Late on Thursday, the National Football League revealed a new relationship with Apple that includes the 12-minute show’s rights, one of the largest yearly music occasions. Approximately $50 million will be paid by the tech giant (Nasdaq: AAPL) over a five-year period, according to a person familiar with the conditions who was given anonymity because the information is confidential.
For the Super Bowl Halftime Show, Apple Will Pay Close to $50 Million Per Year
Apple is replacing Pepsi, which gave up on extending its halftime sponsorship agreement after ten years. The announcement comes as Apple remains one of the NFL’s top suitors for its Sunday Ticket broadcast program.
An NFL official declined to comment on the conditions. An email submitted to Apple seeking comment after business hours didn’t receive a prompt response.
According to Nana-Yaw Asamoah, senior vice president of partner strategy for the NFL, “We couldn’t think of a more appropriate partner for the world’s most-watched musical performance than Apple Music, a service that entertains, inspires, and motivates millions of people worldwide through the intersection of music and technology.”
The approximate $50 million yearly fee is consistent with what the NFL reportedly sought while hawking the rights. What Pepsi paid for the rights over the course of ten years is unknown (the company remains a league partner outside of the halftime show). After Janet Jackson and Justin Timberlake’s disastrous performance in 2005, Ameriquest Mortgage Co. paid $15 million to sponsor the halftime show. Before Pepsi, Bridgestone paid about $10 million annually.
The first game under Apple’s rights will be the Super Bowl in Arizona on February 12. The halftime show has not yet been confirmed. The Weeknd, Beyonce, Lady Gaga, Dr. Dre, and Eminem have all recently performed.
The entertainment gains from the attention generated by the game as well as a curiosity from non-football fans, according to one marketing expert, who has dubbed it a “spectacle within of another spectacle.” According to the NFL, more than 120 million people watched the performance earlier this year.
More than 30 league-wide sponsors were present as the 2022 season began, including Pepsi (Nasdaq: PEP), Intel (Nasdaq: INTC), Anheuser-Busch (NYSE: BUD), Lowe’s (NYSE: LOW), and Microsoft (Nasdaq: MSFT).
The NFL is currently the richest sports league in the world, and it is expanding. For the first time ever, the league’s national revenue from broadcasting, sponsorships, and other revenues exceeded $11 billion last season. And that’s before the NFL’s new $105 billion in television arrangements begin to take effect in the upcoming season.
Each team received a check for $345 million as its share of the national income. When the new media deals begin, it is anticipated that this share will exceed $400 million.
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