LG Electronics USA today announced that it had inked a deal to become an official NCAA corporate sponsor. Under the terms of the agreement with the NCAA and CBS Sports, LG will have exclusive category marketing rights for all 88 championship events across 23 sports including March Madness.
The three-year deal encompasses LG’s home appliances, electronics and mobile phone brands. LG plans on leveraging the relationship to promote its new “Something Better” campaign, which touts its products’ design and technology, among NCAA fans. The ad campaign, created by Y&R’s BrandBuzz unit in New York, broke over the summer. The brand’s overarching tagline is “Life’s Good.”
“Through this alliance, we will unite all three major product categories to help build a common feel for the brand,” said John Weinstock, vp, marketing for LG Electronics USA, in a statement. The company estimates it will reach 1,000 member schools, 400,000 student athletes and 100 million fans. Financial terms of the deal were not disclosed.
Chris Simko, senior vp, CBS Sports sales and marketing and director of CBS Sports Properties, said in a statement, “With custom branding initiatives across all three lines of business creating connections with millions of customers, LG will undoubtedly provide unique, year-round marketing and promotional activation opportunities for the NCAA and CBS Sports.”
LG spent $85 million on media last year, per The Nielsen Co. For the first six months of the year, it spent $48 million.