Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research. On this week's episode, we take a look at the multibillion-dollar business that drives NCAA March Madness after a wild opening weekend for the college basketball tournament.
A No. 1 seed lost to a No. 16 seed for the first time ever, big brand name schools busted brackets early, and ratings jumped accordingly. But what might be more fascinating than the craziness on the court is the mind-boggling money that is generated during the event.
CBS CBS and Time Warner's TWX Turner bet big on the long-term viability of March Madness, committing billions of dollars to broadcast the tournament through 2032. The two media companies broadcast and stream all of the games across an array of networks, and the deal will see them retain the broadcasting rights no matter how fans consume games in the future.
On top of these broadcast fees, the NCAA makes millions from tickets and marketing deals. Capital One COF , AT&T T , and Coca-Cola KO remain the tournament's biggest sponsors this year. Meanwhile, companies like Pizza Hut YUM and Lowe's LOW will be ever present over the next few weeks, while Google GOOGL debuted the first advertising campaign for its cloud computing products as part of a new multiyear NCAA partnership.
The players themselves will also act as walking, talking, and dunking billboards for Nike NKE , Adidas ADDYY , and Under Armour UAA . And that is just the start of the major money that fuels March Madness. Check out the show to hear more!
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion - more than a 3,800% increase in the previous 12 months. They're now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks' has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.
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