Top 5 trends in sports sponsorship for brands

The world has been embracing the biggest sports events of 2024 – UEFA Euro, Wimbledon, Olympic and Paralympic Games – to name a few. These, alongside many other events, present vast opportunities for brands looking to enhance equity via association, by tapping into a global passion for sport – before, during, and after the competitions.

For brands, this is a perfect time to harness the universal language of sport, and its unique ability to unite people. With athlete influencers, national teams in the spotlight, and valuable sponsorship opportunities, the most astute brands will be those that connect and engage with their audiences on a community-centric and personal level, capturing the games’ spirit of pride, resilience, and determination.

So, here are the top 5 trends brands should be focusing on to maximise their sport sponsorship investments.

A global business

Sports sponsorship is a $66 billion industry globally. A worldwide phenomenon that is expanding its horizons like never before with the market expecting to grow to a staggering $108 billion by 2030. This globalisation of professional sports is pushing boundaries and breaking geographical barriers, with the Premier League – the English football league system – being a perfect example. US leagues are additionally demonstrating this with an increasing number of international games, such as Major League Baseball just completing a World Tour in Korea, and its annual series in London. This summer, a World Cup Cricket match has also taken place in the New York area – a testament to the growing popularity of sports outside of its traditional strongholds.

The rise of the influencer athlete

Athletes now have enormous social media followings and powerful personal brands beyond their sport. When testing traditional social media influencers vs athlete influencers in the same campaign, brands saw athlete partners get upwards of 2.5 times higher engagement rates and reach an average of 23% more of their followers per social post. What’s more, fans of athletes are 164% more likely to purchase a product after an athlete they follow mentions it. Leading brands are seeing over seven times ROI on marketing campaigns with athletes. It’s worth thinking about the opportunities presented here to connect with audiences in more personal, authentic ways.

The ever-evolving digital age

The explosion of viewing platforms, ranging from in-person attendance to streaming across multiple devices, has allowed brands to create deeper connections and reach more people. Similarly, the streaming revolution has broadened audiences beyond traditional sports fans. One example is Netflix’s Drive to Survive series that caused Formula 1’s stock to increase 50% in a year.

Social media and creator content has also enabled brands to get closer to fans. YouTube is now used to access both official sports and creator content for the analysis and commentary after the games. Undoubtedly, the fandom and fanfares that follow sporting events are amazing opportunities to tap into. According to Ad Age, Super Bowl 2024 ads and teasers on YouTube garnered more than 1 billion views, with the 2024 Super Bowl ads achieving millions of shares.

The growth of women’s sports

Sponsorship deals in women’s professional sports have risen by more than 22% year-on-year with 84% of general sports fans now interested in women’s sports. Think about how you can leveraging untapped audiences to improve both brand image and connections with your audience.

Emerging grassroots sports

Brands today are diving headfirst into the world of grassroots sports, encouraging more physical activity, and promoting community engagement. This isn’t merely a trend; it’s a win-win strategy that rides on the brand rub effect, enhancing their public image while also fostering local talent.

The McDonald’s and FA Cup coverage on ITV is a classic example. It’s grassroots involvement with children and parents aims to ensure football is accessible to all young people, whilst its TV sponsorship reaches a large audience. Similarly, sporting bodies are also looking to understand the participant experience to maximise involvement at a local level. Brands need to understand how to drive sport participation, target the right audiences, design communication that connects, create sports brands, and link to key sporting events.

So, with the Olympics already upon us, are you leveraging these trends to enhance your brand equity?

For more on sports sponsorship and the importance of research in this area, download our free report here.