Dollar sales of James' jersey on Fanatics set a single-day record for an NBA player joining a new team
The "purple-and-gold marketing frenzy" surrounding LeBron James signing with the Lakers has "already has taken off," according to James Peltz of the L.A. TIMES. Only hours after the announcement, fans were "buying replicas" of his "new No. 23 jersey at record pace." The lowest price of a Lakers' season ticket for Staples Center games "jumped to $5,750 from $3,499 on StubHub.com, while the high end reached nearly $100,000." Even though it is "not yet known which team the Lakers will face or what date they will play their home opener his fall," the "lowest-priced StubHub ticket for the game stood at $545 for a seat in the upper corners." Meanwhile, Fanatics was ready for James' announcement, and the NBA's online store "went live" with his replica Lakers jersey at 8:45pm ET Sunday. Fanatics co-President of Direct-to-Consumer Business Jack Boyle said that from that point through midnight Sunday, "dollar sales of the jerseys set the single-day record for an NBA player joining a new team as a free agent or by a trade." He added that Sunday's sales were "600% higher than sales of James' Cavaliers jersey four years ago" when he signed with the team for the second time (L.A. TIMES, 7/3). USA TODAY's A.J. Perez notes the signing "won't become official until July 6 when the new league year begins, so that means no James Lakers merchandise until then" (USA TODAY, 7/3).
WISH GRANTED: RECODE's Jason Del Rey noted the jersey patch deal that S.F.-based e-commerce company Wish has with the Lakers will "likely be a lot more valuable" with James now on the roster. According to sponsorship valuation firm GumGum Sports, with James on the Cavaliers last year, Goodyear "received the most value of all NBA jersey sponsors" -- an estimated $21M in terms of "earned media impressions on social media platforms." The Lakers and Wish "came in fourth," even though the team was "never in contention to reach the playoffs." With James now on the Lakers, it is "safe to assume that the value of Wish’s sponsorship will skyrocket to the top of the league -- and perhaps even blow away the Cavs’ total from last year." The "one remaining question: Do enough people know what the name Wish represents on Lakers jerseys for it to build huge brand awareness for the fast-growing e-commerce app?" (RECODE.net, 7/2). BLOOMBERG NEWS' Novy-Williams, Boudway & Soshnick wrote James joining the Lakers is "great news for corporate partners" like Wish. The company "reportedly agreed" to pay $12-14M for the sponsorship. Apex Marketing Group estimates with James in L.A., Wish may get as much as $35M "a year in exposure" (BLOOMBERG NEWS, 7/2).
MAIN ATTRACTION: In San Diego, Bryce Miller notes tickets for the Lakers’ first exhibition game of the '18-19 season, "scheduled for Sept. 30 at Valley View Casino Center, went on sale six weeks ago." As of Sunday afternoon, about "3,700 tickets remained." The total now is "zero." Valley View Casino Center GM Ernie Hahn said that the last tickets were "sold early Monday morning" (SAN DIEGO UNION-TRIBUNE, 7/3).
