When the NCAA decided to allow athletes to profit from their name, image, and likeness (NIL), it changed the game for many who play sports at all levels. It took a while, but once it happened, you could see a floodgate open. Athletes figured out that they could not only compete on the field but also cash in off of it.
Social Media to Cash In
One of the most common and effective ways these athletes started to monetize their brand was through social media. Platforms like Instagram, TikTok, and Twitter became valuable marketing tools where they could share their personal brands and connect with fans. For instance, University of Alabama quarterback Bryce Young signed a deal that could bring him over $3 million by promoting various brands on his social media. When you have hundreds of thousands, if not millions, of followers, brands start to line up and pay for your influence. But engagement matters too. Athletes with higher engagement rates can ask for more money in endorsement deals, which means that using social media allows athletes to show their personalities and it also helps them build their value in negotiations.
The Merch Game
Another way athletes are stepping up their monetization efforts is by launching their own merchandise, which means that instead of just signing contracts with big brands, some decide to release their own lines of clothing, shoes, or accessories. Athletes saw the chance to brand themselves, and many jumped on that train. Take Oklahoma State's Cowboy wrestler AJ Ferrari, who launched his own apparel line.
Direct Collaborations with Brands
Another creative way athletes monetize their brands is through direct collaborations with companies. What’s great is that these partnerships often go beyond just a simple endorsement deal. They get involved in product development, branding, and even marketing strategies. So when an athlete has a hand in creating a product, it can add authenticity, and make fans more likely to buy it. An excellent example of this is the partnership between basketball star Zion Williamson and Nike. Williamson signed an endorsement deal and also worked closely with Nike on developing his own shoe line.
Sponsorships and Public Speaking
Many athletes also turn to sponsorships and public speaking gigs as a way to monetize their brand. They find ways to connect their athletic experience with audiences, whether at schools, corporate events, or local communities. Athletes have stories. They have journeyed through struggles and successes that resonate with people. But this avenue of income offers a different kind of fulfillment too – by sharing their experiences, athletes inspire others while adding some extra cash to their pockets.
A new dawn has risen for the athletes, and it looks like they will continue to find creative and innovative ways to cash in on their hard-earned fame.