Globetrotters Sold for Big Money, Showing Value of Family Entertainment
Trust me when I tell you that good family entertainment is almost a sure bet. It’s scarce, and parents are dying for you to provide it to them. It’s hard to keep young children entertained if you’re unwilling to sit them in front of a TV or hand them an iPad. But when someone designs good (or if I’m honest, even just decent) live entertainment for families and does a reasonable job marketing it, it sells.
That’s why it doesn’t surprise me to see the Harlem Globetrotters get sold for between $50 and $100 million. This brand is old, and it was nearly dead 10 years ago but the live product has been improved gradually, and they’ve worked relentlessly to get out there and reach a new generation of fans. They may not be celebrities who people know by name like they were in the ’70s (Meadowlark Lemon, Curly Neal), but kids still love the Globetrotters.