Today, the Sacramento Kings announced they were awarded the NBA Team of the Year Award and NBA Innovation Award for the Kings Victory Beam.
The NBA Team of the Year Award recognizes excellence in team business performance across both key revenue drivers and operational focus areas such as people and culture, community impact, innovative thinking, and data-driven results, according to a team press release announcing the honor. The NBA Team Innovation Award recognizes excellence in creating and executing unique ideas that have generated a positive impact on the team’s business.
“We are tremendously proud to be recognized with these distinguished honors as we have further ignited our fanbase, continued to build international excitement and revolutionized our business,” said Kings Owner and Chairman Vivek Ranadivé. “On behalf of my partners, I want to thank Matina Kolokotronis and John Rinehart for their leadership in fulfilling our vision to make the Kings a global brand that positively impacts our community and makes the world a better place. I want to further express my gratitude to all of the Sacramento Kings team members who work tirelessly every day to make these ideals a reality. We have the best fans in the world, and we are committed to working hard to bring them the best we can, which they so richly deserve.”
Highlights from the Kings business results during the 2022-2023 season include:
· Nearly 100% Season Ticket Renewal
· Ranked #2 among all NBA teams in ticket revenue growth
· Added over 20 new Corporate Partners
· Ranked #1 in fan in-game experience in the NBA
· Game viewership up 200%+ and Postgame Show up 177%
· Most-watched 1st Round Playoff Game in 24 years
· ABC’s largest ever audience for a non-NBA Finals game
· Launched a new e-commerce and renovated in-arena team store that led to a 35% increase in merchandises sales
· Hosted more than 100 community events impacting nearly 100,000 people
In addition, the team introduced the Sacramento Kings Victory Beam which has solidified Golden 1 Center as a communal fireplace, achieving Kings Owner and Chairman Vivek Ranadivé’s original goal for his investment in Sacramento, creating a gathering place, a new town square to celebrate, worship and come together. Fans congregate outside the arena following a win to celebrate and take photos with the glow of the beam. Deemed a “Place of Worship” on Google Maps, it is a pillar of fan engagement and community building.
The beam has become an international phenomenon that has magnified the team’s performance, shining a light on the tremendous 2022-23 season in which the Kings broke their playoffs drought and secured the home-court advantage to start the 2023 NBA Playoffs. The beam is a physical manifestation of what makes Sacramento Proud, symbolizing hope for loyal Kings fans as they all joined in camaraderie and celebrated the playoffs appearance.