Endeavor-owned Professional Bull Riders is forecasting its biggest year-on-year rise in sponsorship revenue since its takeover by the sports and entertainment group.
PBR chief executive Sean Gleason said the organisation is predicting a 25-per-cent rise in sponsorship revenue this season, bolstered by new deals with the likes of Concealed Carry, K&N Air Filters, Can-Am and the Palladium Hotel Group.
Concealed Carry is a membership group which offers training and education, along with legal protection for gun owners who need an attorney after using their firearm. Gleason said partnering with the organisation makes sense due to the fact the “vast majority” of PBR fans are Second Amendment supporters.
He told Bloomberg: “Our job is not to be middle of the road. We’ve got to lean into the values that are represented by our audience and the values that we believe our brand should stand for.”
PBR claims its fans are more likely to buy sponsors’ products than any of the four major leagues in the US. According to PBR, 58 per cent of its consumers bought from a sponsor in the past year specifically because of the sponsor relationship.
Endeavor (then WME-IMG) furthered its presence in the live event productions market by agreeing to acquire PBR, the world’s premier bull riding circuit, in April 2015.
In April 2019, CBS Sports extended its exclusive media-rights deal with Professional Bull Riders through 2028, averaging 1.2 million viewers per broadcast last year.
Gleason added: “It would be disingenuous to try to tell the world that we’re something we’re not, and that’s part of the decisions we’ve made along the way with respect to how we’ve positioned our brand. That’s why we’ve resonated so well with such a large group of people in the US – and that isn’t everyone.”