The NBA recently announced they will begin selling Jersey sponsorships for the 2017-2018 season in the form of jersey patches. In order to examine the reach and value of the sponsorships, the Los Angeles Lakers have chosen Hookit to analyze the effectiveness of companies owning space on the players’ jerseys.
Hookit will use their Hookit Valuation Methodology (HVM) to measure the reach and financial benefit of NBA jersey sponsors. The value is assessed through the HVM by analyzing overall the performance of sponsorships across physical, digital, and social media landscapes.
The HVM evaluation for the Lakers recognized a significant, verified earned-media value for the team, with the value showing to be both additive and incremental to the regular exposure for the team, such as print and television exposure.
Tim Harris, Lakers Senior Vice President of Business Operations and COO said, “The HVM technology provides the Lakers a platform to precisely track and understand social media value driven by analyzing digital engagement and utilizing image recognition to track logo placement in photos and videos shared. In combination with our traditional television viewership metrics, we now have a more comprehensive look at what kind of value we can generate for our partners.”
According to their website, “Hookit offers the most comprehensive and exacting data analytics platform for establishing and tracking the value of individuals/athletes, teams and events across the sports and entertainment industries. . . . Hookit’s blue-chip client roster includes Go Pro, Monster Energy, Cleveland Cavaliers, KaaBoo Music Festival, LPGA, LA Lakers, Canadian Olympic Team , IMG, United States Ski and Snowboard Association and The Dew Tour.”