🏟️ Sports Business Insights From The 2024 Olympics

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Happy Friday! This week’s edition of Sports Industry Weekly shares insights from the most significant business headlines in the sports industry like

🏅 All the Olympics business headlines you need to know straight from Paris.

🎧 Beats By Dre signs a global superstar as they continue their investment in soccer.

🏀 Three WNBA rookies dominate the league's top-selling jersey list this season.

🎙️ A highly sought-after football lifestyle podcast is negotiating a substantial $100 million deal.

PARIS 2024 OLYMPIC BUSINESS HIGHLIGHTS

The Olympics are in full swing, bringing with them a wealth of insights and business highlights across each sport like:

🦚 Olympic viewership has soared to a daily average of 34.5 million across NBC’s network, a 79% increase from the Tokyo Olympics.

🏅 For the first time in history, the Olympics has achieved gender parity, showcasing an equal 50-50 split of male and female athletes competing on the global stage.

🇺🇸 The Team USA House in Paris was opened to the public for the first time, showcasing branded experiences and Olympic apparel retail products from top sponsors like Nike, Ralph Lauren, Mitchell & Ness, and others.

🤳 TikTok is blowing up with organic content from top athletes, offering a behind-the-scenes look at their Olympic experiences. Simone Biles' videos have dominated For You pages, amassing over 100 million views across her Olympics content.

🥇 Athletes from over 33 countries will receive cash prizes for winning gold medals at the Olympics, with the United States offering $37,500 per gold medal, placing it on the lower end of the spectrum.

🤽‍♀️ With an opportunity to make a positive impact in women’s sports, Flavor Flav eagerly sponsored the U.S. Women's Water Polo team, providing crucial financial support to help with equipment and facilities costs.

🏉 The owner of the NWSL’s Washington Spirit, Michele Kang, is committing $1 million annually for the next four years to grow the U.S. Women's Rugby team and advance the sport nationwide.

👑 LeBron earned a new nickname, Captain LeMerica, with his incredible Olympic performance so far. He also unveiled his new Nike LeBron 22 sneakers and A’Ja Wilson has also been seen wearing the 22s while leading the USA Women’s Basketball team.

🎧 Apple-owned headphone brand Beats by Dre has added Inter Miami’s Lionel Messi to its athlete roster. The global soccer superstar will be featured in Beats' marketing campaigns, making Messi the brand’s first MLS player. Beats also announced a multi-year deal earlier this year with the league as its official audio partner, highlighting its strategy and investment in soccer.

📺 Bill Belichick has transitioned from coaching to football media personality. The 6-time Super Bowl-winning coach now appears weekly on The Pat McAfee Show, frequently on the Manningcast for Monday Night Football, serves as a studio analyst for The CW's Inside The NFL, and has announced a new YouTube show with Underdog Fantasy. The show will debut before the NFL season, offering fans insights into his game analysis.

🏀 Fanatics has announced the top-selling WNBA jerseys for the 2024 season, with rookies Caitlin Clark, Angel Reese, and Kate Martin dominating three of the top four spots. The league's merchandise sales have skyrocketed, boasting an impressive 500% increase from the previous year.

🏈 Odell Beckham Jr. and DK Metcalf take center stage in a new lululemon commercial, coinciding with the kickoff of NFL training camps. The elite wide receivers emphasize the importance of rest days and recovery in the campaign that will span across TV, podcasts, in-store displays, and social media. Notably, OBJ recently faced off in court against Nike in a contract dispute, but he has quickly transitioned to a new apparel brand partnership.

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🎙️ Travis and Jason Kelce are on the brink of securing a $100 million deal for their New Heights podcast, as reported by the Wall Street Journal. They've been negotiating with Amazon's podcast studio Wondery, and insiders are confident that their ambitious asking price will be met. This potential deal caps off a busy summer for the brothers, who recently announced their new cereal collaboration with General Mills.

💧 Mike Miller’s LIFT Sports Management has teamed up with X Hydration as their new agency of record to help break the premium Aloe Vera fitness water into new markets and boost their brand presence. The collaboration is expanding the beverage brand into basketball culture and the growing sport of pickleball.

👟 Puma Hoops has announced a partnership with renowned footwear designer Salehe Bembury. This non-exclusive agreement allows Bembury to continue his successful collaborations with other brands like New Balance and Crocs. With LaMelo Ball, Breanna Stewart, and Scoot Henderson already representing Puma as signature athletes, Bembury will play a pivotal role in identifying the brand's next signature athlete and creating their sneakers. We’re excited to see what Bembury cooks up!