European sport sponsorship hits record €20bn in 2022, finds report
March 27 – The European sponsorship market grew by 4.3% to €29 billion in 2022, with sport accounting for €20.69 billion of the total, according to a study by the European Sponsorship Association and Nielsen Sports.
The number of sports sponsorships in 2022 marked a new high for the sports sector – the €20.69 billion compared to €19.80 billion in 2021 and €20.26 billion in 2019.
While sport sponsorship revenue records broke, total sponsorships in Europe were still €1 billion below 2018 and 2019 levels, with a record high of €30.69 billion in 2019.
The uptick in sports sponsorship has been credited to the lifting of Covid restrictions across the continent, with fans returning to stadiums and major events such as the 2022 Women’s Championship exciting the market, as well as the impact of the 2022 World Cup in Qatar.
Samantha Lamberti, Managing Director International, Nielsen Sports, which has been producing the report annually since 2008, said: “A look at the numbers confirms the trend for 2021: the sponsorship market in Europe is growing for the second year in a row. Lifted restrictions and increased adoption of Web 3.0 technologies served as growth drivers.”
The report highlights the rapid rise in crypto sponsorships, which have had both positive and negative effects on the industry, bringing “a cash injection alongside some volatility due to sector instability.” Russia’s invasion of Ukraine was also seen as negative.
The report measures the top 10 markets in Europe and highlighted Spain (14%) and the UK (10%) as this year’s fastest growing markets. Interestingly, the report nots Spain had benefited from market stabilization following the 2021 betting sponsorship ban, with renewed commercial growth being driven by FC Barcelona and Atletico Madrid. The Premier League has been the engine of sponsorship growth in the UK.
Andy Westlake, ESA Chair, said: “It is remarkable how well sponsorship has recovered from the devastating effects of the pandemic and we have all enjoyed the full resumption of in-person sporting and cultural events leading to the sector’s re-growth in 2022 have contributed .
“To see industry volume in 2022 approaching pre-pandemic levels underscores the importance of sponsorship for companies across Europe who need to create a tangible connection with their customers. Sports sponsorship has reached record levels over the past year and I am confident that 2023 will see further growth in non-sports sponsorship.”
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