2017足球50强品牌报告（英文版）.pdf

Football 502017The annual report on the most valuable football brandsJune 2017Brand Finance Football 50 June 2017  3.Brand Finance Australia 100 March 2016 2.  Global 500 February 2016 Airlines 30 30 February 2015Football 50 June 2017Foreword.Foreword 2 Acknowledgements 4Methodology 5Definitions 6Executive Summary 8Brand Finance Football 50 Full Results (USDm) 14Brand Finance Football 50 Full Results (GBPm) 15BrandFinanceFootball50FullResults(EURm) 16Brand Finance Football 50 Full Results: Brand Strength Rank 17TopTenProfiles 18ClubInterview:VflWolfsburg 28Understanding Chinas Football Fans 32Sports Services 34Sports Services Clients 35ClientCaseStudy:Femexfut 36Local Insight: Laurence Newell, BF Mexico 37General Services 38Contact Details 39ContentsDavid Haigh, CEO, Brand FinanceWelcome to the 11th annual Brand Finance Football 50, the only study of its kind to analyse and rank football clubs by the value of their brands, providing a deep understanding of the opportunities and challenges facing the industry. It is becoming increasingly important for clubs, no matter what their size, to recognise the value of their brands. Enduring fan loyalty, ever-increasing income from broadcasting rights and the deep pockets of owners can mean that brand is overlooked as an opportunity to maximise revenue by some major clubs. However, with the vast sponsorship deals agreed over the past couple of seasons such as Manchester Uniteds 52 million-a-year deal with Chevrolet, it is clear that harnessing your brand in the correct way can be hugely beneficial in terms of generating added revenue that can be invested into playing staff or infrastructure.  Brand can be leveraged for financial gain across all three income streams, not just commercial (which includes sponsorship and merchandising). If we look at the broadcasting stream, the record-breaking Premier League deal for the right to show games from the next three seasons reflects the strength of the Premier League brand. That strength comes both from the shrewd management of those in charge of the league, but also from the individual clubs themselves, whose mythology and iconography have been integral to the leagues development. When looking to improve match-day revenue, the first and often only recourse is to attempt to enlarge stadia. The extra revenue from the Premier League has allowed many of its teams to do just that with Liverpool, Tottenham and Chelsea all in the process of increasing capacity at their grounds. This is without doubt a worthwhile endeavour, however it is not always possible, certainly in the short term. Focussing on the sorts of brand equity drivers that underpin the strategies of traditional commercial and retail organisations can be a much quicker and more efficient route to take. Improving match-day experience within the stadium, optimising retail opportunities and engaging with fans can reap rewards. Huge investments are already being made in the design, launch, re-launch and ongoing promotion of football brands. As we have established, this makes sense. Unfortunately, most clubs fail to go beyond that, missing huge opportunities to effectively make use of what are often their most important assets.Understanding the value of brands is key. As with any asset, without knowing the precise, financial value, how can you know if you are maximising your returns? If you are negotiating sponsorship of your brand, how do you know what is a fair fee? As a sponsor, how do you know which organisations are worth associating your brand with? When considering multiple sponsorships, how to you determine the funds to allocate to each? How do you best determine return on investment? Even players should take note. Few will be as commercially successful as brand Beckham, but image rights can be very lucrative and form a detailed part of contract negotiations. If you are intending to license your personal brand, how can you know the correct price? Brand Finance has conducted hundreds of brand and branded-business valuations to help answer these questions. We have worked with companies of all shapes and sizes, from blue-chip internationals such as Vodafone and Shell, to football clubs and other sports franchises from Europe and the wider world. Whether youre an owner, marketer, director, sponsor, player or a fan, we hope you enjoy the Brand Finance Football 50 2016 and come away with a better understanding of why brands matter and what they can do for you.Brand Finance Football 50 June 2017  5.Brand Finance Football 50 June 2017 4.Methodology Brand Finance calculates the values of the brands in its league tables using the Royalty Relief approach. This approach involves estimating the likely future sales that are attributable to a brand and calculating a royalty rate that would be charged for the use of the brand, i.e. what the owner would have to pay for the use