NIL Industry Center
Welcome to the hub of resources, content, and guidance for the NIL industry!
In just a few years, we've already seen the NIL industry evolve significantly. As the overall landscape becomes more clear, NIL service providers will continue to adapt their business models to best match the needs of stakeholders.
NIL Network Founder, Michelle Meyer, has been helping startups understand the NIL landscape and build scalable strategies since NIL went into effect on July 1, 2021.
NIL AGENCY POPUP AND POP DOWN
Since NIL went into effect, NIL agencies have been the most prevalent startup with over 200 tracked by NIL Network. It makes sense - at this time, starting an NIL agency has the lowest barrier to entry of any sub-industry of NIL. However, after only a year, between 20-25% of NIL agency startups had already shut down. As discussed below, it's difficult to create a sustainable NIL representation business by utilizing the traditional sports agency model. Successful NIL agency startups have separated themselves by using innovative approaches.
SHIFTING BUSINESS MODELS
Originally, most NIL startups went directly to athletes to ask them to join their platform and/or to market their services to. These companies have since had a few realizations: 1) If a top goal is users, approaching individuals is not an efficient way to scale. 2) College athletes are incredibly busy and are weary to trust cold outreach. 3) College athletes, for the most part, are not going to pay for anything. Many companies are now adopting new B2B strategies and are instead selling their services to universities and collectives.
SUPPORT FOR COLLECTIVES
Many collectives were launched quickly and without a comprehensive business plan. They had initial success with raising money through donations but are looking for more sustainable streams of revenue to meet their fundraising goals.
ACTIVE ATHLETE EDUCATION
The current standard of NIL education - lecture style seminars and on demand course content - is not resonating with current college athletes. Instead, NIL education should take a hands-on learning approach, incorporate tools, and teach the "how".
INNOVATIVE APPROACHES TO REPRESENTATION
The traditional sports agency model to athlete representation only works well for the top .1% of college athletes. However, there are countless opportunities to approach NIL representation in a completely novel way. Time to get creative!
Schedule a meeting to get a better understanding of the NIL landscape, how you or your business fit within the NIL ecosystem, what to expect from working with college athletes, and more!
Do a deep dive into NIL by joining our interactive half-day virtual seminar on the history, current challenges, and projections for where we're going in the NIL era of college sports.
Join the NIL Verified Network to access continued education and support, marketing benefits, and networking opportunities. Before joining, businesses are required to become NIL Verified™.
