Question of the Day: By how much has Taylor Swift impacted the brand value of the Kansas City Chiefs and the NFL?
Anyone with Bad Blood is going to have to Shake It Off...there's no denying the Love Story between the NFL and Taylor Swift.
Answer: The brand value of the Chiefs and NFL increased around $331 million
- In what ways do you think Taylor Swift's appearances at NFL games contributed to the $331 million increase in brand value?
- What are some direct and indirect economic impacts that an increase in brand value can have on a sports team and its surrounding community?
- If you were a marketing executive for the NFL, how would you leverage this increase in brand value for long-term benefits?
- Discuss the ethical considerations in using personal relationships and celebrity status in marketing and brand value enhancement.
Behind the numbers (Yahoo!):
"According to Apex Marketing Group data, Swift has produced a $331.5 million "brand value" for the Kansas City Chiefs and the NFL since she started dating Travis Kelce. The data was calculated based on the "reach and impact" of Swift's NFL appearances from Sept. 24 through Jan. 22, 'New York Post' reports. According to Apex President Eric Smallwood, digital content, online news and social media created the most value. For instance, when Swift and Kelce were photographed on a date in October, $166 million was generated."
Want to learn more about the rationale behind our financial decision making? Check out NGPF's Behavioral Economics unit.