Fanatics potentate Michael Rubin has acknowledged that the original 2024 Fanatics Fest was a marketing “investment” that lost $15 million in its initial year. Version 3.0, which opens Thursday at Manhattan’s Javits Center, should get into the black, according to Lance Fensterman, the former Comic-Con show manager that Fanatics hired three years ago as CEO of Fanatics Events.
“I’d say that [profit] is probable,” Fensterman said.
Helping to swell the coffers this year: adding another day to what was a three-day event with a surfeit of non-endemic sponsors, including AmEx, AT&T, Dick’s Sporting Goods, Starbucks and PayPal. Combining the event with the World Cup final in nearby New Jersey has also been a boon.
Attendance at Fanatics Fest’s first two years grew from 70,000 to 120,000. This year, Fensterman is confident it will exceed 200,000 people, and last week, he said ticket sales were doubling last year’s pace.
Also keeping with the growth theme:
- Gross square footage is now up around 25% to a million.
- Content stages increased from three to seven.
- The collection of celebrity elite athletes, entertainers and streamers has swelled from 275 to more than 500.
“This year was more about ‘How do we scale it?’” Fensterman said. “And our answer was to co-locate with the world’s biggest sports event.”
The hope is to turn the fourth and final day of Fanatics Fest into a viewing party of sorts for Sunday’s World Cup title match. The last press conference for the World Cup finalists will be at the Javits Center on Friday, and the championship trophy will be part of a “FIFA Stadium” activation.
Breaking even or turning a modest profit is commendable, certainly. Fensterman said softer metrics remain the paramount KPIs. “Earned media and whether we are driving the conversation in sports culture across a weekend that will obviously be World Cup-heavy is important,” Fensterman said.
One of the original concepts around the launch of Fanatics Fest was eventually exporting smaller versions to additional cities. Those ambitious plans have faded, at least for now.
Explained Fensterman: “Now, the focus is, ‘How big can we go in New York City?’ Can we expand it to other venues here? There’s a real opportunity to build what could be a whole week of fandom in New York City before we look at other cities. ... Our ambition is to make this the weekend of the year for sports fans.”