Fiscal Year 2022 Report
Below is the annual report for fiscal year 2022 (July 1, 2021 - June 30, 2022).
Royalty Figures
| Historical Gross Income | ||
|---|---|---|
| $19.8 M |
| Gross Income FY 18 | Gross Income FY 21 | Gross Income FY 22 |
|---|---|---|
| $969,521.62 (+210%) | $1,006,743.42 (+3.5%) | $2,035,180.77 (+102%) |
Fiscal Year 2022 Review
Fiscal Year 22 was historic for the University in many ways. We set yet another record year for enrollment, announced we’ll be joining the Big XII Conference, and of course had a tremendous year for the football program culminating with participating in the College Football Playoffs. We are pleased to report we set yet another record in the licensing program as well by more than doubling the previous record from FY21 by generating income of $2,035,181!
This represents a 102% increase in gross royalty income from FY21, and we continue to signi cantly outperform our peer institutions (+45%), and the industry (+37%). For historical perspective, the average increase other universities achieved from their appearance in the College Football Playoffs has been 15% above their previous year. UC’s growth of 102% in FY22 shattered any previous record.
Overall, sales for UC branded merchandise grew by 95% compared to FY21 thanks in part to our strategic brand management efforts, and the increased enthusiasm from our community finally being able to attend games in person again. Our strategic partnerships with Hanesbrands and Logo Brands proved especially important in helping us manage the challenges in the global supply chain, so we could ensure retailers would have o cially licensed merchandise available for Bearcats consumers eager to show their support for UC.
To date, the University’s trademark licensing program has generated more than $19.8 million in gross royalty income from the sale of officially licensed merchandise. These funds are used to support scholarships, so in addition to celebrating their passion for UC with the purchase of Bearcats gear, consumers are also helping provide resources to support students as well.
FY 22 CLC Rankings Against Benchmark Schools
#28 - University of Cincinnati (FY 21 CLC rank #40)
#34 - Univeristy of Minnesota
#37 - Syracuse University
#44 - University of Pittsburgh
#46 - University of Maryland
#52 - Texas Christian University (TCU)
#53 - University of Central Florida (UCF)
#54 - University of Connecticut
#55 - Vanderbilt University
#56 - Georgia Tech University
#65 - Northwestern University
Conference Comparison
The chart below explains how UC compares to other conferences in terms of sales dollars and royalties and where UC would rank within the conference based on royalties.
Royalties: +29%
Sales: +25%
UC rank within conference: 12/14
Royalties: +42%
Sales: +35%
UC rank within conference: 7/14
Royalties: +27%
Sales: +21%
UC rank within conference: 7/10
Royalties: +56%
Sales: +52%
UC rank within conference: 5/12
Royalties: +27%
Sales: +24%
UC rank within conference: 7/14
Artwork & Licensee Review
| Product Designs | Licensee Requests | |
|---|---|---|
| 6,601 | 290 |
| Licensees | Product Categories | Retailers |
|---|---|---|
| 210 | 306 | 501 |
| Top 25 Licensees by Royalties | Top 25 Retailers by Sales | |
|---|---|---|
Champion Under Armour Knights Apparel Cutter & Buck Gear for Sports Columbia Sportswear Homage College Vault by Knights Apparel College Vault by Under Armour - GFS Ross Sportswear Wildcat Retro Brands Top of the World Boxercraft College Concepts Logo Brands L2 Brands College Vault by 19Nine College Vault by Wildcat Retro Brands College Vault by Homefield Game Day Couture Peter Millar Wincraft Rock 'Em Touchstone Merchandise Group Jostens |
Rally House Follett - UC Bookstore DuBois Bookstore Fanatics Direct to Consumer Dick's Sporting Goods Meijer Sam's Club UC Medical Center Costco Target Amazon Homage West Chester Hospital State Street Products Under Armour by Sports Experience Walmart Kohls Cracker Barrel Koch Sporting Goods Campus Colors LIDS Marmaxx JC Penney Dunham's |
| Cincinnati | Peers | CLC Partners (excluding emerging) |
|---|---|---|
| $14.31 | $12.98 | $12.57 |
Legal Review
| Audits | $ Recovered | |
|---|---|---|
| 83 | $2,745 |
| Platform/Website | # Ads Removed | Estimated Revenue Recovered |
|---|---|---|
Amazon Redbubble Etsy eBay TOTAL |
152 143 92 408 84 19 898 |
$76,000 $71,500 $2,085 $11,199 $2,788 $488 $164,060 |
Sponsorship Review
| Sponsorsihp Requests | NIL Branding Requests | |
|---|---|---|
| 28 | 21 |
| Approved | Pending | Denied |
|---|---|---|
| 6 | 1 | 0 |
Marketing Review
| # of Campaigns | Impressions | Link Clicks |
|---|---|---|
| 9 | 803,202 | 3,682 |
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- Ongoing brand awareness campaign to share the importance of buying licensed merchandise and where to buy licensed merchandise.
