SoFi Talks Benefits Of Naming-Rights Deals Amid Inglewood Report
Private lending company SoFi still "won’t confirm" whether its name will adorn the new Rams and Chargers stadium in Inglewood, but it is "beginning to explain why an unusual deal like this would make sense," according to Theodore Schleifer of RECODE. SoFi CEO Anthony Noto said that the company "might want to get into naming because it would be a smart way to market SoFi to the millennial customers it is trying to attract and retain." He added, "They’re not showing up for appointment television. They’re not showing up for dramas and sitcoms. They’re not even on TVs. Sports, live sports, live entertainment [are] things they watch. Live sports, live entertainment, is still the best place to find a large, unduplicated audience." Schleifer noted it is "rare for an unprofitable startup to pay so much money for naming rights of a professional stadium." However, Noto said, "Any property that can build awareness for us with a large, unduplicated audience is something that we’re going to consider" (VOX.com, 6/11).