According to a recent Group M study, sponsors are heavily involved in the Indian sports industry, and this will result in a 105% increase in sponsorship from 2021 to 2022.
The sports industry in India has been propelled in the correct direction by this enormous increase, making it a Sporting Nation as the total amount spent in 2022, at Rs 14, 209 crores, represents an enormous 49% growth from the previous year.
In the year 2021, total amount spend on sponsorship was close to 2,886 crore where there was significant jump of 105% to INR 5,907 crore in the subsequent year.
Overall if we segregate, 14,209 crore among other sports which include, Cricket alone has amassed a massive amount of 12,115 crore and other sports have accumulated around 2,000 crore.
Dwelling more into the details, Cricket is almost like a religion in the country so the emergence of IPL leagues has enabled more involvement of sponsors in the cash-rich league.
When we compare the amount generated by Cricket Sponsorship at these two years, it will equate to close to 80% revenue but other sports number have risen significantly.
When we talk about media spend by brands where 94% of ad related expenses is related to gentlemen’s game across all media vehicles.
When we talk about involvement of other sports growth in terms of sponsorship, India’s victory in Tokyo Olympics with the way they have won back to back medals especially someone like Neeraj Chopra, PV Sindhu’s consistency and the concept of Khelo India Youth Games and Khelo India University games where most players have risen up the ranks where sponsors are involved in a massive scale.
Overall when we talk about the consumption of Sports will grow even further due to introduction of technology as leagues will come in huge numbers which will actively involve more sponsors and they will seek new ways to engage with fans.
Analyzing all the data, its pretty clear that future of Sports in India looks bright.