NHL SEASON CANCELLATION COSTS $400 MILLION IN AD REVENUE
By Rich Thomaselli
DETROIT (AdAge.com) -- Faced with a half-billion dollar loss from advertising revenue and TV contracts after canceling its season last week, the National Hockey League must now grapple with an erosion of confidence from fans and sponsors that threaten its future.
NHL must convince corporate sponsors and TV networks that it can be a viable entity again. (...)
"To say that future revenue streams have been compromised is an understatement," said sports marketing expert David Carter, a principal at Los Angeles-based Sports Business Group and a professor at the University of Southern California.(...)
Now if that isn't the destruction of a reputation, I don't know what is. You've got both short-term costs (advertising revenue that'll never come back) AND what is called here "an erosion of confidence" (quite the understatement).