Companies are expected to spend £46bn ($35bn) on global sports sponsorship during 2019, a 4% increase, but agency Two Circles said leagues, teams and tournaments are under-exploiting the deals by as much as £14bn. It said rights-holders were selling sponsorships the same way they did 20 years ago and were not fully using the power of digital marketing. Two Circles also said deals should not just rely on the usual backers such as carmakers, financial services companies, gambling firms and airlines. It forecast sponsorship spending would rise by 6% YoY between now and 2024, reaching £48bn.
Companies are expected to spend £35bn ($46bn) on global sports sponsorship during 2019, a 4% increase, but agency Two Circles said leagues, teams and tournaments are under-exploiting the deals by as much as £14bn. It said rights-holders were selling sponsorships the same way they did 20 years ago and were not fully using the power of digital marketing. Two Circles also said deals should not just rely on the usual backers such as carmakers, financial services companies, gambling firms and airlines. It forecast sponsorship spending would rise by 6% YoY between now and 2024, reaching £48bn.