The NFL draft brings a lot of hype and is supposed to be a good thing for Nashville and surrounding cities, but was it really a success? In previous years, the NFL draft has brought millions upon millions of dollars to cities such as Dallas and Philadelphia, and this year the event was held in Music City.
The NFL draft, of course, helped the city of Nashville from a financial standpoint, but there are other benefits the city gains from hosting the event. The following is a complete overview of the benefits Nashville received from playing host to the 2019 NFL draft.
Is The NFL Draft a Big Deal?
First, let’s establish why the NFL draft is such a big deal, and how it is able to bring so much money to the Nashville area. The NFL - which stands for the National Football League - is one of the most powerful sports leagues in the world. The NFL generates just under 15 billion dollars each year, and it has tens of millions of viewers each week it is televised.
Needless to say, each team inside of the NFL has a very large, passionate fan base that is intrigued by the idea of adding new players to their team through the draft of amateur athletes. Many of these fans make their way to the draft - or watch on television - bringing attention and revenue to the host city.
The Economic Impact of The NFL Draft
Last year the host city for the NFL draft was Dallas, and it reported to have generated an additional $125 million. The year before, the draft was held in Philadelphia - which reported a $94 million economic impact. The numbers for the Nashville draft are not yet determined, but there is no doubt it had a positive effect.
So how why such a huge economic impact? The NFL draft attracts visitors from across the country, and the projected visitor spending for the Nashville draft is between $80 million and $100 million, along with other sources of multi-million dollar revenue streams as well.
Exposure Benefits From The NFL Draft
The economic impact of the NFL draft on the city of Nashville is certain to be astounding, but there are other notable benefits the draft brings as well - including exposure benefits. In addition to the numerous visitors, the event brings to Nashville, millions more watch on television, which brings media exposure to the city.
Additionally, Nashville’s own NFL team - the Tennessee Titans - is certain to have added value from the event as it is likely to raise NFL interest around Nashville and brings more excitement around their upcoming season.
The Bottom Line
While traffic may have been slower and getting a dinner reservation in Nashville may have been more difficult for the NFL draft weekend, the fact is the event was highly beneficial to the Nashville area overall. From the positive economic impact to the exposure benefits, it is safe to say that the NFL draft in Nashville this past April was a success.
Annette Masterson is a licensed broker with EXIT Realty Bob Lamb & Associates in Murfreesboro, TN. She has developed one of the most successful real estate teams in Rutherford County, known as Masterson Network, that specializes in new home construction and residential listings and sales throughout Middle Tennessee. You can email Annette at email@example.com or call her at 615-896-5656 (Office) or 615-533-1660 (Cell) for more information.