Horizon Media Study Says When it Comes to Sports Betting Sponsorships, Not All Brands Benefit Equally
NEW YORK, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Horizon Media, the largest independent media agency in the world, announced today that it has developed a proprietary brand impact score to determine the potential positive and negative audience perceptions for marketers who are considering sponsorship opportunities in and around the world of sports betting.
With the rise of fantasy sports, online betting and the increasing relaxation of state regulated sports betting, the marketing and sponsorship opportunities around the sports betting industry have increased significantly. Indeed, 60% of total sports viewers think sports betting represents a new and innovative form of sponsorship. As brands try to navigate their sponsorship opportunities, Horizon’s study highlights that not all industries and brands will benefit equally from sponsorship of sports betting properties.
Horizon’s brand impact score incorporates a brand’s audience perception, brand fit and growth potential and the data analyzed 10 industry categories and 29 major brands that are major sports league sponsors. The findings demonstrate that brands which have clear and direct ties to the game would benefit most from sponsorship, with beer and athletic brands scoring highest at 136 and 118 index scores, respectively. In contrast, for some categories that rely on a higher level of trust between brand and consumer, the connection can potentially damage brand perception by eroding brand trust and respect which are crucial to ongoing loyalty. This is the case with the automotive insurance category where, with a brand index score of 27%, these brands should be more cautious.
The sports bettor audience is highly engaged, passionate and represents an important consumer target for many brands, but sports bettors are not a homogenous group. Adding to the complexity, 58% of people are not aware if sports betting is legal in their state, further impacting the potential audience perceptions of any sponsorship. To navigate this, Horizon’s study enables brands to develop a clear understanding of the various motivations and attitudes of the different segments.
As brands seek to understand if and how they should enter the dynamic and complicated sponsorship space for sports betting, they should ask three crucial questions: 1) Is sports betting right for my brand? 2) Who is my target audience within sports betting? 3) How should I engage with relevant audiences? Horizon’s brand impact score helps marketers to better understand the sponsorship opportunity, carefully examine the potential positive and negative implications and make more informed investment decisions.
With clients such as GEICO, Burger King, Corona and Capital One, Horizon Media manages one of the largest portfolios of sports marketing investments in the industry. The new data give Horizon greater insight into audience motivations and brand perceptions of sports betting sponsorships and enhances its ability to drive improved business outcomes as a trusted and valued business for its clients.
About Horizon Media Horizon Media, Inc. is the largest independent media agency in the world. The company was founded in 1989, is headquartered in New York, and has offices in Los Angeles and Toronto. With estimated billings of $8.7 billion and over 2,300 employees, Horizon is the second largest U.S. media agency according to COMvergence data.
Recognized as one of the world’s ten most innovative marketing and advertising companies by Fast Company, Horizon Media has been named Media Agency of the Year by MediaPost, Adweek and AdAge and is known for its highly personal approach to client service. Renowned for its culture, Horizon is also consistently named to all the prestigious annual Best Places to Work lists published by Fortune, Forbes, AdAge, Crain’s New York Business and Los Angeles Business Journal; including “Best Workplaces for Diversity,” “Best Workplaces for Women,” and “Best Workplaces for Millennials” honors.
Earning the industry’s highest honor, Bill Koenigsberg, President, CEO and Founder of Horizon Media, was inducted into the American Advertising Federation (AAF) Hall of Fame in 2019.
For further information please contactHorizon Media Stephen Hall(212) 220-1744 email@example.com
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