On the latest "SBJ Unpacks: The Road Ahead," Roc Nation President of Business Operations & Strategy and co-CEO of Roc Nation Unified Brett Yormark joins our Terry Lefton to discuss the firm's NBA Draft successes, plus endorsement strategy and more.
On how the first digital NBA Draft came off Wednesday night:
Yormark: From a Roc Nation standpoint, it went extremely well. We had four picks in the top 25. We were hoping for five in the top 30, but we ended up with four in the top 25, so we were very, very pleased. Generally speaking, it was really, really well done, the Draft. You saw the emotion unfold on ESPN (Wednesday night) with all the different picks, and that’s what it should be like. We experienced that live, obviously, in Brooklyn, but I thought it certainly translated well last night even though it was just done on the broadcast and virtually. I thought a good night for the sport and also a good night for Roc Nation.
On how the pandemic will affect the endorsement earning power of the incoming NBA rookies:
Yormark: Influencer marketing, from our vantage point, has been very robust despite the pandemic. We’ve done a lot of deals, and the right deals, on the music side with our music talent, and we’ve had some success, obviously, on the athlete side. I did read some articles (on Wednesday) that the footwear category was a little light, and we very fortunate to marry LaMelo Ball, the No. 3 pick, with Puma in an unprecedented program. He will be the face of Puma. From my perspective, I remain bullish on influencer marketing, and I think brands today want to stay connected to their consumer base.
On what Roc Nation has learned during the pandemic and what lessons could carry over post-pandemic:
Yormark: We’ve learned a lot. You can do more with less; we can be better operators; we can be more efficient, and we can use technology more effectively. I get on panels often, and I speak to business leaders, and I think, collectively, we’ve learned so much, how to better deal with employees, what employees really need, what drives them. So, I’m very anxious to apply some of the key learnings that, as an industry, we’ve identified to this new norm, and I think, ultimately, we’ll be in a better place for it.
