Forbes Magazine Analysis SaysPenguins Have Fastest-Growing Brand in NHL
/ Pittsburgh Penguins
The Pittsburgh Penguins have the fastest-growing team brand in the National Hockey League and one of the fastest-growing team brands in all of professional sports, according to a Forbes Magazine analysis published this month.
The Forbes analysis values a team’s brand as the “portion of a team’s overall value that is derived from their name, as opposed to their market and league.” The magazine said the value of Penguins’ brand has grown by 88 percent over the past three seasons.
The Penguins will record their 113th straight sellout tonight, and the team recently signed a naming rights deal with Consol Energy for the new Consol Energy Center. The Penguins have the most-visited NHL team website in the United States, set a record for local television ratings on FSN Pittsburgh for the second straight year, and continue to establish new standards for suite sales and sponsorship sales.
“The Pittsburgh Penguins are honored to be identified as the fastest-growing team brand in the NHL, and one of the fastest-growing brands in professional sports,” said team president David Morehouse. “This obviously is a tribute to the spectacular play and community involvement of our players, but I’d also like to thank our staff members who have implemented such a successful brand strategy to enhance our growth and outreach.”
Last season, the Penguins were ranked No. 1 in the NHL in fan relations by ESPN Magazine.
The five fastest-growing brands in the NHL, according to Forbes, are the Penguins, the Edmonton Oilers, the Montreal Canadiens, the Carolina Hurricanes and the Buffalo Sabres.
The fastest-growing brands in the other major professionals sports are the Cleveland Cavaliers (NBA), the Arizona Cardinals (NFL) and the Tampa Bay Rays (MLB).