cASE STUDY: NAMING RIGHTS
The CIM Group (CIM), landlord and leasing agent for Hollywood & Highland Center, had hired Premier in late 2011 to increase commercial revenues by securing traditional sponsorships. Shortly thereafter, CIM was alerted that Kodak’s bankruptcy filing would open the home of the Academy Awards to a new name. Premier quickly shifted their focus to securing a new naming rights partner for the Kodak Theatre and the significant revenue that would come with it.
Premier utilized its proprietary Revenue Maximizer™ methodology to identify innovative opportunities that would attract companies outside traditional naming rights sponsor categories, including the film and entertainment industry. Premier also prepared a valuation and package that could command a higher price for the naming rights sponsorship. With a go-to-market plan in hand, Premier executives conducted approximately one hundred calls and numerous follow-up meetings with key domestic and international decision makers.
- Interested ten highly qualified candidates with both quality brand image and long-term financial stability
- Negotiated simultaneously with the final companies that were the best fit for Hollywood & Highland and the Academy for Motion Picture Arts and Sciences
- Final contract signed and Dolby Theatre name unveiled within six months of the commencement of the sales process
- Secured the most valuable non-sports naming rights in history
- Dolby utilized the theatre naming rights entitlement as the centerpiece of its global branding platform, product demonstration and releases, company announcements, and relationship development initiatives