March 15 – European sponsorship has surged to €30.9 billion, marking a return to pre-pandemic levels, according to the latest research by the European Sponsorship Association (ESA) in collaboration with Nielsen Sports.
The 2024 ESA Sponsorship Market Overview shows a 6.2% increase over the past year, up from €29.05, and surpassing the previous record of €30.69 billion set in 2019.
The comprehensive report covers both sport and non-sport sectors, both of which witnessed notable growth in 2023. Sport sponsorship volume reached €21.98 billion, an increase from €20.69 billion in 2022 and €20.26 billion in 2019.
Non-sport sponsorship grew 6.2% upswing, from €8.36 billion to €8.88 billion. Despite this growth, non-sport sponsorship remains below the pre-pandemic peak of €10.43 billion.
Samantha Lamberti, Managing Director International, Nielsen Sports, said: “The year 2023 was a remarkable one for the sponsorship industry, as it both witnessed a full recovery from the effects of the COVID-19 pandemic and a significant growth in spending. However, we at Nielsen Sports are certain that this was only an intermediate step.
“We see changes in the market that will also influence sponsorship in the medium and long term. Yet, we can acknowledge great potential in this. Brands and rights holders will, nonetheless, have to position themselves more strategically than ever before in order to meet the demands of the market.
“This will be particularly difficult as the entry of new properties is expected to lead to a sharp increase in market volatility. This can result in brands needing more security, for example through shorter contract terms or performance-related sponsorship payments.”
Sophie Morris, ESA Chair, added: “The ESA 2024 Sponsorship Market Overview shows what we were all hoping for, that 2023 would see the return of the industry market value to pre-pandemic levels.
“The continued recovery, particularly through the global political and economic uncertainties, shows the strength and also the future potential of the industry.
“We are also seeing new sectors of growth, particularly in sponsorships related to ESG, cause and purpose. And sizeable, long-term rights deals in the arts and culture sector show the opportunity and real value for brands engaging in that space.”
Contact the writer of this story, Harry Ewing, at moc.l1734889435labto1734889435ofdlr1734889435owedi1734889435sni@g1734889435niwe.1734889435yrrah1734889435