Nike's $22 Million Man
With his dramatic victory at the Masters on Sunday, Tiger Woods was Nike's $22-million man on Sunday, with one group estimating that's how much extra value Nike got out of its sponsorship because of his win."The value represents that equivalent brand value that Nike ( NKE - Get Report) received from Tiger Woods' on camera exposure during the Final Round of the Masters on CBS," Apex Marketing Group's President, Eric Smallwood told TheStreet.
Here's what goes into Apex's calculation:
- Number of eyeballs (the Nielsen rating for the Masters was 7.7, which is the highest overnight rating for a morning golf telecast in 34 years)
- Duration that Nike's logo was visible on the screen
- Size of the logo(s) displayed
Smallwood didn't say whether Apex uses the viewership data in conjunction with an assumed sales conversion rate.
Which products are most primed for a nice sales pop as a result of the golf programming? "I think the hats will sell," Smallwood said. "The hat and the shirt are the most marketable from Nike's perspective." Woods wore a Nike hat and his signature Sunday red Nike shirt.
The boost to Nike from Woods' win was extremely high for a golfer. By comparison, Nike derived $12 million from 2018's Master's, in which Patrick Reed won, according to Apex. And even that $12 million is high compared to other events such as the U.S Open, during which Nike's brand valued picked up $3.9 million.
Bank earnings can show investors a lot about where we are in the economic cycle. So when JPMorgan (JPM - Get Report) announced a solid earnings print last week, many were hopeful that Citigroup (C - Get Report) , RealMoney's stock of the day, would follow suit.
But the earnings were mixed, as earnings per share came in at $1.87, better than analysts estimate of $1.80. However, revenue missed estimates due to weak stock trading revenue, with equities trading revenue coming in at $842 million, below expectations of $930 million. Citigroup shares traded flat on the day, down a hair to $67.38.