Latest Thinking from IEG
IEG’s sponsorship experts provide unique perspective on the latest industry developments, news and trends. These posts will make you think, challenge conventional wisdom, give you new ideas, and spark discussion.
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Formula 1: A Sponsorship Example Not To Be Followed
Much has been written and said about Bernie Ecclestone, the brilliant, mercurial puppet master who pulls the strings of the Formula 1 international racing circuit. While I am not expert enough in the details of F1’s business to join the polarized debate over whether he is the best or worst thing to happen to the sport—although I’m sure the answer as it always is in these cases is somewhere in the middle—I do believe he has made a major misstep in the sponsorship arena.
Filed under: international, motorsports, packaging, venues, assets
The Trend Of Craft And Its Relevance To Us
From furniture, food and jewelry to haute couture, lighting and architecture, craft—the art of the handmade—is everywhere.
Filed under: venues, trends
Twins-Pentair Partnership Shows Possibilities for Green Deals
Over the last year, the greening of sponsorship has continued to gain momentum, spawning new and compelling opportunities for properties to create platforms and for sponsors to activate.
Filed under: green, sports, venues, activation
Dirty Category Goes Green with Sponsorship
Earlier this week, Waste Management and Live Nation announced a multi-year agreement allowing Waste Management to become the ‘Official Waste Services and Recycling Sponsor’ of all Live Nation venues.
Although inherently unsexy and seemingly incredibly mundane (someone has to pick up the waste produced at concerts), this sponsorship offers far more than meets the eye.
Filed under: digital media, packaging, trends, venues, activation
H1N1’s Silver Lining: Hand Sanitizer Sponsorships
Sometimes the identification of emerging sponsorship categories comes straight out of the headlines. For example, we are seeing more activity from the makers of hand sanitizers in the wake of growing concerns over the spread of the H1N1 virus.
Last month’s Tour of Missouri bike race was sponsored by Germ-X, which also has been the official hand sanitizer of the MLB St. Louis Cardinals, the Cincinnati-area’s Newport Aquarium and Branson, Mo.’s Silver Dollar City.
Vancouver-based ALDA Pharmaceuticals Corp. is the official antiseptic hand sanitizer, disinfectant and disinfectant cleaning products supplier to the 2010 Olympic Winter Games, the Canadian Olympic Committee and the Games’ speed skating venue—the Richmond Olympic Oval.
Filed under: museums/zoos/aquariums, non-traditional categories, olympics, prospecting, selling, sports, theme parks, venues, associations
I Will Sponsor You Forever
Ah, the words every property yearns to hear. Or not.
I have been struggling with what to think about the announcement this week that Staples has renewed its naming rights deal for the Staples Center “in perpetuity.”
My first thought was that since we’re talking about a venue in Los Angeles, maybe both parties expect “The Big One” to come along sometime soon—so the concept of perpetuity isn’t quite the same as it would be in less quake-prone parts of the world.
I’m trying to understand the rationale behind a “forever sponsorship” and who it benefits the most. The frustrating thing, as always, is that it is impossible to truly analyze a deal without knowing its particulars. But that won’t stop me from trying.
Filed under: naming rights, negotiating, trends, venues, contracts
Naming Rights: More Bad than Good?
The local news in Chicago has brought another example of how the negatives associated with venue naming rights deals often outweigh the positives. The Daily Herald newspaper reports that the village of Hoffman Estates, Ill. is in talks to take over the struggling Sears Centre arena.
Other media outlets quickly jumped on the story, with many using the company’s association with a venue that is having trouble meeting its financial commitments as the latest example of how the once proud retail giant has fallen.
Filed under: venues, naming rights