How crypto companies shot up the NBA’s revenue to 1.6 billion

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Sponsorships from companies that operate in the field of cryptocurrencies led to growth – record revenues of the top basketball league in America.

Specifically, NBA revenues reached $1.6 billion in the 2021-2022 season, according to information from CNBC.

The amount of money in question, in fact, is increased by 13% compared to the revenues for the 2020-21 season which are estimated at $1.4 billion. Similarly, in the 2018-19 season, the national basketball federation in the United States raised $1.2 billion from sponsorships.

Partnerships with companies from the crypto market are characterized as the second most lucrative sponsorship category for the NBA. In first place are sponsorships from technology companies. It will be recalled that the Los Angeles Lakers signed a contract with the Los Angeles Lakers a few months ago. a $700 million deal over the next 20 years, with crypto.com to rename their stadium.

Among the four major sports leagues in America, the NBA ranks third in sponsorship revenue. The NFL is in first place. with nearly $2 billion from sponsorship deals for the 2021 season, according to IEG. Meanwhile, MLB (Major League Baseball) managed to raise 1.7 billion dollars in sponsorships last season, and finally, the NHL secured $676 million in sponsorships for the 2020-21 season.

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