- Monthly posts on University social channels linking to retailers. 3-4 posts/year boosted.
- Influencers supported the campaign by sharing the tag #BearcatsVerified.
- Annual, national campaign from CLC celebrating back to school and the start o football season.
- FY 22 theme was “That Feeling When” emphasizing the emotions of being back on campus and in the stands.
- Content posted on University and Athletics social media channels from August 15, 2021 until September 3, 2021 (College Colors Day).
- Influencers supported the campaign by sharing social posts and showing off their college colors on their social channels on September 3, 2021.
- Annual campaign that took place from December 1, 2021 – December 12, 2021.
- Content was posted on University social media channels and each post tagged the licensee and linked to where the product could be purchased.
- Influencers were gifted a di erent item from each day and were asked to wait until that day to open up their product and share their opening on social media.
- Many influencers outdid themselves by creating TikToks, Instagram Reels, and lengthy Instagram Stories capturing the unboxing of that day’s giveaway.
- Annual campaign on May 13 celebrating Cincinnati’s area code.
- Content was posted on University’s social media channels showcasing 513 Champion t-shirt designs and where they could be purchased.
- Influencers were gifted one 513 Champion t-shirt and shared it on their social sites on May 13, 2022.
- Annual campaign from Top of the World that encouraged high school seniors to “declare” the college or university they are attending in the fall by May 1 for chances to win scholarships and Top of the World products.
- Content was posted on University social media channels from April 18, 2022 until May 1, 2022 and featured Top of the World headwear.
- UC finished 5th in the national rankings of the number of declarations behind Florida State, Kennesaw State, Oklahoma, and Alabama.
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- Social posts to celebrate Boldly Bearcat coming back and becoming a year-round flavor.
- Two influencers were able to go on a tour at Graeter’s and collect photos/videos for content.
- UC’s new collection with Homefield was launched on Saturday, January 22. Homefield created buzz and excitement on social media leading up to the launch.
- Homefield received over 3.2 million impressions on their Twitter alone from January 17 to January 23. And $105,000 was sold from noon on January 22 to midnight on January 23.
- Influencers were sent items from the UC/Homefield collection and were asked to wait until January 22 to unveil the items on their social pages.
- Homefield praised the work we did with the influencers stating “We were absolutely blown away by the content your social channels and your influencers put out over the weekend.”
- Campaign with Logo Brands encouraging college seniors to post their favorite memories at UC for a chance to win a Logo Brands prize pack.
- Content was posted on University social media channels from April 20, 2022 until April 30, 2022 and featured links to where the Logo Brands prizes could be purchased.
- Kyle Cavan gifted each influencer their own piece of UC themed jewelry.
- Influencers then shared their pieces on their social pages with links to the piece and the Kyle Cavan/UC collection.
- A short campaign featuring a Kyle Cavan gift card giveaway to celebrate Mother’s Day.
- Followers were asked to comment on a Facebook post for a chance to win, with link to the collection included in the post.
Fiscal Year 2022 Wrap-Up
Despite significant challenges in the global supply chain from the pandemic continuing to place pressure on licensees and retailers, we had a historic year and shattered records. There are still challenges ahead, but also opportunity for continued growth and a very bright future for the University of Cincinnati. The strength of UC’s brand along with our brand management tactics and strategic partnerships will continue to provide us with stability to withstand challenges, whether they come from instability in the global supply chain, inflation, infringement activities, or other unforeseen challenges impacting the overall economy/retail market.
We have a mindset to innovate and challenge ourselves to stretch limits and explore ways to generate incremental income and maximize brand visibility for UC. In addition to managing one of the best-in-class licensing programs in the industry, we are looking forward to further developing brand engagement efforts through corporate marketing/sponsorship opportunities. We are among the leading institutions exploring ways to generate incremental income by collaborating with corporate partners interested in engaging with university brands.
Increased visibility creates opportunities and challenges with more outside organizations looking to benefit from being affiliated with the UC’s Brand. It is important to demonstrate strong alignment across the institution to be disciplined and maintain consistency with use of the Brand. This will help as we explore ways to maximize potential from engaging with outside organizations wanting to be affiliated with UC, while also strengthening our position to defend against any unauthorized use of UC’s Brand. We are excited about our team and our ability to manage the business, and collaborate with colleagues across the university to represent this fine institution to meet whatever challenges may lie ahead and maximize our potential.
The financial impact from COVID-19 and the challenges it created throughout the global supply chain continues to have a significant impact on licensees, retailers, and consumers. While difficult, we believe these challenges provided us with unique opportunities to think creatively, innovate, take chances, and embrace change to address the challenges of tomorrow. The value of a Brand lies within the strength of its community, and we are fortunate to have a strong foundation that has withstood the test of time and is well positioned to deliver strong results into the future.