• How Stephen Curry has Impacted the Business of the Golden State Warriors

    For quite a while He was dubbed for quite a while as “the wonder kid”, and Stephen Curry has shown why the praises were given to him. In 2012 Curry agreed to a four-year, $44 million new rookie scale contract with the Warriors. The pundits called this ludicrous because they This was called ludicrous by pundits that did not think Curry was worth it at the time, especially as because just the season before he was blighted with injury. However, alongBut with the emergence of backcourt teammate Klay Thompson, a partnership was made, earning them the nickname “The Splash Brothers”. This resulted in  Curry scoring a career-high 54 points in a game against the New York Knicks, which broke the franchise record for three-pointers made in a game. He set the record at 11, falling just one three-pointers short of tying the NBA record. Yet, is this all “Steph” Curry brings to the table? Let’s take a look at the business side of things.

    Sponsorships

    With the careers of standout figures like Kobe Bryant and Lebron James winding down, there was room for a new breakout star was yearning. Luckily enough for the Warriors, that person was already in their ranks.  In 2014, when Curry’s fame rose grew significantly, the Warriors pockets did also too. with Ignite Farm, a Walnut Creek, and a California- based venture firm whose companies/ brands included the likes of  FacialNetwork, Yoatz yogurt and the Kinder’s Meats & BBQ chain, had signed a three-year deal was signed with the Warriors worth at least $1 million annually. In addition, the franchise had 17 new sponsorship partners knocking at their door which included giant companies Sony PlayStation and MGM Resorts. The Warriors also won renewals of contracts from sponsors already at their disposal such as The Clorox Co., Kaiser Permanente,  Stella Artois, Visa Incorporated, wearable fitness tracker Jawbone, JP Morgan Chase, SignalShare and Oracle Corporation.  Esurance Incorporated, for example, is the presenting sponsor for a social media night and Alaska Airlines’ new partnership with them largely revolves around social media campaigns, digital promotions and email blasts. Can you say cha-ching? The endorsements did not stop there, though.; Golden State attracted the likes of BMW , for one, who jumped in right after Oracle Arena operator Anschutz Entertainment Group, or AEG. The luxury automaker is now the “official luxury car” for the Warriors.

    Revenue (merchandising, tickets sales, and Winnings)

    Since the rise of Curry, the Golden State Warriors self- obtained revenue has rose tremendously. For example, in Curry’shis pivotal years from 2012 to present, the ticket sales have moved from $31 million to $55 million. It wasThis has been one of the most significant areas of growth for the Warriors. With Thanks to the team’s great performances, there were over 12,500 people on the team’s season ticket wait list for the 2014-2015 season. In 20145 and 2015,4 the team achieved one of its highest in tickets sales and suite revenue.  The die-hard and newly acquired fans of the Warriors’ for the season ticket wait list achieved over a 98-percent renewal rate for the following season. The Warriors’ success in season ticket renewals has given the team the ability to witness 125 consecutive games sold out, making it the highest sell out streak since Oracle Arena’s capacity was increased in 1998. In terms of revenue, which includes merchandising (the selling of replica team uniforms, apparel, and collectibles, etc), the Warriors revenue has risenrose significantly from $127 million in 2012 to $201 million in 2015. Moreover, oOperating iIncome for the franchise climbed to $57.6 million in 2016 from $22.2 million in 2012.

    Broadcast Deals (vViewership)
    The team scooped an extra $28 million dollars in Television rights from the local Television station CSN Bay Area. Seeing that Curry score a whooping 51 points in the game on Wednesday the coverage of the player will only increase.

    Image of the Team and Appeal

    Here is where the business of the Golden State Warriors got even sweeter. The Golden State Warriors’ marketability has risen immensely.  Seeing that Stephen Curry has attracted the likes of Unilever, Express, Under Armour, Degree, State Farm, Muscle Milk, and JBL in individual sponsorships, the team’s brand will beis synonymous with Curry’s.  For example, this resulted in the Warriors store has sold selling more than 1,000 number 30 jerseys without his name.  His jerseys usually run out in September, before the new NBA season begins.,  In 2015, theybut this year it sold out in March before the playoffs games. His jerseys haves become in such demand that calls have been received from as far as California. November 27th 2015 was the largest Black Friday sales day in NBAstore.com history. Seven out of the top 10 items sold were Warriors products. The Golden State Warriors wereas the top-selling team that day, and guess what?, Curry was the player in demand. Following Black Friday, on Cyber Monday, six out of the top 10 items sold from NBAstore.com were that of the standout star Curry with the Warriors again taking the title as the top-selling team.

    Even on social media, the team is a force to be reckoned with.  On Facebook, “likes” on the team’s official page haves risen from 700,000 to over 5 million likes within past two years, ranking eighth among NBA teams. They are now the number one1 “most talked about NBA teams” on Facebook, with approximately 1.4 million fans beating the hugely popular Lakers by more than 500,000 fans. Their stardom is now at an all time high with fans waiting outside the team’s hotels for memorabilia to be signed or just to take a photo with Stephen Curry.

    The Warriors’ senior vice president of business development Brandon Schneider was quoted in as saying, “I think it’s the perfect storm that encompasses different things. Obviously, we’re in a great market with an unbelievable fan base in the Bay Area. We’ve got a team that’s grown so rapidly over the years, culminating with a championship .The most popular items are Steph Curry items, jerseys or jersey T-shirts. You look at his play on the court combined with the way he is off the court and the kind of role model he is, that’s a big piece of it.”
    Stephen Curry’s influence has grown vastly, with AskMen.com recently rating the player as the most-influential man in the world beating Pope Francis (No. 3), LeBron James (No. 18) and President Obama (No. 19).  The Warriors have a gem on their hands and they know they would have to do everything in their power to hold on to him.

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