Neeraj Chopra, PV Sindhu among non-cricketing athletes to lead endorsements

Neeraj Chopra and PV Sindhu emerged as the leading non-cricketing athletes to attract endorsement deals as per the Sporting Nation report 2023 by GroupM.

Out of the 505 brand endorsement deals, 85% of the total brand endorsement value has come from cricketers. The top athletes in sports celebrity brand endorsement include Virat Kohli, MS Dhoni, Rohit Sharma, Sachin Tendulkar, Neeraj Chopra, and PV Sindhu.

Emerging sports like Football, Kabaddi, and Marathons see an upsurge in sponsorship spending in India.

The 10th edition of the report mentioned that the Indian sports industry witnessed a significant growth curve in 2022, with spending crossing over INR 14,000 crore.

Growth of Sports Sponsorship

Sporting Nation 2023 highlighted the unprecedented growth of sports sponsorship in India, with spending on-ground, team, and franchise rising by INR 3021 Cr, a whopping 105% growth from 2021, making the total sponsorship spending INR 5907 Cr.

The overall increase in spending was due to the rise in the number of IPL matches, the addition of two new IPL teams, the ICC T20 World Cup, Asia Cup, and FIFA World Cup, and the return of emerging sports events and tournaments like PKL, marquee marathons, Maharashtra Open, and Commonwealth Games 2022.

Two big international racing events, Formula E & Moto GP, are to be held in India for the first time in 2023. The renewal of IPL Sponsorships post the 2023 season, BCCI Home Series Title & Central Sponsorship along with team India sponsorship, BCCI Home Series Media Rights, and the inaugural season of WPL in March 2023 will be the tipping point for Indian cricket.

The report reveals that cricket continues to dominate the Indian sports sponsorship landscape, contributing to 85% of the sponsorship spending, while emerging sports like football, kabaddi, and marathon have seen a massive upsurge in the sponsorship spending, contributing to the remaining 15%.

Sports Celebrity Market Growth

Indian women athletes and women cricketers saw a phenomenal rise, with the Indian women's cricketers making a name for themselves on the international stage.

The report highlights key aspects of how brands are expected to approach spending on sporting events differently with the rise of OTT, and the sports industry is one of the better-performing sectors in the economy with a 14% CAGR.

According to the Sporting Nation Report, the sports celebrity endorsement market in India has seen significant growth, with a 20% increase and with a total value of INR 729 Crore.

Out of the 505 brand endorsement deals, 85% of the total brand endorsement value has come from cricketers. The top athletes in sports celebrity brand endorsement include Virat Kohli, MS Dhoni, Rohit Sharma, Sachin Tendulkar, Neeraj Chopra, and PV Sindhu.

Apart from the cricket leagues, the success of several tournaments like the Indian Super League, Pro Kabaddi, the Commonwealth Games, Prime Volleyball League, and Ultimate KhoKho, along with the return of marathons had helped India build a diverse portfolio.

Overall, the rise of Indian cricket, the performance of Indian athletes, and the number of emerging sports leagues have all contributed to India becoming a sporting nation in the last ten years.