NBA: the profitable business of madness Jeremy Lin - February 18, 2012
Jeremy Lin and the American fairy tale. It only took seven games to the playmaker of the team's basketball for the Knicks panic counters and generate a media frenzy rarely seen in America. The defeat of his team that night, for the first time since its revelation to the public, does not diminish the power of the phenomenon Lin, who finished top scorer of the match. A true media darling, the "Lin mania" is now an economic nature.
According to Patrick Rishe, a journalist specializing in sports economics at Forbes, Jeremy Lin should earn this year between 10 and 20 million dollars in revenue for his team. Based on his calculations, he believes that the brand Jeremy Lin is now worth $ 14 million. Already, sales of products Knicks exceed those of all other teams in the championship. Better yet, the shirt of Jeremy Lin is currently the best selling of the entire league by site nbastore.com, ahead of Kobe Bryant and Lebron James, however, the two superstars of American basketball.
Since its emergence in the field, television audiences matches the Knicks were up 66%, according to ABC News and the price of tickets at Madison Square Garden, where the team plays, increased by 27%. A phenomenon that extends to the whole country, all brought to theaters soon receive the full display of the Knicks team and seeing the price of tickets on the black market soar.
Nike bounces on the phenomenon
Lin's exploits have even an impact on stock markets. The share price of the group Madison Square Garden Entertainment, which owns the Knicks, has increased by 6.2% over the last five days, reaching its highest of the year, according to Bloomberg. Performance directly attributed to Lin, the group has announced losses in the same week.
It did not so much to interest sponsors. Decisive with his team, he also shines personality, humble and smiling and personal history. Out of nowhere, rejected by the leading clubs, he finally won through hard work, courage and tenacity. All values that symbolize the American dream and please brands. Do well because already under contract with Jeremy Lin before hatching, Nike also is preparing to release a shoe in the name of the player and the colors of the Knicks. Jeremy Lin signed his first professional contract this week, amounting to 762,000 dollars for the season. It's a safe bet that it would reach many more especially if he continues to earn as much.
Wind "Folin" Asia
First American player of Taiwanese to move in the American Championship of Basketball, Jeremy Lin has become at the same time the new headline the NBA for Asia, which represents the largest market outside the league, according to Reuters. Asian TV channels were also eager to buy the rights to broadcast matches, the Chinese state channel CCTV has even changed its programs to broadcast several games of the Knicks this week.
"This is an unprecedented phenomenon and I am delighted for him, for the league and the Knicks' David Stern said Tuesday, the powerful boss of the NBA. It is true that the media hype and commercial around that player's personal story atypical is a boon to the American basketball league whose image had been tarnished by a long and costly strike that has raised fears a moment the cancellation of the season. Some broadcasters and sponsors in mind, feared even a year on the cheap and tasteless. By Jeremy Lin, American sport has found a goose that lays golden eggs and intends to capitalize on it. Remains whether it will uphold and maintain this level of play
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