The New York Yankees & TikTok Sign Sponsorship Deal Amid Trump’s Ban
The New York Yankees and the YES Network inked a sponsorship deal with the Chinese short-form video platform TikTok. While President Trump is attempting to ban the social media platform stating it is a threat to national security, the deal will move forward into September until any formal decision is rendered. If TikTok U.S. operations are sold (Mircosoft is reported to be in talks about buying the company’s U.S. operations) or if a court successfully challenges Trump’s executive order, the deal is reported to run another two years.
According to Sportico, the deal which has been in the works for six months is reported to be worth US$10 million. However, no one from the Yankees could be reached for comment. As part of the deal, TikTok will receive branded signage inside Yankee stadium, which is currently hosting MLB games sans any fans.
The Yankees will get team-branded content on the TikTok platforms. The hope is that working with the video-sharing social network service will help the team tap into a younger MLB fanbase. According to a survey by Street and Smith’s Sports Business Journal, the average age of an MLB broadcast viewer is 57-years-old. Therefore, MLB must find new and innovative ways to reach the younger generation of fans. Otherwise the MLB fanbase will continue to dwindle.
After TikTok’s worldwide release in 2018, the platform quickly surpassed Facebook in its popularity among 13 to 16-year-olds. And through the pandemic, the digital safety app maker Qustodio reported children from ages 4 to 15 spent 80 minutes on TikTok per day. A number which is only 5 minutes shy of the kids time spent on YouTube.
Additionally, coronavirus accelerated the app setting a record 315 million downloads across Apple and Android devices in the first quarter alone, and total installs skyrocketed past 315 million.
Therefore, MLB’s strategic partnership with the app is vital to enticing a younger generation to become interested and active fans of the sport.
According to Forbes, the Yankees hold a record 27 World Series and are worth $5 billion second only to the Dallas Cowboys at $5.5 billion.
