Winstead PC attorneys Cathryn Berryman and David Staas were featured on an episode of the Sports Business Journal’s SBJ Presents Podcast titled, “Monetizing Sponsorship Data in Today’s Sports Landscape.” The podcast discusses current trends and issues impacting the business of sports.
This episode, sponsored by the firm, specifically focuses on the impact of COVID-19 on sponsorships, concessionaires, alternative digital inventory, and how to monetize data. Staas discussed the impact that COVID-19 has had on sports sponsorships specially, noting that even when fans return to stadiums, health and safety protocols will likely affect the fan experience and create a new normal that teams and venues will need to address with their sponsors.
“Sponsorship agreements were based on the number of fan eyeballs, and neither party entered into the sponsorship deal anticipating no fans in the stadium,” Staas said. “So what we’ve been seeing is the initial pause, assessment of facts, and evaluation of existing contractual rights, followed by negotiations over how the parties are going to address the new normal moving forward. Parties to sponsorship agreements will be looking for creative ways to do that.”
One of those ways is leveraging technology. Berryman examines the possibility of using disruptive technologies to efficiently process a significant amount of data from several touchpoints, including individual consumers and businesses, and how this data can be beneficial for sports teams and their sponsors.
“There are many readily available analytics platforms that allow you to capture data from your own website as well as other sources,” Berryman said. “Analytics and algorithms can help analyze specific business initiatives and service offerings to the public and sponsors. Predictive analyses improve the efficiency of business decisions. Teams are able to make more informed decisions about what they buy, who they approach for a sponsorship, how they set up a stadium, and in many instances, how they capture and maintain the fan base outside the venue environment in the digital world.”
Berryman is a shareholder in Winstead's Intellectual Property Practice Group. Her practice focuses on domestic and international intellectual property licensing and transactional work for computer software and systems integration; procurement and outsourcing; internet and electronic commerce and social media; privacy and security; and entertainment and multimedia.
Staas focuses on real estate development, leasing, financing, acquisition, and sale of mixed-use developments, shopping centers, office buildings, airports, convention centers, and sports and entertainment venues. He has significant focus on the convention and visitor industry, and has served as counsel to various venues, and sports teams.
Listen to the podcast.
Winstead is a national business law firm with more than 300 attorneys who serve as trusted advisors to emerging, mid-market and large companies, both public and private. The Winstead team provides a range of core legal services that are critical to our clients achieving their business goals. Winstead’s business transactions and litigation practices serve key industries including aviation, financial services, healthcare, investment management/private equity, life sciences, real estate and sports business.