TikTok and the New York Yankees Entered into a 3-Year Sponsorship Deal
Daniel Johnson — August 13, 2020 — Tech
References: newsroom.tiktok & marketingdive
TikTok entered into a 3-year sponsorship deal with the New York Yankees, as well as the YES Network. The 3-year sponsorship deal dictates that the YES Network will work to increase its presence among baseball fans, and the New York Yankees will also get team content displayed on the social media platform. TikTok will also pay a sum of $10 million over three years to the baseball organization and will receive promotions and single at Yankee Stadium.
For TikTok, the deal will allow the platform to increase its reach and pique the interest of baseball fans. For the New York Yankees, the deal will provide the organization with promotions on one of the major social media platforms.
Image Credit: Shutterstock
For TikTok, the deal will allow the platform to increase its reach and pique the interest of baseball fans. For the New York Yankees, the deal will provide the organization with promotions on one of the major social media platforms.
Image Credit: Shutterstock
Trend Themes
1. Sports Sponsorship Deals - The partnership between TikTok and the New York Yankees highlights the growing trend of sports teams forming sponsorship deals with social media platforms.
2. Social Media Marketing for Sports - The collaboration between TikTok and the YES Network showcases the increasing importance of social media platforms in sports marketing strategies.
3. Monetization of Social Media Platforms - TikTok's payment of $10 million to the New York Yankees demonstrates the trend of social media platforms monetizing their services through sponsorship agreements.
Industry Implications
1. Sports - The sports industry can capitalize on the opportunity to form lucrative partnerships with social media platforms for enhanced brand visibility and fan engagement.
2. Media and Entertainment - The media and entertainment industry can leverage social media platforms like TikTok to expand their reach and appeal to younger audiences.
3. Digital Advertising - The digital advertising industry can benefit from the trend of social media platforms offering sponsored promotional opportunities, such as TikTok's collaboration with the New York Yankees.
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