Do Schools Gain financially from March Madness?
Rob Tuchman on how universities in the tournament are handling the upsets and victories.
- Duration 10:05
- Date Mar 20, 2012
Rob Tuchman on how universities in the tournament are handling the upsets and victories.
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Vote for things March Madness.
Now I did -- on an interest in March Madness with his mind on the -- Upset duke thought I said that's not my son that rank right up there would Jesus walking around what the -- You GUS and Warner haven't provided -- I about the I -- government is you're that's right now president of elite experiences.
And they just to get the -- -- correct it's TSE world dot com sexy elite Expedia yeah that's what I thought.
Elise and EXP.
-- like TE XP dot com okay go particulates Eric is it right.
So before we talk about the advertising of it mean.
The bigger that upset the better it is isn't it.
For the a whole the whole thing.
Yeah well it's definitely better for the fans and from a fan perspective and that's the beautiful thing about PNC torn in the last few years give a lot of these teams where.
You know used to be you know certainly a fifteen was gonna be the number two.
Now you see like -- Lehigh beating -- -- there's a lot of parity.
That's great for the overall product but what the NCA -- what television and obviously advertisers want.
They want the big teams and they want to draw the numbers so that's important for them but overall for the tournament you wanna see this -- -- easy it's been unbelievable.
I mean -- you know what we couldn't and then when we I advanced.
They're probably just presumably that wasn't an advance so they couldn't get the game anywhere so my son and I -- -- watching on his phone.
Until this I'm watching a game that you an avocado and -- -- -- median.
Totally and that's the great thing about this -- as well is that you have all these alumni cases and especially with some of these.
You school right the Ohio State's the Michigan -- -- mean.
Thousands and thousands of people who are interest in whether they like basketball or not.
They're still gonna pull this up and they're gonna root for their teens and you also -- another great point is nowadays where you have.
You can watch the game on your phone or your tablet I mean you couldn't do that literally three or four years ago though.
It's all over.
So therefore this is and that have for advertising dollars -- it's the best thing that ever could have happened to the NC -- -- into what they've done.
He's tablets digital media because now what you have is you have three full weeks of advertising before it was just -- -- advertise on TV.
And only up until last year where they really showcasing every single game so now you can advertise on television you can have an advertiser for you know that.
The up online version you can have an advertiser for.
Some of the apps that -- -- secrets of the increased their assets and their inventory.
So it's an advertisers dream and the key thing is that.
There's not a ton of other events going on over this three week period -- about that you're just focused on this totally yes.
OK so who's winning -- what advertisers are winning -- -- I even ask me who's gonna win no idea that.
Hang -- and ask Kathy I am doing alright Michael when I ever -- -- -- whoever.
I have in the finals.
Who loses but in any case the advertisers that are winning the best ones and I've seen first off you have GM back in the game -- autos.
Autos -- backseat who would have ever thought you know 34 years ago we're bailing them out now they're spending -- it's gonna spend upwards of sixty million dollars on -- -- -- -- There's also Coca-Cola which has done a great -- Capital One not only for advertising on television but they don't agree -- in terms of advertising.
On the online digital media side with the you know -- c.'s website -- -- So those brands have done extremely well also eighteen TLG have also done -- they're winning.
The great thing and the -- that the advertisers don't really happy doubt he's viewership is up.
So viewership is up over last year by three or 4% already and you still have a lot of big teams left.
So they think that trend will continue.
It's interesting because if you're saying that.
-- can choose to advertise.
Either on the web -- on TV.
I got to leave the web is cheaper advertising isn't well it depends it obviously depends on CPM and how much but yes overall and if you look at advertising for the championship game.
You're looking at a value -- one point five million dollars so.
Yet and that's only second to the Super Bowl it's three times as much as the NB championship.
Almost three times as much as the World Series so you really see the amount of people that the -- -- -- is attracting but the great thing about it is like we said.
This is three weeks and you know everyone at work they're checking out their brackets -- online so this is a perfect place to market to them so you write that digital advertising has almost become more important right.
Then the general -- Except -- -- -- like battle all day long consistently point you're doing it over the course of three weeks not want to provoke exactly OK so you consider that there's this interesting trends that affect an.
Its march trend.
That means we've put now when -- -- are now.
