NHL Loses Brand Value after Lockout
Despite the hockey season being back up and running, the sport was severely damaged by the NHL lockout.
For instance, one fan, Edward Wright, has nearly abandoned the game he used to be obsessed about. Wright wanted to send a message to the league so packed up his Edmonton Oilers merchandise and sent it to an NHL blog.
Wright said that his “reaction was borne from disappointment. I was pretty vocal amongst my peers about the fact that I was part of the problem. I was contributing to it by going out of my way to spend more on the NHL than was really necessary.”
Wright is just one of many fans who feel this way and have cut back on hockey since the lockout. Consultancy firm Brand Finance said that the NHL will lose around US$328.2 million in brand value this year as players spend their money elsewhere.
The overall NHL brand value is expected to be $1.56 billion; by contrast the NFL has a brand value of US$9.13 billion.
According to Brand Finance managing director Edgar Baum, fans are going elsewhere for entertainment and fans don’t have enough incentives to return to the game.