Media rights and sponsorships in the sports industry are rolling toward record numbers. That is how analysts at Pricewaterhouse Corps see the next five years in the sports industry.
PwC projects a 4.8% annual growth in the next five years from $53.6 billion in 2012, to $67.7 billion in 2017. Over they years, sports industries held an annual growth of 3%. Total at-the-gate revenue of professional sports was $19.1 billion in 2012. PwC also forecasts a small 1.7% annual growth rate for merchandise through 2017. It's important for industries to stay a step ahead of the game by receiving sponsorships from larger brands to increase their income. Media can help them do that.
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Source: shopmailnmore.com
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Over the next five years, big growth will come from one major thing; media rights. Media is the safe haven for advertisers where cost fees have exploded over the past years. More content is brought on the internet. Ratings could be enhanced by possible professional and college conference realignment or other factors that could affect media rights. PwC predicts that media rights fees will grow by 7.7% next year to over $17 billion.
Credit the growth of media, which sponsorships can piggy back on as more advertising and marketing capacity opens up on more networks. And don’t forget the venues, which continue to open more space to sponsors in the quest to capture more dollars around slower-spending fans.
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