New Brand Finance data reveals that nearly one in five NFL fans have placed a sports bet in the past year, reflecting the league’s growing influence on fan engagement
[Dallas] 12 November 2024 - The Dallas Cowboys continue their reign as the NFL’s most valuable brand, with a brand value of USD2.9 billion, a 28% increase from last year, according to a new report by Brand Finance, the world's leading brand valuation consultancy. This growth, driven by increased revenues, higher ticket prices, and a new TV rights deal, solidifies their position as not only the top NFL brand but the most valuable sports brand globally. Their brand value far surpasses that of Real Madrid, the world’s most valuable soccer brand at USD1.8 billion and second most valuable sports brand in the world.
The Cowboys’ lead remains formidable, with their brand value more than double that of the San Francisco 49ers, which climbed to USD1.4 billion after a 48% increase. With their commercial success and strengthened brand metrics, the 49ers have risen from fifth place to second.
The Kansas City Chiefs, propelled by their Super Bowl LVIII win, surged in brand value from USD919 million in 2023, where they ranked seventh, to USD1.2 billion, now placing them as the NFL’s third most valuable brand. The Chiefs’ back-to-back championships and rising global fanbase, amplified by tight-end Travis Kelce’s relationship with pop superstar Taylor Swift, have further driven their ascent in the ranking.
The Cowboys also maintain their status as the NFL’s strongest brand, with a Brand Strength Index (BSI) score of 85.1 out of 100. Their performance in squad investment, brand image, and management continues to drive their dominance. Brand Finance research reveals that the Cowboys’ 10 out of 10 score for team following reinforces their position as the NFL’s most-followed team worldwide.
"The Dallas Cowboys' brand value of $2.9 billion highlights their winning record of 89-64 since 2015, but also the strategic vision behind their success. Under the guidance of Charlotte Jones, Chief Brand Officer and Jerry Jones's daughter, the Cowboys have masterfully cultivated their brand identity. The team management’s focus on brand value is evident as the Cowboys’ brand is more valuable than the 5 lowest-value NFL team brands combined."
Hugo Hensley, Head of Sports Services at Brand Finance
30 out of 32 brands recorded an increase in brand value in this year’s NFL ranking as the league’s new TV rights deal has boosted revenues across the board. The New York Jets saw the largest rise in brand value, up 50% to USD719 million. According to Brand Finance data, this rise can also be attributed to the Jets’ improved brand strength, particularly in perceived innovation and ‘the team has a lot of star players’.
The Baltimore Ravens and Houston Texans also posted significant growth, rising by 50% and 48% respectively, reflecting strong on-field performances and fan engagement.
Meanwhile, the New England Patriots experienced a 5% brand value decline to USD1.1 billion, with falling BSI scores driven by management issues and dissatisfaction from both players and fans.
The legalization of sports betting in 38 states has transformed the NFL’s brand landscape. As partnerships with betting brands like Caesars and FanDuel deepen, fans are increasingly engaging with the league through immersive in-stadium experiences. Brand Finance data shows that 19% of NFL followers have placed a bet in the past year, highlighting the new ways fans interact with the game.
“The NFL’s innovative strategies, particularly in the realm of sports betting, are fundamentally transforming fan engagement. Harnessing cutting-edge technology and partnering with betting companies enhances the fan experience while giving the NFL an edge in an increasingly competitive entertainment landscape.”
Laurence Newell, Managing Director, Brand Finance North America
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.
Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.
Brand Finance is a regulated accountancy firm, leading the standardization of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
