August 22, 2023
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We’re still a few weeks away from pro football’s regular season but Amazon is already benefiting from an NFL ad boost entering its second season exclusively streaming “Thursday Night Football” — so much so that it has its sights set on more live sports.
I was in the room today for Jay Monahan’s annual “State of the PGA Tour” press conference in Atlanta, and the commissioner is bullish on completing a definitive agreement with Saudi Arabia’s Public Investment Fund. But not everything looks so rosy: In financial news, one sports retail giant filed its worst earnings report in years.
— David Rumsey [[link removed]]
Amazon’s NFL Success Could Lead To Pursuing More Live Sports [[link removed]]
Amazon
Now in the second season of an 11-year, $11 billion deal with the NFL, Amazon is setting its sights on more live sports.
The tech giant’s confidence stems from brisk ad sales for its exclusive streaming of “Thursday Night Football.”
“We’re above our expectations at this point in the ad cycle,” Amazon global head of sports Jay Marine said recently on a “TNF” preview call.
Marine also pointed to a noticeable shift of advertising funds toward live sports, particularly the NFL: “We’re acquiring more than our fair share of this increased ad revenue. We’re charting a successful course.”
Amazon is gearing up to stream the Miami Dolphins-New York Jets game live for free on Black Friday — when it could test interactive shopping and marketing. “We’ll have some interesting things for Black Friday where we think it will be additive for fans,” Marine said [[link removed]] of the busiest shopping day of the year.
Rights for the additional game — which is not part of the ‘TNF’ package — reportedly [[link removed]] cost Amazon between $50 million and $70 million.
Amazon’s 16-game regular-season schedule kicks off in Week 2, when the Philadelphia Eagles host the Minnesota Vikings on Sept. 14. It is also streaming Thursday night’s preseason game between the Indianapolis Colts and the Eagles.
Is The NBA Next Up?
Amazon’s aspirations extend beyond football: With the emergence of different live sports packages, including the coveted rights to broadcast NBA games, the company is positioning itself as a major contender.
The league is seeking between $50 billion and $75 billion for its next multiyear package, sources told [[link removed]] Front Office Sports.
“We’ll be aggressive, but we’ll also be rational,” Marine said of any future sports deals. “And so we’ll just have to see how that evolves over time.”
PGA Tour ‘Certain’ About Reaching Saudi PIF Agreement By Year-End [[link removed]]
John David Mercer-USA TODAY Sports
ATLANTA — PGA Tour commissioner Jay Monahan reiterated his confidence in ultimately reaching a definitive agreement with Saudi Arabia’s Public Investment Fund, with a Dec. 31 deadline almost four months away.
Speaking during his annual “state of the tour” press conference on Tuesday from the Tour Championship at East Lake Golf Club, Monahan said he was “certain” an agreement would be reached, resulting in a “positive outcome” for the Tour and its fans.
While he wouldn’t specify how far along negotiations are, Monahan said there are “frequent talks” and the process is “right where I would expect” it to be. “There’s an intensity and there’s an urgency, and there’s a lot of good work that’s being done,” he said.
Part of negotiations concern how and when LIV Golf players would be allowed back on the PGA Tour. When asked by Front Office Sports about whether that could be in 2024, Monahan said, “These are the kind of topics and discussions that we’re having right now with PIF. So, to be able to project what’s going to happen, I don’t have any answer today.”
If there’s another [[link removed]] Senate hearing examining the PIF deal, Monahan is willing to testify. He had agreed when first asked, but his dates didn’t work, which is why he didn’t take the stand at July’s hearing [[link removed]].
“The PGA Tour will continue to comply with the requests that come our way, and if there’s a request for me to be there, then I will be there,” Monahan said.
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A Day on the Water With J.K. Dobbins
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As one of football’s best young running backs, J.K. Dobbins is mostly known for his work on the field. But like many professional athletes – J.K has his own passions off the field.
In our new series, My Other Passion, presented by Chevrolet, we hit the outdoors [[link removed]] with some of the most recognizable athletes in sports to explore their interests outside the arena.
Learn how J.K. Dobbins grew up fishing in Texas, how it helps him practice patience on and off the field, the importance of family, his thoughts on the upcoming season and more.
Watch episode one [[link removed]] now.
Dick’s Reports Worst Post-Pandemic Earnings, Blames Shoplifting [[link removed]]
Syndication: Press and Sun-Bulletin
Dick’s Sporting Goods missed Wall Street’s earnings expectations for the first time in three years, dropping its stock nearly 25% to around $111 as of Tuesday afternoon.
The company reported [[link removed]] $2.82 per share in adjusted profit for its second fiscal quarter, compared with expectations of $3.81 per share. Sales rose 3.6% to $3.224 billion — slightly below the $3.238 billion expected.
Shoplifting and employee theft were blamed in part for the poor results.
“Organized retail crime and theft in general is an increasingly serious issue impacting many retailers,” Dick’s CEO Lauren Hobart said on the company’s earnings call. Dick’s chief financial officer Navdeep Gupta added that organized retail crime was “significantly higher” than the company anticipated.
Looking toward end-of-year, Dick’s reduced its expectations for adjusted profits to between $11.50 and $12.30 per share.
Despite the unfavorable financial results, Dick’s stock is still up [[link removed]] around 600% from the end of March 2022, as the company has largely been able to capitalize on increased interest in athletic gear, at-home workout equipment, and other sporting activities like golf, tennis, and pickleball.
Corporate Layoffs
Dick’s reportedly let go of 250 employees this week, according [[link removed]] to Bloomberg. As of January, it had employed nearly 53,000 full- and part-time workers.
Conversation Starters Oregon QB Bo Nix got another new billboard [[link removed]] as part of his Heisman campaign — this time in Dallas. MLB’s new Gameday 3D feature tracked the Angels’ ninth-inning triple play in real time. Check it out [[link removed]]. All four episodes of “Swamp Kings” — Netflix’s docuseries on Florida football’s 2006-2009 era — are now streaming [[link removed]].
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For sports organizations and broadcasters, understanding how, what, and where fans are consuming sports media is essential to effectively engage and adapt to constantly changing viewership preferences. As an increasing number of viewers consume media in short, snackable portions, game highlights have emerged as a preferred viewing choice, particularly among younger generations.
Delivering relevant short-form content on-demand is the key to connecting with the sports fan community. But how can stakeholders be “everywhere at once” and bridge the digital divide in sports fandom? By harnessing the power and speed of AI-powered technologies [[link removed]] to create highlights in real time, to be consumed by fans immediately.
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Editor's Picks Garrett, Scheffler Lead Texas-Sized Pickleball Investment Group [[link removed]]by Doug Greenberg [[link removed]]MLP teams are now individually seeing valuations of $10 million. Memphis Football’s Promotion Gives Free Tickets for Home Wins [[link removed]]by Andrew Cohen [[link removed]]The $60 ticket offer ends once Memphis loses at home. Will Fans Shop During Broadcasts? Amazon is Betting On It [[link removed]]by Michael McCarthy [[link removed]]On Black Friday, Amazon could make a foray into interactive shopping. Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Video [[link removed]] Podcast [[link removed]] Sports Careers [[link removed]] Written by David Rumsey [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]
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