Investment Themes

Basketball: Reach new heights with the NBA

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Investment Themes

The championship is broadcast in more than 200 countries around the world, driven by the growing number of international players who join the NBA every year. The business model of the National Basketball Association is complicated, yet simple. There are four main sources of income:

-sponsoring
-TV rights
-ticket sales
-merchandising (by-products, materials, equipment, etc.)

Investing in the American championship means investing in a panel of partner companies. For example, when basketball is exported, it is a whole brand that is exported, including through the sale of jerseys. Since 2007, these are accompanied by the logo of the company that acts as a sponsor. An estimated one billion people watch at least one game per season and revenues from abroad are increasing by 20% each year. China is a huge market, with more than 300 million players across the country and a community of "super fans".

In October 2014, the NBA announced the signing of a $24 billion contract extension ($2.7 billion per year for 9 years) with ESPN, ABC, Turner Sports (TNT), making these rights the highest in the world after the broadcasting rights of the NFL (National Football Association) and on an equal footing with the rights of the Premier League (English football league). On average, an NBA franchise is worth $1.9 billion (+13% from 2018 to 2019), about 3 times the level of 5 years ago. All teams have doubled the value of their broadcast contracts with local TV in recent seasons (Brooklyn, Charlotte, Dallas or Portland) and other franchises are expected to follow suit.

In terms of financial security, the Golden State Warriors have secured their future revenues with $2 billion in mandatory revenues from sponsors, hotels and ticket sales. New York Knicks, although dramatic in sporting terms (only 2 finals played in 18 years) remains the richest club. NBA teams are more profitable than ever, with an average EBITDA of $61 million per team (double what it was two years ago).

In this context, this thematic list focuses on the key players who are impacted, both directly and indirectly, by the expansion of the NBA empire. It includes both equipment manufacturers, as well as partner companies and television channels.

Our selection

Financials
Other Consumer Lending
601M +15.82%
Technology
Other Internet Services
537B +9.83%
Consumer Cyclical
Sportswear & Outdoors Clothing
32.51B +15.48%
Industrials
Other Aerospace & Defense
194B +8.99%
Consumer Cyclical
Sports & Outdoor Footwear
40.33B -16.11%
Technology
Other Communications & Networking
70.28B -8.93%
Consumer Non-Cyclical
Other Food Retail & Distribution
9.84B +19.01%
Consumer Cyclical
Other Tires & Rubber Products
2.79B +8.33%
Industrials
Transaction & Payment Services
3.28B -7.45%
Consumer Cyclical
Other Apparel & Accessories
4.96B -9.23%
Consumer Cyclical
Quick Service Restaurants
39.91B +6.82%
Industrials
Other Air Freight & Logistics
49.73B -26.23%
Consumer Non-Cyclical
Other Non-Alcoholic Beverages
314B +17.25%
Consumer Non-Cyclical
Other Brewers
130B +19.75%
Technology
Other Integrated Telecommunications Services
185B +10.13%
Financials
Other Banks
52.5B +3.41%
Financials
Other Property & Casualty Insurance
51.59B +0.97%
Consumer Cyclical
Other Broadcasting
153B -23.83%
- - 32.05B -
Technology
Other Wireless Telecommunications Services
195B +19.24%
Financials
Other Banks
645B -3.23%
Consumer Cyclical
Other Apparel & Accessories
2.43B -29.59%
Consumer Cyclical
Quick Service Restaurants
223B +7.39%
Consumer Non-Cyclical
Carbonated Soft Drinks
196B -6.06%
Financials
Other Banks
43.23B +4.47%
Consumer Cyclical
Other Footwear
3.45B -53.52%
Consumer Cyclical
Casinos
814M -0.88%
Consumer Cyclical
Sports & Outdoor Footwear
82.3B -26.31%
Consumer Cyclical
Motorcycles & Scooters
2.8B -25.29%

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Heatmap

Calendar of the components

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Sector allocation

Ratings chart - Surperformance

Ratings ESG MSCI

  1. Stock Market
  2. Investment Themes
  3. Basketball: Reach new heights with the NBA