Sports takes a hit - a podcast by WHRO Public Media

I’m Jeff Tanner, Dean of the Strome College of Business, and this is a Strome Business Minute. Baseball is trying to hold a sixty game season, much shorter than normal, while hockey is moving to Canada for its remaining playoffs. What has the fallout been for sponsors? While many sponsors are trying to renegotiate their deals with teams in light of shortened or cancelled seasons, sports sponsorship researcher and consultant Kirk Wakefield notes that fans are fans three hundred and sixty five days a year, not just for sixty or twenty four games. They visit team websites, they listen to podcasts, and most importantly, they buy the team’s sponsors’ stuff. In fact, his research has documented that while the cost of many sponsorships seems astronomical, the returns can be so high as to be unbelievable. And so far, even in the pandemic, sponsors for consumer goods continue to benefit. This has been a Strome Business Minute, presented by the Strome College of Business, at Old Dominion University.

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