of the brandassuming it were not already owned. Brand strength expressed as a BSI score out of 100 and a letter grade on a scale of AAA+ to D. BSI score applied to an appropriate sector royalty rate range.Royalty rate applied to historic and forecast revenues to derive brand values.Post-tax brand revenues are discounted to a net present value (NPV) which equals the brand value.The steps in this process are as follows: 1  Calculate brand strength on a scale of 0 to 100: the BSI captures the ability of clubs to drum up popular interest and then convert interest into support and custom. The BSI covers three broad topics of: brand investment, equity in the form of emotional connection harboured by a brand, and bottom line commercial performance.2  As brand has differing effects on each source of income, we then split revenues down into three streams: match-day, broadcasting and commercial. Strong      brandWeakbrandBrand strength index(BSI)BrandRoyalty rateBrand revenues Brand valueBrand investmentBrand equityBrand performanceAs brands have differing effects on different revenue streams, these will each have their own respective royalty rate applicable to them. The royalty rates are derived by looking at comparable agreements and through in-house analysis.3  Calculate royalty rate. The brand strength score is applied to the royalty rate range to arrive at a royalty rate. For example, if the royalty rate range in a brands sector is 0-5% and a brand has a brand strength score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.4  Determine brand specific revenues estimating a proportion of parent company revenues attributable to a specific brand.5   Determine forecast brand specific revenues using a function of historic revenues, equity analyst forecasts and economic growth rates.6  Apply the royalty rate to the forecast revenues to derive brand revenues.7  Brand revenues are discounted post tax to a net present value, equal to the brand value.BroadcastingCommercialMatch-dayAcknowledgements Brand Finance:Andy Moore Chloe WetherallClementine RibletDavid HaighDeclan AhernFinn DowleyHugo HensleyJoslyn PannuKonrad JagodzinskiLaurence NewellMaria TemporalRichard HaighRobert HaighExternal:Thomas Rttgermann - Managing Director, Vfl WolfsburgDesigner:Adrian TaylorClementine RibletJoslyn PannuBrand Finance is the worlds leading independent brand valuation and strategy consultancy. Brand Finance was set up in 1996 with the aim of bridging the gap between marketing and finance. For over 20 years, we have helped companies and organisations of all types (including clubs, sponsors, leagues and governing bodies) to connect their brands to the bottom line. We pride ourselves on four key strengths:  Independence  Technical Credibility  Transparency  ExpertiseBrand Finance puts thousands of the worlds biggest brands to the test every year, evaluating which are the most powerful and most valuable. The Football 50 is just one of many annual reports produced by Brand Finance.For more information, please visit our website: brandfinance ContributorsBrand Finance Football 50 June 2017  7.Brand Finance Football 50 June 2017 6.DefinitionsDefinitions+ Enterprise Value the value of the entire enterprise, made up of multiple branded businesses e.g. City Football Group owns Manchester City FC, Melbourne City FC etc+ Branded Business Value the value of a single branded business operating under the subject brand+ Brand Contribution The totaleconomic benefit derived by abusiness from its brand+ Brand Value the value of the trade marks (and relating marketing IP and goodwill attached to it) within the branded businessBranded BusinessBranded EnterpriseE.g.City Football GroupE.g.Manchester City FCE.g.Manchester City FCBrand ValueBranded BusinessBranded EnterpriseBrand ContributionE.g.Manchester City FCBrandIn the very broadest sense, a brand is the focus for all the expectations and opinions held by customers, staff and other stakeholders about an organisation and its products and services. However, when looking at brands as business assets that can be bought, sold and licensed, a more technical definition is required. Brand Finance helped to craft the internationally recognised standard on Brand Valuation, ISO 10668. That defines a brand as “a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos and designs, or a combination of these, intended to identify goods, services or entities, or a combination of these, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits/value”.Brand ContributionThe brand values contained in our league tables are those of the potentially transferable brand asset only, but for marketers and managers alike. An assessment of overall brand contribution to a business provides powerful insights to help optimise performance.Brand Contribution represents the overall uplift in shareholder value that the business derives from owning the brand