What’s The Economic Impact Of Michael Jordan? (VIDEO)
Michael Jordan is about to turn 50 years old, and even though he’s been out of the NBA for a decade, the economic impact of his commercial success is still being felt world-wide.
When Michael Jordan broke into the NBA in the early 1980’s, athlete’s didn’t have their own brands, they weren’t a business, and endorsements were hard to come by.
Michael Jordan changed all that.
Nike’s “Jumpman” advertising campaign turned Jordan into the most recognizable superstar in sports, and the impact was felt around the world. No matter where you live, whether we’re talking about China, Africa, Russia, or Australia, everyone knows and recognizes the Jumpman logo. It has become one of the most identifiable brands in the world, and he’s the only athlete that can make that claim.
When you measure the economic impact of Jordan’s brand, the results are staggering. In the brand’s debut year of 1984, the Jumpman campaign sold nearly $130 million dollars. As of 1998, Michael Jordan’s Jumpman clothing and shoe line had earned around $2.6 billion dollars for Nike. What’s most impressive? Even in retirement, Jordan’s Jumpman brand is earning money hand over fist. In 2007, Jordan’s brand grossed approximately $800 million. The economic impact of Michael Jordan has been so influential that it has been dubbed “The Jordan Effect.”
The Jordan Effect has been valued at around $9.53 billion dollars.
The commercial success of Jordan’s brand is even more impressive when you consider the fact that people weren’t using computers when he broke into the league. Technology was in its infancy in 1984, and Jordan managed to carve out one of the most recognizable brands in a time where companies couldn’t use the internet or social media to sell product. Nike has attempted to replicate Jordan’s success with the likes of Lebron James and Jon Jones, but there’s just something special about Michael Jordan…
Stats taken from Kevin Spence’s Gatton Student Research Publication.