On3, the premier college sports digital media, data and marketing company for fans, media, coaches, and athletes, announced the launch of the On3 Athlete Network, an interactive platform to allow high school and college athletes to further understand their respective On3 NIL Valuation and capitalize on additional revenue opportunities.
“The NIL marketplace is expected to grow from $500 million today into a $3-5 Billion marketplace”
On3 has developed an extensive algorithm to establish an annual NIL Valuation for college and elite high school athletes. The On3 NIL Valuation has quickly become the industry standard for the NIL marketplace and college athletes across the country.
Also Read: Brett Sheppard Joins Consensus, the Leader in Demo Automation for Presales, as VP of Marketing
For the first time, athletes can join the On3 Athlete Network by claiming their On3 profile to unlock a data-rich experience that allows each member of the Network to see the detail behind their own NIL valuation, report and verify NIL deals to build that value, and see how that valuation changes based on which school they attend or are considering.
“The On3 Athlete Network is the natural next step in the NIL process. It is designed to empower athletes to take control of their brand and understand their value,” said Shannon Terry, On3’s Founder and CEO. “By claiming their profile, athletes will be able to see and understand their On3 NIL Valuation, how it’s formulated, and how they can positively impact their individual value in the Name, Image and Likeness era.”
The On3 NIL Valuation allocates individual values to an athlete’s Performance, Influence and Exposure (PIE), with two components to the overall valuation: Roster Value and Brand Value.
Roster Value, a calculation of an athlete’s respective value to their team, is the amount an athlete hopes to receive primarily through a school’s Collective, from sources such as camps, appearances, local businesses, licensing, and memorabilia, among others. The amount is based on the athlete’s (P)erformance value, their school’s NIL Collective size and the overall NIL market.
Brand Value is generated when an athlete’s (P)erformance, (I)nfluence, and (E)xposure combines to create awareness on a regional and national scale, creating advertising and sponsorship opportunities beyond Roster Value. Brand Value revenue originates from the athlete’s personal network and is not sourced from Collectives/Schools.
“The NIL marketplace is expected to grow from $500 million today into a $3-5 Billion marketplace,” Terry added. “We want to educate and empower athletes to understand their value. Today is just the beginning and we have aggressive plans to continue bringing value through our unique data and analytics platform.”
SOURCE: Businesswire