Kevin Harvick’s Investment Portfolio, DANICA Premiers Tonight

Kevin Harvick won the Monster Energy (MNST) NASCAR Cup Series race at Texas Motors Speedway last weekend, which gives him a spot in the “Championship Four”; the 4 remaining drivers who will race for the title at Homestead-Miami Speedway on November 19th. JWS got the exclusive opportunity to sit down Kevin to discuss his investment portfolio, sponsorship partners and sports marketing agency.

JWS: How important is it to you to have sponsors that you would invest in?

Kevin Harvick: The companies that you believe in and invest in, are the companies that you want on your car. I can tell you Exxon Mobil (XOM) is in my portfolio.

JWS: How have you managed to maintain long-term partnerships with several of your sponsors?    

Kevin Harvick: We’ve been fortunate through the years to develop what we have with the Busch Brand (BUD), Jimmy John’s, who’s been with us since 2009 and Textron (TXT), who started with us back in 2007. We’ve kind of found the niche with each of those companies in terms of what they like to do, how they like to entertain and where they like go.

JWS: Does having KHI Management (his sports marketing agency) help in terms of signing NASCAR sponsorship deals?

Kevin Harvick: The thing that makes us unique and different is that we have a sports agency that represents 2 PGA golfers, Donald Cerrone (UFC) and Harrison Burton (motocross). We’ve tried to make ourselves more diverse so that when we are trying to cut a deal for a NASCAR sponsorship, we have a family of assets that we can blend in; golf tournaments, UFC fights, etc.

JWS: How closely do you follow the market?

Kevin Harvick: I wake up with Maria (Bartiromo). I like to understand what is happening in the world. I spend a lot of time paying attention to it because I’m intrigued by it.  

Howie Long-Short: Metro-Goldwyn-Mayer (MGM) acquired Epix, buying out Viacom (VIAB) and Lionsgate (LGF.A) back in April for $1.031 billion. The company has underperformed over the last 6 months (+2.8% compared with industry-wide growth of 15.6%), and analysts are projecting Q3 earnings ($.33/share) that would be a 43% YOY decline. The company will report later today.

Fan Marino: If you enjoy sports documentaries, check out DANICA; premiering this evening at 8p EST on Epix (or for free at epix.com). The film, directed by broadcasting pioneer Hannah Storm, focus on Danica Patrick; the most successful woman in the history of professional motorsports. It’s a rare, candid look at Danica as a competitor eagerly preparing for her next race; a woman confidently considering when she wants to start a family; and a budding mogul carefully considering thinking about her next steps.

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MAYWEATHER/MCGREGOR CONTRIBUTES TO THE WORST BOX OFFICE WEEKEND IN 15 YEARS

While August has been a predictably slow month for movie theatres, not since 2001 have U.S. weekend box office revenues been this low; with revenues totaling just $65 million. Lionsgate’s (LGF.A) “Hitman’s Bodyguard” finished #1, earning a mere $10.1 million. While hurricane Harvey may have contributed to the low figures coming out of Texas, it was Saturday night’s Mayweather/McGregor fight that likely had the bigger impact. The fight generated more than $600 million in revenue, one of the highest grossing PPV events in history. Fathom Events (AMC, CNK, RGC) which showed the fight in theatres across the country, had a big night. The one-night closed-circuit event would have placed in the Top 10 for weekend movies, earning $2.6 million.

U.S. Box Office Had its Worst Weekend in More Than 15 Years

Howie Long-Short: $65 million equates to roughly 7 million tickets sold. You must reach all the way back to WWII to match the low attendance figures. Theatres had more viewers in the weekends following the Kennedy assassination and 9/11.

Fan Marino: Had the fight even through 6 rounds. Far from the sham many were predicting.