GroupM ESP just came out with the 10th edition of the Sporting Nation Report 2023, which is about sports sponsorship in India. The report shows that the sports industry in India is growing quickly, and that by 2022, people will have spent more than INR 14,000 crore on sports. According to Sporting Nation 2023, India’s sports sponsorship industry is expanding at an unheard-of rate, with spending on teams, franchises, and venues increasing by a combined INR 3021 crore, or 105%, from 2021 to 2023. The ICC T20 World Cup, Asia Cup, FIFA World Cup, and the return of emerging sports events and tournaments like the PKL, marquee marathons, Maharashtra Open, and Commonwealth Games 2022 are all cited in the report as contributing factors to the overall increase in spending.
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The report also emphasizes the phenomenal growth of Indian women athletes and women cricketers. With the Indian women’s cricket team establishing itself on the world stage. It also reveals that, with a 14% CAGR, the sports sector is one of the better-performing economic sectors. The report highlights important aspects of how brands are anticipated to approach spending on sporting events differently as OTT usage increases. In addition, India will host the inaugural editions of the two major international racing competitions. Formula E & Moto GP, in 2023. Cricket continues to dominate the Indian sports sponsorship landscape, accounting for 85% of sponsorship spends. The remaining 15% is made up of sponsorship spends for emerging sports like football, Kabaddi, and the marathon.
The Indian cricket team playing almost twice as many matches in 2022 as in 2021 is one of many factors contributing to the growth of cricket sponsorship. Along with team India sponsorship, the BCCI Home Series Title & Central Sponsorship. BCCI Home Series Media Rights, and the WPL’s inaugural season in March 2023. Which will be the turning point for Indian cricket—are also highlighted in the report. The study demonstrates how businesses have never-before-seen opportunities to engage sports fans. The market for sports celebrity endorsements in India has grown significantly. With a total value of INR 729 crore, according to the Sporting Nation Report. Sports stars like Virat Kohli, MS Dhoni, Rohit Sharma, Sachin Tendulkar, Neeraj Chopra, and PV Sindhu are among the top athletes who endorse brands.
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The report also mentions that, in addition to cricket leagues. The successful hosting of several other tournaments contributed to the development of a diverse sports content portfolio in the nation. Attracting more viewers and opening up a variety of opportunities. The Sporting Nation 2023 Report summarizes how India has transformed into a sporting nation over the past ten years. As of the growth of Indian cricket, the accomplishments of Indian athletes, and the proliferation of new sports leagues. The report offers important information on how businesses can leverage sports sponsorship. To achieve their marketing objectives more successfully than ever.
