Name, Image, & Likeness: Can College Athletes Monetize their Social Media?
Name, Image, and Likeness (NIL) legislation have popped up around the country and many athletes are in line to see how they can monetize their celebrity. One way they are doing this is through social media.
Absolutely! Athletes have engaged in social media for a while now and we're seeing that it's provided a backdrop for those who have a large following to create brand relationships where they market content and get paid for doing so.
Here's the caveat: Athletes should read their contracts to ensure that the marketing of their social media links and pages ends at a particular time. This is important for purposes of the athlete's particular state's NIL statute, but the athlete could miss out on income if they're only paid $500 for 2 posts (for example), but the brand company continues to use the image and links indefinitely.
Athletes should make sure that unique links are created so that they can make money on each sale stemming from their social media marketing.
Want to make sure your contract is sound and gives you everything you thought it did? Join the Athletes Making Moves Course today to understand how to create protection around your brand, properly navigate contracts, and create a team of professionals to keep your interests secured.