Daktronics Sees Revenue Spike As NFL Venues Push For Bigger, Better Videoboards
Daktronics has "become a global giant in sports entertainment," as company revenue grew by 6.5% last year, "largely because of demand from the NFL," according to Ken Belson of the N.Y. TIMES. To generate extra revenue, Daktronics and other manufacturers "have been developing software for teams to use on their displays." In addition to "creating tailor-made graphics, Daktronics hosts seminars for programmers who operate scoreboards" in MLB ballparks and NFL stadiums. Daktronics co-Founder & Chair Al Kurtenbach said, "We see the living room as our biggest competitor. Our job is to help the venue manager with fresh content. We can give fans a reason to stay." Belson noted nearly every NFL team "has some Daktronics equipment, and the company’s scoreboards are in many well-known venues, including Madison Square Garden and Citi Field." Meanwhile, the company's "closest competitor" in the roughly $800M market, Mitsubishi Electric, "has focused on marquee locations" such as Yankee Stadium and AT&T Stadium. Mitsubishi Electric National Sales Manager Todd Stih said, "We are focusing on the higher end of the market. Tiffany still has to sell the best" (N.Y. TIMES, 7/20).