rather than operating a generic brand. Brands affect a variety of stakeholders, not just customers, but also fans, players, technical staff, strategic partners, regulators, investors and more, having a significant impact on financial value beyond what can be bought or sold in a transaction.Brand Strength Brand Strength is the part of our analysis most directly and easily influenced by on pitch performance, publicity and brand management. In order to determine the strength of a brand we have developed the Brand Strength Index (BSI). We analyse performance in three key areas; investment, brand equity and finally the impact of those on business performance. Metrics included within these categories include, stadium capacity, squad size and value, social media presence, on pitch performance, fan satisfaction, fair-play rating, stadium utilization and revenue. Following this analysis, each brand is assigned a BSI score out of 100, which is fed into the brand value calculation. Based on the score, each brand in the league table is assigned a rating between AAA+ and D in a format similar to a credit rating.     Brand ValueBrand value is calculated using the Royalty Relief approach. For each brand a royalty rate is set. This is based on the % of revenues that would have to be paid for the use of the brand if it were owned by a third party. The stronger the brand, the higher the proportion of a businesss revenues are likely to attributable to the brand rather than other business assets. Therefore in general, the higher the brand strength is, the higher the royalty rate will be. The royalty rate is applied to historic and forecast revenues, then discounted back to a net present value to determine brand value. The application of revenues explains how brand value and strength can diverge. It is possible for a club to have a very strong brand but one of mediocre value if revenues are low. Implementing the right brand and commercial strategy is the way to leverage brand for financial gain, improving brand value.Effect of a Brand on StakeholdersPotentialCustomersExistingCustomersInfluencerse.g. MediaTradeChannelsStrategicAllies &SuppliersInvestorsDebt providersAll Other EmployeesTechnical StaffDirectorsPlayersBrandFansBrand Finance Football 50 June 2017  9.Brand Finance Football 50 June 2017 8.Real Madrids superb season that saw victory in both La Liga and the Champions League, sees Los Blancos eclipse rivals Barcelona to become the worlds most powerful football club brand. The brand power of both clubs was already formidable and unmatched by any other club worldwide. The fierce rivalry of El Clsico, their dominance on the European stage and footballing styles, that are as beautiful as they are effective, served to create brands that are unmatched by German, French, English or Italian rivals. Bara has always remained just fractionally ahead of Real however, until now. Reals brand strength score is up from 94.6 in 2016 to 96.1, edging ahead of Barcelona on 95.4, secured after wresting La Liga title from Bara and claiming a record 12th Champions League victory. However, whilst Real can bask in the glory of its unparalleled reputation, it could be doing a lot more to capitalise on its on-pitch success. Despite being footballs most powerful brand, in terms of brand value, it still trails Manchester United by a considerable margin. United, despite finishing a disappointing 6th in the Premier League, is the most valuable brand in football, worth US$1.733 billion to Reals US$1.419 billion. Uniteds success is partly the result of an enduring halo effect from the good times under Alex Ferguson. However, the most crucial ingredient has been the clubs commercial nous and ability to convert its success into lucrative deals across dozens of industry sectors and national territories. In contrast, while Real has blockbuster deals such as its reported billion euro agreement with Adidas, it has not leveraged its brand equity to the same extent. Real could perform significantly better in growth markets outside Europe too. In some, such as the Middle East, Real is popular, yet Brand Finance research (more information on page 32) Football 50Executive SummaryRank 2017: 62016: 4     BV 2017: USD 1021m BV 2016: USD 905mRank 2017: 7  2016: 7     BV 2017: USD 1011m  BV 2016: USD 792mBrand Rating: AAA-Rank 2017: 10  2016: 10     BV 2017: USD696mBV 2016: USD 441m6710+13%+28%Rank 2017: 1  2016: 1     BV 2017: USD 1733m  BV 2016: USD 1170mRank 2017: 2  2016: 2     BV 2017: USD 1419m  BV 2016: USD 1148mRank 2017: 3  2016: 3     BV 2017: USD 1418m BV 2016: USD 993mRank 2017: 4  2016: 8     BV 2017: USD 1248m  BV 2016: USD776m1234+48%+24%+61%+58%Rank 2017: 8  2016: 6   BV 2017: USD 941mBV 2016: CHF 858m8Rank 2017: 9  2016: 9     BV 2017: USD 908m BV 2016: USD 748m9+21%Rank 2017: 5  2016: 5     BV 2017: USD 1222m  BV 2016: USD867m5+41%+10%+43%BSI Score96.1BSI Score95.4BSI Sco