Sponsorship across Europe recovered to pre-pandemic levels in 2023 after another year of significant growth, according to research from the European Sponsorship Association and Nielsen Sports.
The 2024 ESA Sponsorship Market Overview found that the total value of Europe’s sponsorship market increased by 6.2% over the past year from €29.05bn to €30.86bn. The total volume exceeded the previous record high of €30.69bn measured in 2019, prior to the damage wrought by the pandemic.
The Sponsorship Market Overview covers sport and non-sport, and both sectors enjoyed another increase in 2023. Sport achieved another record high volume of €21.98bn compared with €20.69bn in 2022 and €20.26bn in 2019. The recovery of the non-sport sector was similar in percentage terms with a 6.2% gain from €8.36bn to €8.88bn.
The report also measures the top 10 markets in Europe, and it found that Iceland and Poland (19%) were this year’s fastest growers. The report found that Germany (€5.7bn) remained the largest sponsorship market in the continent followed closely by the UK (€5.13bn).
“The year 2023 was a remarkable one for the sponsorship industry, as it both witnessed a full recovery from the effects of the COVID-19 pandemic and a significant growth in spending,” said Samantha Lamberti, Managing Director International, Nielsen Sports.
“However, we at Nielsen Sports are certain that this was only an intermediate step.”
“We see changes in the market that will also influence sponsorship in the medium and long term. Yet, we can acknowledge great potential in this. Brands and rights holders will, nonetheless, have to position themselves more strategically than ever before in order to meet the demands of the market.”
“This will be particularly difficult as the entry of new properties is expected to lead to a sharp increase in market volatility. This can result in brands needing more security, for example through shorter contract terms or performance-related sponsorship payments.”
“The ESA 2024 Sponsorship Market Overview shows what we were all hoping for, that 2023 would see the return of the industry market value to pre-pandemic levels,” added ESA Chair Sophie Morris.
“The continued recovery, particularly through the global political and economic uncertainties, shows the strength and also the future potential of the industry.”
“We are also seeing new sectors of growth, particularly in sponsorships related to ESG, cause and purpose. And sizeable, long-term rights deals in the arts and culture sector show the opportunity and real value for brands engaging in that space.”
“We are grateful to the team at Nielsen Sports for their work in pulling together this essential annual report.”
This report was produced using Nielsen Sports Market Intelligence and is available exclusively to ESA members. The ESA Sponsorship Market Overview has been conducted annually with Nielsen Sports since 2008.
Rob Hartnett of Sport for Business is a judge of the Best of Europe category at the European Sponsorship Awards
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