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Global Sponsorship Spending To Total $62.8B In '17, IEG's Annual Study Predicts
SportsBusiness Daily, January 31, 2017
Chicago-based research firm IEG's 32nd annual year-end industry review and forecast sees steady sponsorship spending growth in '17, with the caveat that caution on the part of brand and corporate marketers could grow into concern as the year progresses. For now, global sponsorship spending is projected to rise 4.5% in '17 to $62.8B from the $60.1B spent in '16. That growth rate is nearly equal to last year's 4.6%, which was slightly below the forecast of 4.7%. In North America, the world's largest sponsorship market, growth is expected to lag behind the global rate, increasing 4.1% in '17 following 4.2% growth last year. North American sponsorship spending should reach $23.2B this year. One factor that could prove to be a drag on spending is the lingering gap between sponsor expectations and properties' ability to deliver when it comes to both personalized marketing opportunities based on audience data, and valuable digital content and platforms. Spending by Chinese enterprises, both locally and abroad, will be the driving factor behind the Asia Pacific region's strong sponsorship growth – anticipated to again be the highest of any region at 5.8% in '17 on the heels of 5.7% growth in '16.