If you’re weary of discussions regarding NBA ratings, you might want to skip the 2025 Finals showcase, now featuring the Oklahoma City Thunder and Indiana Pacers. The Pacers secured their spot by defeating the New York Knicks 125-108 in Game 6 of the Eastern Conference finals on Saturday.

Conversely, this matchup sparks interest in how ratings debate applies to “small-market” teams and emerging stars. How compelling are players like Shai Gilgeous-Alexander and Tyrese Haliburton?

We’re about to find out as this marks the inaugural NBA Finals held exclusively between teams from markets ranked outside the top 20, as per Nielsen ratings that assess media audience size, notably on TV. Currently, Indianapolis sits at No. 25, while Oklahoma City ranks at No. 47. The last reminiscent encounter of small-market finalists occurred in 1971 when the Milwaukee Bucks defeated the Baltimore Bullets in a sweep.

Back then, the NBA consisted of merely 17 teams, and television coverage was drastically different compared to today. Comparing to the present century, only contests close to an all-small-market Finals include Denver-Miami (2023), San Antonio-Miami (2013 and 2014), and San Antonio-Detroit (2004).

San Antonio is the only bottom-10 market in those matchups, with Detroit, Denver, and Miami falling into rankings 14th, 15th, and 17th. Indiana and Oklahoma City truly embody the essence of small-market teams, and as the NBA endeavors to enhance equity in championship chances—fostering a more level playing field—ratings from this series will be telling of audience interest.

The Thunder boast an exhilarating potential as one of the most formidable teams, driven by stories that include their relocation from Seattle and a profound modern-era rebuild orchestrated by Sam Presti. Meanwhile, the Pacers aim to make a Finals return for the first time in over 25 years by conquering the Knicks, which reignites one of the most storied rivalries from the 1990s.

Their gameplay is dynamic and infectious, pivoting not on a dominant point guard but rather on smooth player and ball movement, aiming to ignite enthusiasm among casual fans. Betting on the quality of basketball over star power could prove to be an astute decision with the Pacers in play.

Narratives matter too, especially underdog tales. Between both teams, only one starter was drafted in the top five: OKC’s Chet Holmgren, who went No. 2 in 2022. Gilgeous-Alexander was the 11th pick in 2018, and Haliburton the 12th in 2020. Each joined their respective teams through trades, diverging from the initial expectations of becoming franchise cornerstones.

For OKC, Jalen Williams emerged unnoticed from Santa Clara, while Indiana’s Pascal Siakam has long dispelled doubts of being a premier option on a high-caliber team. His playoff excellence has been sensational, combating skepticism concerning his impact in high-stakes scenarios.

Meanwhile, the Pacers thrive with Aaron Nesmith, who was let go by the Boston Celtics only to evolve into a pivotal shooter and defensive asset. Andrew Nembhard and T.J. McConnell represent the classics of underdog success—if McConnell were a football player, he’d be the plucky Rudy.

There are plentiful narratives to examine, ensuring an engaging series even if OKC’s fierce defense frustrates Pacers fans used to high-scoring offenses. Ultimately, ratings hinge significantly on the casual viewers who tune in for the event’s grandeur. Are the Pacers and Thunder attractive enough for that demographic? This series stands as a critical examination for the NBA as it transitions toward an era characterized by increased competition across markets.