San Francisco, CA-March 16: Stephen Curry # 30 from the Golden State Warriors warms up before playing Boston Celtics on March 16, 2022 at the Chase Center in San Francisco, Calif. User Note: By downloading or using this photo, you expressly acknowledge and agree to the terms of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2022 NBAE (Photo by Jim Poorten / NBAE via Getty Images)
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The Golden State Warriors go to Hollywood.
The Northern California NBA franchise announced the launch of Golden State Entertainment (GSE) on Monday. The new department will create licensed documentary content, produce music, and host non-basketball live events in the Bay Area.
David Kelly, Chief Legal Officer of the team, oversees the department as Chief Executive Officer.
The Warriors want to leverage the team’s brand outside of sports and “tell the story of the people who shape and drive the culture,” Kelly told CNBC in an interview.
GSE launches in a documentary summarizing the story of two former NBA guards, but couldn’t reveal the name because the deal is still pending.
“It’s a story that needs to be told,” Kelly said of one of the movies.
GSE will also release a new single featuring K-POP star BamBam.Thai but Korean-based musicians Already affiliated with Warriors..
San Francisco, CA-April 7: Thai singer and songwriter BamBam during the half-time of the Golden State Warriors match against the Los Angeles Lakers at the Chase Center on April 7, 2022 in San Francisco, Calif. Preform (Photo by Ezra Show / Getty Images)
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“The Warriors understand that we are already working on storytelling. We are already deeply rooted in culture,” said Kelly, a team salary cap specialist who has worked with the Warriors for over a decade. Said. “How do you tell a story and develop original content that is deeper than before?”
“Content is the king,” he said. “Whether you’re talking about content in the form of games, content in the form of music, or in the form of movies, the ability to generate content that speaks to people is always central.”
Brandon Schneider, president and chief operating officer of the Warriors, told CNBC that the franchise is considering creating a GSE. COVID pandemic We stopped sports in March 2020.
The plan accelerated with the success of the series “The Last Dance,” which introduces Michael Jordan’s Chicago Bulls last season. The documentary aired early in the pandemic, with an average of 6.1 million viewers in the first two episodes of the 10-part series.
“We learned a lot,” Schneider said. “We were all fascinated by it.”
Warriors are ready to use their expertise and access to meet fan demand for similar content. This will be an extension of what the team has done over the years, Schneider added.
However, GSE cannot create a documentary featuring Stephen Curry, the Warriors’ biggest star. At least not yet. According to Kelly, the wording of the NBA’s collective bargaining agreement restricts teams from licensing additional content about active NBA players.
When Curry retires, expect GSE to bring him closer to the opportunity to create content. (Curry is 34 years old and he has no plans to retire soon.)
“We want to tell some Warriors stories. I think we are in a position to tell those stories, but we are not limited to the Warriors stories.” Said Kelly.
According to Kelly, GSE does not go directly to the consumer route when it comes to distribution. Instead, Warriors will consider licensing GSE content to streaming platforms such as: Netflix..
Money from those rights should increase the annual income of the NBA’s leading Warriors.According to the team, the team earned more than $ 400 million in 2021 Forbes..
The Warriors’ $ 5.6 billion valuation is just behind the New York Knicks, the most valuable NBA team with a $ 5.8 billion valuation. Kelly wants the new entertainment division to catapult the Golden State ahead of New York.
Joe Racob, the majority owner of the Warriors, also wants the franchise to become a media and technology organization, Kelly said.
“We are not just a sports team,” he said. “So it’s our duty to wash out what that means.”