receipt that you’ve turned it into Bitcoin? Are they going to incorporate points into what the Etherium and Bitcoin price is?”
Dan Patrick had an idea for a different sponsor that he wanted to see get the naming rights. He thought the ideal sponsor for the arena would have been TNT broadcaster and Lakers legend Shaquille O’Neal, who has become a real advertising force since leaving his playing days behind.
“I thought Shaq should have gotten involved and called it ‘The Shaq.’ People would have had fun with that,” the recent inductee into the Radio Hall of Fame joked.
16.9% of All Sports Radio Listeners Are Streaming
The news comes as Nielsen reported that 11.3% of all radio listenership comes thru a stream, up from 6.9% in May of 2020.
According to Nielsen, sports radio stations are the third-most streamed spoken word format, just behind Talk/Personality and News/Talk/Info. The trend is continuing to show that streaming is on the uptick.
The survey found that in May 2022, 16.9% of sports talk radio’s audience tunes in via the station’s online stream. That news comes as Nielson reported that 11.3% of all radio listenership comes thru a stream, up from 6.9% in May of 2020.
Nielsen notes that in the 45 PPM markets they are grabbing data from and the 4,800+ stations that stream in those markets, just 30% of them are encoded. That encoding allows for Nielsen to accurately measure the streams. They used the listener data from 1,500 stations across the U.S., in their latest report, AM/FM Radio Streaming Growth in PPM Markets.
The survey also showed that streaming levels differ widely by radio format. Spoken word formats display strong streaming listenership (Talk/Personality: 31.2%, News/Talk/Info: 19.1%, All Sports: 16.9%). In fact, Nielsen found that 1/3 of all AM/FM streaming in PPM markets is to spoken word formats.
New Study Finds Listeners to MLB on Radio Are Willing to Spend
More than one third (34%) of the respondents recently purchased clothing/apparel that features their favorite team… 27% have visited a ballpark in the past year. That compares to only 19% of the average MLB fan base has made an apparel purchase to support their team while just 11% have gone to a game in person in that same time span.
When it comes to advertiser’s attempting to reach an affluent and engaged audience, sports talk radio might have a whale on their hands. Major League Baseball play-by-play features an audience that has money and has no problems spending it.
In a recent MRI-Simmons study, data shows that consumers who listen to MLB broadcasts on the radio are the perfect audience for sports marketers. According to the analysis, done by Katz Radio Group, nearly two thirds (62%) of those surveyed consider themselves “super fans” of baseball. That number is 58% higher than the average.
Those “super fans” are willing to spend to support their team, as well. More than one third (34%) of the respondents recently purchased clothing/apparel that features their favorite team. Those fans are also far more willing to make the trip to see their team. The study found that 27% have visited a ballpark in the past year. That compares to only 19% of the average MLB fan base has made an apparel purchase to support their team while just 11% have gone to a game in person in that same time span.
The news continues getting better for advertisers. Continued analysis reveals that 66% of listeners are currently employed and have a median household income greater than $106,000.
Listeners to MLB games on the radio are also 34% more likely to place a sports bet and 106% more likely to be a participant in fantasy baseball.
Jeff Dean Signs Off At ESPN Tucson for The Final Time
Dean said on Facebook: “…the years of burning the candle at both ends has taken a dire toll on my health and for the first time in my life, I’m going to put myself and my livelihood first”
Fans will no longer be able to tune into ESPN Tucson and hear Jeff Dean hosting his show. Friday morning was his last show, according to his Facebook and Twitter pages.
The Jeff Dean Show had been airing from 7-9a MT weekday mornings. Dean took to social media to relay the news and the reason behind him stepping away from the microphone. Dean said on Facebook:
“This morning I signed off from my radio show on ESPN Tucson for the final time. I have been devoting too much of my life and my time to working multiple jobs…the years of burning the candle at both ends has taken a dire toll on my health and for the first time in my life, I’m going to put myself and my livelihood first”
Dean went on to emphasize that he isn’t stepping away from ESPN Tucson, he’s just taking himself off the air. He also added that “gladly, I will be continuing my position as PA announcer of University of Arizona Football and Men’s basketball.”
Dean would also go onto Twitter to add even further context for his self-removal from the ESPN Tucson airwaves. He added, “It’s not a decision I arrived at hastily, as it’s been a 6 month mental grind to make the ultimate decision that had to be made, and I’m not particularly happy about it, but I have to put my health first, we all do, and make sure we’re around long enough to enjoy life”.
Dean had been ESPN Tucson’s morning host since November 2019.