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As live attendance of sporting events begins to resume in 2021, the Company has entered into an agreement in which TAAT™ will sponsor PBR bull riding events in the United States. With more than three million attendees per year and millions of viewers of PBR events broadcast globally, the Company anticipates that this sponsorship can be an integral part of its marketing strategy to cultivate awareness among smokers aged 21+. PBR sponsorships have proven to be extremely effective, with 54% of PBR fans being more likely to recognize a sponsor brand than the average U.S. adult, and 12% of fans having made a purchase from a company specifically because it was a PBR sponsor.
LAS VEGAS and VANCOUVER, British Columbia, April 21, 2021 (GLOBE NEWSWIRE) — TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that it has finalized a sponsorship agreement with Professional Bull Riders, LLC (“PBR”) in which the TAAT™ logo and related messaging will be displayed among other PBR sponsor entities at live bull riding circuit events in the United States starting in 2021, which are also broadcast globally through various media channels. PBR hosts over 300 events each year including Unleash the Beast, which is televised nationally on U.S. channels, as well as several networks around the world in 50 nations and territories1. Major sponsors of PBR events include energy drink brand Monster, iconic workwear label Wrangler, and Caterpillar, the world’s largest construction equipment manufacturer2.
The Company’s sponsorship agreement with PBR was executed on Tuesday, April 13, 2021 for the remaining duration of the 2021 season as well as the total duration of the 2022 and 2023 seasons (up to and including the final sponsored event performance of 2023), and provides for several sponsorship benefits which include but are not limited to the following (subject to availability and restrictions at each venue, as well as local regulations for each venue):
- Exclusivity in the Combustible Smoke Products category
- Arena marketing placements (e.g., digital signage, in-arena commercials, concourse display)
- In-arena sweepstakes promotion (TAAT™ Cowboy Cool Sweepstakes) once per contract year
- TAAT™ branded “smoke zone”, a designated smoking section at select event venues
- In-market sponsorships (e.g., Cowboy Cool Tailgate, PBR Afterparty)
- Official partnership with PBR’s PBRewards program, with in-arena and digital support
- Social media and digital elements (e.g., sponsorship of original content episodes by PBR, banner ads on the PBR.com website)
Sponsorship of PBR has provided substantial value for many lifestyle-driven brand names that desire visibility among the highly engaged audience of PBR events. For instance, 54% of PBR fans were more likely to recognize a sponsor than the average adult in the United States, and 12% of fans made a purchase from a company specifically because it was a PBR sponsor3. Further substantiating the value of PBR sponsorships in the tobacco industry, when the parent company of chewing tobacco brand Copenhagen was limited to one sponsorship per year in the United States, PBR was the firm’s sponsorship of choice in 20084.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1d4759e7-d9c5-40b7-a51a-f6d4173d600c
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“We are thrilled to enter into this sponsorship agreement with PBR,” said TAAT™ Chief Executive Officer Setti Coscarella. “The strong record of PBR’s sponsorship renewal speaks to its success in delivering on the brand awareness metrics sought by its sponsors. We believe that being a sponsor of PBR can provide excellent visibility for our brand among smokers aged 21+ who follow the league and its events, and we look forward to seeing how this can help us build upon our existing brand equity as we begin efforts to scale our product rollout in the United States.”
Billed as “America’s original extreme sport1”, bull riding became popular in the southwestern United States during the mid-1800s as an adaptation of ranch and horsemanship skill competitions held throughout Mexico starting in the 16th century5. PBR was formed in 1992 by an entrepreneurial group of 20 bull riders and today attracts an annual total of more than three million fans in attendance of its live events. Over 500 bull riders from the United States, Canada, Mexico, Brazil, and Australia currently hold PBR memberships and participate in events which lead to the annual PBR World Finals, where more than USD $10 million in prize money is at stake each year1. The 2021 PBR World Finals is to be held at the T-Mobile Arena near the Las Vegas strip from November 3 through November 7, where the TAAT™ brand will be made visible to a nightly live audience of up to 20,000 fans6.
TAAT™ Chief Revenue Officer Tim Corkum commented, “Introducing a new brand in the cigarette category begins with understanding who the target consumer is and what needs they have that aren’t being met by other brands. The typical consumer journey for any product begins with brand awareness, which needs to be accomplished through consistent and repeated exposure to the TAAT™ brand in places to which their attention is regularly drawn. Our current digital advertising efforts provide us a relatively low-cost way to reach smokers aged 21+ through channels on which they spend much of their time learning about new products. We have not limited ourselves to online promotion, as the TAAT™ brand has been advertised on gas pump video display screens and in-store point of sale materials. We have also instituted retailer education programs where the majority of cigarettes are sold, and as a result the TAAT™ brand is presented to smokers aged 21+ repeatedly during their purchase decision moments that happen several times per week. This PBR sponsorship now evolves our ability to incorporate more lifestyle elements that can connect the TAAT™ brand more intimately with our consumer base and expose our brand to even more smokers who will associate TAAT™ as a brand which complements their sporting passion. More important than simply branding and signage, TAAT™ will be able to incorporate experiential marketing, product trials, and user interaction that will allow us to directly reinforce the TAAT™ message with a large fan base of smokers aged 21+ in several markets across the United States in which PBR events are held annually.”
3 – https://www.forbes.com/sites/jasonbelzer/2016/01/21/professional-bull-riders-pbr-has-created-the-most-authentic-sponsorship-platform-in-sports/?sh=125cfa6c74cc
4 – https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2791245/
5 – https://www.americancowboy.com/people/history-bull-riding
6 – https://www.t-mobilearena.com/arena-information/quick-facts
On behalf of the Board of Directors of the Company,
TAAT™ LIFESTYLE & WELLNESS LTD.
Setti Coscarella, CEO and Director
For further information, please contact:
TAAT™ Investor Relations
THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.
About TAAT™ Lifestyle & Wellness Ltd.
The Company has developed TAAT™, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original”, “Smooth”, and “Menthol” varieties. TAAT™’s base material is Beyond Tobacco™, a proprietary blend which undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with “Big Tobacco” pedigree, TAAT™ was launched first in the United States in Q4 2020 as the Company seeks to position itself in the $814 billion1 global tobacco industry.
For more information, please visit http://taatglobal.com.
1 British American Tobacco – The Global Market
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the potential launch of Beyond Tobacco™, in addition to the following: Potential outcomes from the Company’s sponsorship of PBR events from 2021 through 2023, including the continued occurrence of such events in light of the ongoing COVID-19 pandemic. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the tobacco markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
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