Sports marketing spends grew 92% in the 2008-2013 period, as per a report from GroupM ESP, the sports and entertainment arm of marketing services major Group M and sports business information resource SportzPower.
Advertising spends in Indian sport doubled from Rs 2,139 crore in 2008 to Rs 4,110 crore by end-2013, according to what is the inaugural report on sports sponsorship in the country.
On the future of sports marketing in India, CVL Srinivas, CEO, Group M, South Asia, said, "This decade will be transformational for sports in India with a spectator base of over a billion people, a dozen sports television channels beaming content round the clock and a rapidly growing list of keen corporates and brands waiting to invest in cricket and other alternate sports. The next few years marketing investment in sports will no longer be peripheral, and it will be paralleled with that of entertainment and mainstream cinema."
The report delves into sponsorships from four angles: on-ground, team sponsorships, athlete management and media spends.
Focusing on the key developments expected in 2014, Vinit Karnik, national director, sports & live events, GroupM ESP, said, "Even though the IPL is off to a rough start this year, in the long run, accountability, better corporate governance, more transparency, are all good for not just the IPL, but the BCCI too. The successful launch of the hockey and badminton leagues has set the stage for an action-packed 2014 as far as franchise-based leagues are concerned in cricket, football, hockey, badminton, tennis, wrestling and kabaddi."
According to Thomas Abraham, co-founder, SportzPower, Indian sports TV broadcast was, is, and will continue to be dominated by cricket for the foreseeable future, contributing 80 to 85% to the total television sports media revenues. "However, other sports are also gaining prominence, especially Football, though interest remains predominantly for international leagues/tournaments," he said.
By arrangement with MxMIndia.com