Value of Sports Endorsement Deals to Companies & Players
The global sports industry is estimated to be worth $700 billion, and is continuing to grow. This makes it ripe for lucrative endorsement opportunities that benefit both companies and players.
If you are interested in pursuing a marketing career after you complete your sport management degree, the value of sport endorsement deals is especially important to understand.
What Are Sport Marketing Endorsement Deals?
Sport endorsement and sponsorship deals make up a large part of sport marketing strategy. Companies use athletes and sport personalities to enhance their brands, advertise goods and sell their products in exchange for career enhancement and compensation. The added exposure can turn sport figures into superstars, especially when the amount of money is astronomical. From June 2015 to June 2016, the 100 top-earning athletes banked a cumulative $3.15 billion, 29% of which came from endorsements and appearances.
New Forms of Endorsement and Sponsorship
Sport endorsements have changed over time, from the traditional “Wheaties” ad to new opportunities like streaming events online, crossing over into media, social media activity, charity sponsorship and special event sponsorship (like the Super Bowl). This unique evolution can be attributed to:
- The globalization of sports, products, brands and companies
- Emerging technologies that connect fans to sports stars more closely
- An increased desire for escapism
- A younger demographic seeking out more lifestyle and entertainment content
To learn more about the growth and importance of sport endorsement to sport marketing and management, view the infographic below from the Adelphi University online Master of Science in Sport Management program:
Add This Infographic to Your Site
<p style="clear:both;margin-bottom:20px;"><a href="https://sportsmanagement.adelphi.edu/blog/value-of-sports-endorsement-deals-to-companies-players/"><img src="https://s3.amazonaws.com/utep-uploads/wp-content/uploads/adelphi/2018/11/27110438/au-mssm-sport-endorsements.jpg" alt="" style="max-width:100%;" /></a></p><p style="clear:both;margin-bottom:20px;"><a href="https://sportsmanagement.adelphi.edu" target="_blank">Adelphi University </a></p>