Twenty years ago, when professional sporting teams started selling naming rights to their stadiums and arenas, many purists called it a low point in the commercialization of sports. But today, the number of arenas and ballparks not named after a corporate sponsor is small. For revenue-seeking team owners, it is just too hard to pass up the money that comes with selling your stadiums’ name. Strategy, business development and marketing all play huge factors in naming-rights deals, with top prices for these deals reaching about half a billion dollars, according to Sports Business Journal.
The world may be getting smaller, but cities are getting bigger. More than 80 percent of the country’s population lives in urban areas, according to U.S. Census Bureau data.
Fortunately, cities are getting smarter too. Using technology, data, and analytics, cities can implement “smart”...Read More