Cricket maintained its dominance in the sports sponsorship market with an 85% share, a two-percentage-point drop from 87% in 2023. The share of emerging sports grew to 15%, up from 13% a year ago, driven by the Olympics.
The 12th edition of the Sporting Nation report highlighted the evolution of sports in India into a significant industry, with the sports economy expanding 3.6 times over the past decade.
It also noted the resilience of the sports sponsorship sector, which has maintained a consistent 13% compound annual growth rate (CAGR) over 17 years.
GroupM South Asia CEO Prasanth Kumar said cricket remains the cornerstone of the sports industry, which is undergoing a dynamic shift, driven by legacy and emerging sports, non-cricket athletes, the Olympics buzz, and the digital revolution. He said the industry is becoming more diverse, digital, and innovation-driven, reshaping consumer engagement.
IPL chairman Arun Dhumal noted the country’s most commercially successful sporting event’s phenomenal growth, with media rights commanding $6.2 billion and the league’s franchise valuations skyrocketing. Teams like Mumbai Indians and Chennai Super Kings now rival some of the biggest clubs in European football and the NFL. In 2024, sports media spending remained the largest category, rising to ‘7,989 crore-a 7% increase from the previous year. Within media spends, TV attracted the lion’s share of ad revenues at ‘4,396 crore, marking a 5% year-on-year decline. However, digital saw significant growth, attracting ‘3,588 crore in media spends-a 25% increase. Cricket accounted for 94% of total media spends.
Sponsorship, the second-largest segment, remained steady at ‘7,421 crore. Within this category, ground sponsorship declined by 2% to ‘3,046 crore, while team sponsorship and franchise fees increased by 5% and 3%, reaching ‘1,681 crore and ‘2,694 crore, respectively.
Vinit Karnik, managing director of content, entertainment and sports at GroupM India, attributed the decline in ground sponsorship to fewer home matches played by the Indian cricket team and a restructuring of sponsorship deals in both IPL and ICC events.
India’s national cricket team played only 44 matches in 2024, compared to 64 in 2023, impacting sponsorship revenues. Karnik also noted that IPL sponsorship dynamics underwent a reset, with the high sponsor fill rates seen in IPL 2022 and 2023 not replicated in 2024, despite the increased value of title sponsorship and associate partner deals.
Similarly, the ICC sponsorship structure has been redefined. The ICC 2023 World Cup, hosted in India, featured 20 sponsors under the previous rights cycle. However, for the 2024-2028 cycle, the ICC has adopted a “Less is More” approach, reducing its sponsorship model to four premier partners and six global partners each for the men’s and women’s events.
