LeBron James' prime-time, nationally televised announcement that he would be leaving Cleveland and going to the Miami Heat generated $6 million in advertising revenue.
View full sizeLeBron James nationally televised announcement that he would be leaving the Cavs for the Miami Heat generated $6 million in advertising revenue.What's the actual market value of 30 pieces of silver today? About $6 million, turns out.
LeBron James' prime-time announcement on ESPN that he would be taking his talents to South Beach and the Miami Heat generated $6 million in advertising revenue, according to adage.com, the only arm of Advertising Age magazine. The network donated the time and the ad revenues were donated to various charities. The Boys and Girls Clubs of America were the greatest benefactors, receiving about $2.5 million.
Uber-agent Ari Emanuel is the man behind the program, said adage.com. And though the move broke the hearts of a Cleveland fan base that had supported James for his seven-year pro career, and even before that as a high school star at St. Vincent-St. Mary, Emanuel defended it as the shape of things to come.
"Everybody can say what they want -- it was the wrong decision, there was too much hoopla, whatever -- but for me it was about doing the event, getting the advertisers to participate and doing it for charity," Mr. Emanuel said. "This was a major success for advertisers, and we're getting closer to pushing the needle on advertiser-content programming."