Vietnamese athletes earn money from their personal brands: A 'gold mine'.

If athletes know how to build and market their personal brand effectively, they can generate even more substantial and stable income than their competition prize money.

The story of Vietnamese athletes struggling to make a living after retirement has often saddened fans. After their competitive careers, not everyone can become a coach or manager to continue working in the field they dedicated their youth to. However, with the rapid development of social media, athletes can now find new sources of income to improve their lives.

K HO BÁU BÉ LẠN QUÊN

In 2018, when the Vietnam U23 team returned after their achievement of winning the runner-up title at the U23 Asian Championship (which fans later remembered as the Changzhou miracle), social media was abuzz with information that star players, as well as coach Park Hang-seo, received fees ranging from tens of millions to hundreds of millions of VND to post information about brands and businesses on social media, attend events, or star in commercials…

Xuan Truong is seeking 7 billion VND in funding for IRC (a sports injury rehabilitation center he built with his colleagues).

Photo: IRC

The phenomenon of Vietnamese footballers and athletes in general partnering with brands and using their personal image for business purposes is nothing new. More than two decades ago, the famous striker Le Huynh Duc collaborated with leading brands like Pepsi and Philips. Subsequently, many younger generations followed in his footsteps, transitioning from the football field to the commercial arena for a legitimate purpose: to earn additional income from the image they have built with their blood, sweat, and tireless efforts.

However, these are purely isolated collaborations. Vietnam has not yet promoted the sports economy , or in other words, has not been able to transform sports into an entertainment "machine" capable of generating revenue and building brands systematically based on the reputation of athletes. Meanwhile, in the world, it has become very common for athletes to build and market their personal brands. With their significant influence and large fan base across social media platforms, athletes are often targeted as top priority for brands, businesses, and companies to collaborate with in order to spread their image to the public.

HOW DO WORLD-CLASS ATHLETES EARN MONEY FROM ADVERTISING?

According to The Sun , Cristiano Ronaldo earns $3.3 million (approximately 86.7 billion VND) per sponsored Instagram post, followed by Lionel Messi with $2.6 million (approximately 67.9 billion VND) per post. Sports stars are also paid from hundreds of thousands to millions of dollars for each branded post advertising products on social media.

Ronaldo earns a lot of money from his personal brand.

Photo: Screenshot

Why are businesses willing to spend heavily on athletes? Because sports stars (along with entertainment stars) always have influence, reach, and a loyal fan base. A single click to post information about Ronaldo, Messi, Stephen Curry, LeBron James, or Tiger Woods can send the whole world into a frenzy, reaching tens of millions, even billions of people (Ronaldo, for example, has over 1 billion followers on social media platforms).

According to Forbes , Ronaldo is expected to earn $275 million annually, with $50 million of that coming from social media alone. Messi's income is estimated at $135 million, with $75 million from commercial deals and advertising. For top stars, revenue from personal branding consistently accounts for 40-50% of their total income. These are win-win situations: the athlete earns money, while the brand can leverage the athlete's superstar image for effective marketing, increased sales, market expansion, and a lasting impression on fans.

Vietnamese sports join the fray.

Why has building a personal brand image been relatively unfamiliar to Vietnamese sports for so long? Because most Vietnamese athletes tend to be reserved, focusing only on training and competition. They are taught specialized skills to achieve results, so not many athletes are articulate, good communicators, or open with the media and fans.

Focusing on one's specialization is good, as it's the only path to improving one's skills and achieving success. However, neglecting to seek other sources of income through legitimate efforts would be a great regret for an athlete. After all, income from competition only ensures a relatively stable life for an athlete for about 10-12 years of their career. When an athlete retires, that source of income will no longer exist.

If Vietnamese athletes can leverage their image for direct business (becoming brand ambassadors, collaborating on advertising) or indirect business (using their personal brand for their own ventures), they will have an additional source of income.

Luong Xuan Truong is a prime example. The midfielder, born in 1995, leveraged his fame to develop the International Sports Injury Rehabilitation Center (IRC) brand even while still playing, with the goal of supporting players in treating and recovering from injuries. Badminton stars like Nguyen Thuy Linh and Le Duc Phat have also made strategic partnerships with major brands to spread their image and generate additional income to support their competitions. Similarly, Nguyen Tien Linh, Que Ngoc Hai, Nguyen Quang Hai (football), Ly Hoang Nam (tennis), Duong Thien Quang (pickleball)... are all athletes who have successfully developed their brands, partnering with major labels.

However, to make the economics of sports and the branding of Vietnamese athletes even more effective, focusing on a few individuals is not enough. It's a long process requiring a systematic strategy from the entire sports sector. (to be continued)

Source: https://thanhnien.vn/vdv-viet-nam-kiem-tien-tu-thuong-hieu-ca-nhan-mo-vang-185250713211801543.htm