Orlando residents will have heard that the sports center will be named the Amway Arena. At a cost of a mere $375,000. The arena is home to the Orlando Magic and Orlando Predators, sporting and entertainment events.
So what's in a name?
The name can generate millions from rental space revenues to space for ads within the building and drops straight to the bottom line. It has been done for ages look at Times Square or the Wrigley Field. It appears that stadium naming rights has grown to be a 4 Billion dollar market alone.
The cost depends on several factors. Exposure to road ways, building size, city sign ordinances and just how well the building stands out. It is now even part of the negotiating that if naming rights are not included a deal not happen. What else makes the dollars the antennae on top the buildings have to lease space, back of ticket advertising, parking lot ads sold to display in parking garage walls.
The list continues but the right name on the building can generate huge dollar returns.
Comments(2)