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10 Key Insights into Sports Sponsorship and Marketing Trends in 2024

The year 2024 has been transformative for the sports sponsorship and marketing landscape. From emerging sponsorship categories to the evolving use of AI and the increasing prominence of female athletes, the past 12 months have unveiled trends that are reshaping the industry. Here are the ten most significant insights:

1. Sponsorship Revenue Continues to Grow, but Budgets Face Pressure

The sports sponsorship market experienced notable growth in 2024, with some U.S. major league teams reporting double-digit increases in partnership revenue. However, economic uncertainties have tempered expectations for 2025, with analysts predicting minimal growth in marketing budgets.

Rights holders now face increased pressure to demonstrate a return on investment (ROI) to retain and attract sponsors. The Paris 2024 Olympics illustrated this tension. While celebrated as a success, it marked the end of longstanding partnerships with Toyota, Panasonic, and Bridgestone—likely due to the escalating costs of top-tier sponsorships. Notably, the International Olympic Committee (IOC) relaxed its traditionally strict sponsor visibility rules, benefiting brands like Samsung and Coca-Cola.

2. New Sponsorship Categories Dominate as Crypto Makes a Comeback

Emerging categories like electric vehicles (EVs), non-alcoholic beverages, and airlines took center stage in 2024.

AB InBev debuted as an Olympic partner, promoting its non-alcoholic beer, Corona Cero. Meanwhile, Chinese EV giant BYD secured high-profile deals, including Euro 2024 sponsorship, competing on the home turf of automotive titans like BMW and Mercedes-Benz. Similarly, Riyadh Air’s entry into the airline sponsorship arena sparked increased competition with established Gulf carriers Emirates and Qatar Airways. Surprisingly, crypto sponsorships also staged a revival, proving their resilience in a competitive market.

3. Sports Marketers Are Still Grappling with AI

AI remains a hot topic, though its practical applications in sports marketing are still evolving. Generative AI has shown promise in improving efficiencies and reducing costs—as seen with Klarna’s marketing initiatives—but its role in creative processes remains controversial. Manchester City’s experiment with fan-sourced kit designs and Under Armour’s AI-powered ad campaign sparked debate about AI’s limitations in fostering emotional connections. The industry is still searching for the right balance between automation and creativity.

4. The Resurgence of In-Person Activations

With COVID-19 restrictions behind us, in-person activations made a strong comeback in 2024. Sponsors at major events like the Olympics and Euro 2024 invested heavily in experiential marketing. Coca-Cola’s food festival in Paris and a record-breaking 40+ brand activations at NBA All-Star Weekend highlighted the enduring appeal of face-to-face engagement. These activations demonstrated the power of real-world experiences in strengthening brand connections.

5. The Rising Influence of Female Athletes

Female athletes continued to gain prominence as valuable brand ambassadors in 2024. Social media clout played a significant role, with stars like Caitlin Clark and Ilona Maher captivating audiences. Endorsement deals with athletes such as JuJu Watkins and Angel Reese reflected brands’ growing recognition of their influence. Notably, Simone Biles made history by becoming the first woman to be named the world’s most marketable athlete twice.

6. Nostalgia Drives Fan Engagement

Sports teams embraced nostalgia to deepen fan connections. Retro-inspired kits and merchandise gained traction, exemplified by Premier League clubs’ season launches that celebrated past eras. Investors also tapped into this trend, with The Chernin Group’s $38.5 million investment in Classic Football Shirts underscoring the commercial potential of retro sportswear.

7. Luxury Brands Expand Their Presence in Sports

The intersection of sports and luxury fashion gained momentum, led by industry giant LVMH. The company’s partnership with Formula 1 and its acquisition of Paris FC illustrated how luxury brands are using sports as a platform to reach aspirational consumers. Chanel’s entry into sports sponsorship and Burberry’s collaborations with athletes further highlighted this growing trend, offering creative content opportunities and new revenue streams.

8. The Growing Influence of Celebrities in Sports Marketing

2024 saw a strategic shift in how sports entities leverage celebrity influence. Beyond traditional partnerships, celebrities like Snoop Dogg brought fresh energy to events like the Paris Olympics, where his role as an NBC reporter captivated audiences. Collaborations with influencers and creators on platforms like TikTok and Instagram allowed sports organizations to engage with younger, tech-savvy demographics more effectively.

9. Sustainability Partnerships Face Declining Commitment

Despite years of sustainability-focused initiatives, the sports sector’s environmental commitments appeared to wane in 2024. High-profile organizations like SailGP and Formula E faced criticism for partnerships with airline and mining companies. Research by the European Sponsorship Association revealed a 6.2% decline in pro-environment initiatives, raising questions about the future of sustainability in sports sponsorship.

10. Social Media Fragmentation Challenges Fan Engagement

The fragmentation of social media platforms created new challenges for sports marketers. The decline of Twitter (now X) as a central hub for live sports discussions prompted fans to migrate to alternatives like Bluesky or niche platforms. This shift has forced organizations to rethink their strategies, ensuring they can still reach their audiences across diverse and decentralized channels.

Looking Ahead to 2025

As we move into 2025, the sports sponsorship and marketing industry faces a dynamic and challenging landscape. From leveraging new technologies and adapting to economic constraints to capitalizing on cultural shifts, the lessons of 2024 will undoubtedly shape the next wave of innovation and opportunity.

Source: SportsPro Media