You have talked about the need for sports franchises to be “value creators.” Can you give an example?Hmm--weren't we supposed to think that the arena was "recreational," according to state Supreme Court Justice Joan Madden, who in January 2008 dismissed a challenge to Atlantic Yards as a "civic project." Even some eminent domain supporters might disagree with Madden.
Business-to-business [relationships have become] a critical component in sports more than ever before. This offseason, we developed a chamber of commerce that includes season ticket holders, key stakeholders, vendors and sponsors from about 500 companies. Every month we have networking sessions, and my direct report team and I guarantee each member 10 qualified meetings. We don’t guarantee you the business with those other companies, but we facilitate those introductions. So, now, when people think of Nets basketball, it’s not just about fun, entertainment, or wins and losses - it’s about helping the Nets drive your business forward, helping you be part of this trading area where you can interface with other companies and use the Nets as that common thread. And it’s driving big-time results for us.
So, this really isn’t a basketball play. You’re really a marketing platform.
Absolutely. We’re in the entertainment business, and basketball is a part of it. When you think about the 200-plus events at the Barclays Center, only 41 are Nets basketball games. And if we make the playoffs, hopefully a little bit more. But it’s truly about entertainment and developing a marketing platform for these companies.
Thursday, March 18, 2010
A judge said the arena was recreational; Yormark says "it’s truly about entertainment and developing a marketing platform for these companies"
Nets Sports & Entertainment CEO Brett Yormark, in an interview with ChiefExecutive.net, breaks it down: