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Global sports sponsorship 'to hit £35bn' in 2019 | Global sports sponsorship 'to hit £35bn' in 2019 |
(about 3 hours later) | |
Business spending on sports sponsorship is set to grow by 4% to £35bn globally in 2019, according to a new report. | Business spending on sports sponsorship is set to grow by 4% to £35bn globally in 2019, according to a new report. |
But rights-holders, such as leagues, teams or tournaments, are under-exploiting sponsorship deals, according to research from agency Two Circles. | But rights-holders, such as leagues, teams or tournaments, are under-exploiting sponsorship deals, according to research from agency Two Circles. |
It says that there could be an extra £14bn in revenues being unrealised because of outdated rights packaging. | It says that there could be an extra £14bn in revenues being unrealised because of outdated rights packaging. |
It also says sport has to move beyond backers such as carmakers, financial services, airlines and gambling. | It also says sport has to move beyond backers such as carmakers, financial services, airlines and gambling. |
'True value' | 'True value' |
"Most rights-holders continue to package and sell sponsorship just as they did 20 years ago - offering brand exposure through linear (TV) broadcast coverage as the main benefit for brands," says Two Circles boss Gareth Balch. | "Most rights-holders continue to package and sell sponsorship just as they did 20 years ago - offering brand exposure through linear (TV) broadcast coverage as the main benefit for brands," says Two Circles boss Gareth Balch. |
He said the power of digital marketing was still not being fully utilised by sporting bodies. | He said the power of digital marketing was still not being fully utilised by sporting bodies. |
UK sports sponsorship by sector | UK sports sponsorship by sector |
Source: Two Circles | Source: Two Circles |
"Rights-holders are adapting," Mr Balch added, "and we predict a sports sponsorship correction". | |
"By embracing the power of digital and data to create sponsorship assets that better satisfy the objectives of brands, rights-holders will realise the true value of their sponsorship businesses." | "By embracing the power of digital and data to create sponsorship assets that better satisfy the objectives of brands, rights-holders will realise the true value of their sponsorship businesses." |
Two Circles predicts spend on sponsorship will increase by 6% on average year-on-year between 2020 and 2024 to hit £48bn overall by the end of the period. | Two Circles predicts spend on sponsorship will increase by 6% on average year-on-year between 2020 and 2024 to hit £48bn overall by the end of the period. |
Gambling concerns | Gambling concerns |
The report comes amid concerns in Europe that marketing restrictions on gambling firms, which currently account for 12% of sports sponsorship spend in the UK alone, could have a considerable negative impact on the sports sponsorship market. | The report comes amid concerns in Europe that marketing restrictions on gambling firms, which currently account for 12% of sports sponsorship spend in the UK alone, could have a considerable negative impact on the sports sponsorship market. |
In the UK, health bodies, charities, regulators and businesses are being brought together to tackle problem gambling. | In the UK, health bodies, charities, regulators and businesses are being brought together to tackle problem gambling. |
The Gambling Commission has drawn up a three-year strategy that focuses on prevention, education and treatment and support for problem gamblers. | The Gambling Commission has drawn up a three-year strategy that focuses on prevention, education and treatment and support for problem gamblers. |
GVC Holdings, which owns Gala, Ladbrokes and Coral, has said it is stopping all football shirt sponsorship, as well as stopping perimeter advertising at matches. | GVC Holdings, which owns Gala, Ladbrokes and Coral, has said it is stopping all football shirt sponsorship, as well as stopping perimeter advertising at matches. |
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