French advertising giant Publicis Groupe has a new American teammate: Travis Kelce. The ad-holding company and the popular Kansas City Chiefs tight end are forming a joint venture that aims to help advertisers find and start partnerships with college athletes and universities, a sign of the growing importance of so-called “name, image and likeness” deals for top marketers. Publicis and Kelce will launch Tekta, an agency that will help brands find potential partners and measure the effectiveness of agreements they may strike.
Tekta will make use of advertiser relationships already curated by Publicis Sports, the company’s sports-media investment agency, as well as Kelce’s expertise. 3 Arts Sports will also be involved in the new offering, tapping its relationships with athletes and colleges., The sports-representation firm is part of Lionsgate’s 3 Arts Entertainment. A select group of Publicis Sports clients will gain access to an NIL network that encompasses 45,000 Division 1 student-athletes, and 68 universities. Since the NCAA changed its rules in 2001, student athletes have been able to monetize their fame at the college level.
Keeping track of it all, however, can be daunting. The NIL market is estimated at $4.5 billion, according to Opendorse, a platform where student athletes can set themselves up to interact with marketers. According to the company. student-athletes enjoy a higher rate of engagement with followers when compared to traditional influencers.
This has been challenging—if not impossible—to do from a brand standpoint, given all the pain points,” said Suzy Deering, CEO, Publicis Sports, in a statement. Streamlining the process will allow everyone to fully realize the potential of engaging across the board, including the significant opportunity that lies in those untapped sports and undiscovered personalities.”
Extract — continue reading at the source.