And I did say it is -- but yes there is what's really interesting in this is kind of come up in and I've never heard -- this before but in the last week or two.
People are getting are men are getting -- -- because they're gonna be out of work for a few days so what better to do when -- out of work.
When he gets hit you're -- -- where he can sit on the couch and watch schemes so some of these.
Doctors are actually advertising discounts and deals during the final 43 week -- -- Just -- can get -- -- sector.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Bizarre it's it's really weird -- get you know that was always our connection it's it's really would I wonder if it's working but yeah -- -- instincts.
Ahead at the OK well let's talk about what this does for the schools like Li I.
I don't -- 8% prior sit this event my son would consistently say I'm not gonna act as an athletic -- and Allison long view on.
Totally I think that there's such an intangible value just what she said when would he ever -- Lehigh first half in this morning right then be due.
It's incredible opportunity for those schools to showcase basically there athletic programs but really the school itself.
Suing your feeling out you know your.
Applications -- -- thinking about what schools to go to.
He definitely rings and every eighteen year old you know kids' -- like a -- Iranian T 28 -- -- that exposure there is no doubt there's that connection.
I mean myself -- -- Boston University.
I'm still his stating go to a Big Ten school I wish I went to -- School now I can't be gets in the toilet like once every ten years I always lose you know that the sixteenth -- But you know I would have died go to the I've seen you win next fifteen seats second -- Now you know I consider the principal at a map that's for sure I would -- -- -- -- business is sick it's creating experiences exactly OK so -- is going to file for an experience so yes that's one of you know that's our bread and -- we do a lot of those experiences.
All types of sporting events entertainment venues yes that's right we got the right one that's cool and down basically hit there you see there's an -- the experience -- -- staying here so.
I'll -- that that that's a relationship experience you go to California you meet with her there's a lot of -- thinks he's a millionaire matchmaker and we are doing a lot of those different types -- -- so it's not only sports stuff but also like for instance at the final four we had experiences where you can meet former players at.
Athletes we're really building a business it's all about unique experience and sports entertainment arts culture wellness lifestyle.
And we're really we believe the first marketplace for all these unique experiences but final four.
Has always been one of our biggest -- and that's why we do a ton of business over final four we bring in tons of customers.
We have a lot of consumers is a real big consumer -- because.
You know you have people who are alumnus and they wanna go so it doesn't matter soon you look at when you say you planning -- -- that you.
You get into the game you booked hotels it would ever meet meet me grades of all -- exactly all one big pack all one big package on the PSE a T now well you know it's the great thing about final -- it's actually a lot less expensive -- don't give you could -- also we've.
Your team's gonna make the championship so basically be put together.
These packages and packaged into the final four would include four days -- hotels include all three games -- into the game Saturday -- begins Monday.
And it would include a meet and greet and those packages will run three or 4000 dollars a person.
Now that's actually pretty good compared to like a Super Bowl or Olympics are masters which are 67000.
But the great thing that you can do which I'm actually gonna -- this year the final four is.
I go down on Saturday night that's financially -- -- and -- it's in New Orleans on every destination re gathered -- awesome time.
Parties galore and basketball but in any case what I would do so -- -- -- Saturday night what happens is you fourteens.
So the two teams that lose all their fans wanna get the hell out of ten -- wanna be -- at analyst -- They leave their hotels.
The sell their tickets so I've gone to the championship game on Monday night.
For literally a few hundred dollar -- in you know.
Mid level or or lower level in between the basket seats got a hotel room because the hotels are reselling the room -- -- left under -- thousand dollars immunity it's a great way to view.
The final four at Peter before I let you -- people are paying 34000 positive experience -- yet easy thing.
People love it yes I think so what recession no well you know it's amazing we were never as busy in the last three months that we got -- back -- 07 away.
You know and and you saw companies not spending but I will tell you companies are definitely -- and finally companies but individual consumers I mean we -- Calls for the Super Bowl like you wouldn't believe from New York fans in Boston since it's -- Yeah definitely -- that's something.
Rob tuchman -- and it act Robert tuchman president elderly experiences in the web -- we had it up is delete EXP dot com.
Check -- out just wanna go to the bottom formula is excellent place to hang out this is all good stuff thank you so -- basically --