Indian sports sponsorship crosses INR 14,000 crores in 2022: GroupM ESP

According to GroupM ESP's 'Sporting Nation' report, the Indian sports industry crossed INR 14,000 crores in 2022, showcasing a growth of 49% over 2021. In 2021, the Indian sports industry accounted for spends of INR 9,500 crores. 

 

The growth came about due to the rise in the number of IPL matches, the addition of two new IPL teams, the ICC T20 World Cup, Asia Cup, and FIFA World Cup, and the return of emerging sports events and tournaments like PKL, marquee marathons, Maharashtra Open, and Commonwealth Games 2022.

 

TV continues to have the largest share of the adex pie, seeing a growth of 9% in 2022 over 2021, with overall ad spends of INR 5,506 crores. The growth of digital spends was 112% in 2022 over 2021, accounting for an overall ad spends of INR 2,045. 

 

 

Cricket retains its spot as the most popular sport, accounting for 85% of the total sports adex. In 2021, this was at 88%.

 

Sports celebrity endorsement witnessed a 20% increase with a total value of INR 729 crores. Of the 505 brand endorsement deals, 429 were cricket sponsorships. 

 

The top sponsorship deals last year were Virat Kohli, MS Dhoni, Rohit Sharma, Sachin Tendulkar, Neeraj Chopra, and PV Sindhu. 

 

With respect to searches for athletes on social media, Kohli led the table, followed by Rohit Sharma and MS Dhoni. Smriti Mandhana was the highest searched female cricketer. From sports outside of cricket, Neeraj Chopra led the table.

 

 

The report also stated that brands are expected to approach spending on sporting events differently with the rise of OTT and the sports industry is one of the better-performing sectors in the economy with a 14% CAGR. 

 

Prasanth Kumar, CEO - GroupM South Asia, said, “The Indian sports ecosystem is experiencing a revolutionary transformation, with athletes becoming influential role models for the youth and sports sponsorships gathering immense momentum. In this scenario, brands hold tremendous potential to tap into the passion and loyalty of Indian sports fans. Despite facing unprecedented pandemic challenges, the exceptional performance of the sports industry in 2022 reflects its resilience and unwavering commitment. As we move forward, technology will play an increasingly pivotal role in content management and fan engagement, while opening new and exciting opportunities in sports. Live sports will continue to be highly coveted as monetisable properties, making it a promising sector for investment."

 

Vinit Karnik, head - sports, esports and entertainment, GroupM South Asia, said, "The Sporting Nation report illuminates the explosive growth of sports sponsorship in India, a testament to the nation's fervent passion for sports and the industry's enormous potential for brands. With the rise of new sports and leagues alongside the unparalleled popularity of cricket, brands have unprecedented opportunities to connect with fans through sports. The report also highlights the burgeoning trend of sports celebrity endorsement, with cricketing stars blazing the trail. Brands can leverage these insights to tap into the power of sports sponsorship and accomplish their marketing goals with unmatched effectiveness."