Wins and Losses
Everyone in the major sports licensing sector — whether pro or collegiate — is trying to come up with new and creative ways to expand their business, whether it’s searching out an underdeveloped or unexplored merchandise category; gaining a new distribution channel; coming up with a new marketing hook; improving “hot market” performance; refreshing the product line, changing team colors or logo, or something else. All these things can play a major role in maximizing the opportunity.
But I’m often reminded that the thing that usually moves the needle the most is the simplest of all. As a sage once told me: “It’s all about wins and losses.”
As recounted by Anthony Schoettle in the Indianapolis Business Journal, in an article discussing the business side of Indiana University basketball, which in the past two years has returned to the on-court level of its glory days: “Through mid-February, IU merchandise sales were up 31 percent over the same period last season. Last year, IU saw a 15-percent revenue increase from the sale of its licensed goods.”
Everybody loves a winner.