Almost 75 percent of expenditures spent on event sponsorship goes toward sponsoring sporting events.
An event sponsor company supports an event by providing funds mostly, in exchange for something valuable. Four types of sponsorships are financial sponsors, media sponsors, in-kind sponsors and promotional partnerships.
Benefits of sponsoring sporting events are increased brand exposure, in-event speaking opportunities that help boost their brand equity and direct contact with an audience full of relatively warm leads. In 2020, the global sports sponsorship market was worth an estimated 57 billion U.S. dollars and by 2027 it is expected to grow to almost 90 billion U.S. dollars.
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