A Stadium By Another Other Name

So long, Wells Fargo Center.

The South Philly arena, home to the Flyers, 76ers and Wings, plus concerts and special events, is getting a new name.

Starting September 1, the Wells Fargo Center will be known as the Xfinity Mobile Arena.

This will be the first time the space isn’t named after a bank. It’s been the Wells Fargo Center since 2010.

The new name will run through 2031, when a new arena will be built at the sports complex.

Banking on Brand Exposure

Even if your company isn’t going to sponsor an arena any time soon, the new name offers a few lessons in branding – starting with being patient about the payoff.

Reactions to the new name have been predictably mixed.

Humans are built to resist change, even when that change has next to no tangible impact on their lives.

So why would any brand take the risk?

For starters, these kinds of deals often involve a lot more than just putting your name on the building. Companies get other advantages and benefits, sometimes including exclusive rights to sell their products. The tickets and luxury suites matter, too.

Initial pushback or not, the brand exposure can be a game-changer. It’s a way to boost awareness with sports fans and the local community. It sends a message to employees and prospects that the company is invested in the community – and a steady place to work. It’s also a way to keep a competitor from snatching up the opportunity.

Comcast obviously has a strong foothold in Philly. But for its relatively new Xfinity Mobile brand, the sponsorship is a chance for widespread exposure throughout the region.

More often than not, that negative gut reaction fades away. Case in point: Even the most beloved/iconic stadiums were named in connection to a brand. That includes Fenway Park and Wrigley Field.