2024 saw a 2000% surge in sports sponsorships since 2016: Experts

The sports industry overall is in a great phase. With the rise of multiple domestic leagues and growing interest in sports outside of cricket, there is a great diversification available for fans and brands alike. As pointed out by R Ramakrishnan, Co-Founder, Baseline Ventures, “With India’s performance at multi-sport events like the Olympics, there’s an upward interest in multiple sports from various brands. With significant investments in sports infrastructure and tech integration, particularly in fan experiences and athlete performance analytics, the sports industry is looking on an upward trajectory. Brands are also increasingly associating with athletes beyond cricket, capitalizing on personalities from various sports such as chess, shooting, and track & field.”

Neerav Tomar, Managing Director, IOS, too, said that the sports sector in India grew tremendously in 2024. “Although traditionally cricket dominated the sports landscape, we have now witnessed a notable rise in the popularity of various other sports such as badminton, football, and pickleball. This is also evident in the growing fan base and extensive media coverage of these sports leading to a diverse sports culture in the country. The diversification of the sports industry has attracted various corporate sponsorships and brand engagements. Companies are now recognising the value of associating with a variety of sports and athletes. This year, we have secured approximately ₹150 crore in sponsorships for events including the Olympics, Commonwealth Games, and Asian Games and obtained ₹50 crore in licensing rights,” Tomar added.

Elaborating on the sate of sports sponsorships, he said, “The year 2024 also highlighted a 2000% surge in sports sponsorships since 2016, the multi-year partnership between Puma and the Athletics Federation of India (AFI) was one of the significant milestones that we achieved this year. Puma as the official kit sponsor for AFI, will allow over 400 Indian athletes to have access to high-performance apparel, footwear, and travel gear across various track and field disciplines. I believe India’s sports industry is finally evolving into a multi-sport ecosystem with global potential.”

Indian economy and investment in the Sports Industry

R Ramakrishnan noted, “The broader Indian economy has had a positive impact on the growth and investments in the sports sector this year. We are witnessing a lot of brands allocate specific marketing budgets for sports sponsorships, long term deals and investments in sports infrastructure and sports athletes. These are some positive trends to watch out for in the next few years. Another interesting trend is spending capacity in the regional (Tier 2 / 3 cities), which has also helped increase sports consumption in regional centres.”

“As one of the world’s largest economies, this year we have witnessed significant investments in sports to provide our athletes with world-class training to prepare for the Olympics and Paralympics.  The government and private sectors have collectively contributed around ₹350-400 crore towards providing top-tier coaches, world-class training facilities, and resources for both Olympians and Paralympians. Even corporates are committed to investing in supporting Indian athletes on the global stage with brands like Bharat Petroleum Corporation Limited sponsoring IOA for Paris 2024 and Los Angeles 2028 alongside YES Bank and Aditya Birla Capital. Also, the rise in popularity of leagues like IPL, ISL, and PKL has increased viewership and sponsorships leading to significant investments in infrastructure and athlete development. Broadcasting rights have become a key revenue generator for media companies, driving fierce competition among broadcasters. This will benefit the viewers as they will now have access to high-quality sports content,” said Neerav Tomar.

Key trends and developments

Tomar pointed out, “The Paris Olympics and Paralympics have been landmark events that have defined events of this year. Manu Bhaker’s bronze in the Women’s 10m air pistol and Neeraj’s silver in the Javelin throw at the Olympics was a moment of immense pride for the nation. Their achievement has brought the spotlight to non-cricket athletes.”

“At IOS Sports & Entertainment, we’ve seen this trend firsthand, as brands are increasingly moving beyond traditional cricket-centric endorsements. This year, non-cricket athletes have attracted more corporate attention, this shift not only reflects changing consumer preferences, but also highlights the growing appeal of diverse athletes. The Paris Olympics also demonstrated the growing interest from sponsors. We successfully onboarded 14 brands for the Indian Olympic Association (IOA). This strong response from corporates highlights how brands are now willing to align with athletes and events like the Olympics have become a platform for both national pride and global visibility.  At IOS, we are proud to play a part in this journey, supporting talent and setting the stage for even greater achievements in the years to come,” he added.