We are excited to bring you this morning a fresh report from Sport for Business members Core Sponsorship looking at the potential impact of the Covid-19 crisis on sponsorship here in Ireland and around the world.
It is a rapidly changing environment but this moment in time snapshot is a powerful reflection on where we are now in the depths of sport going into shutdown and the economy teetering on the brink of its largest-ever shock.
With lives on the line, it can seem insensitive to be looking at other impacts but as an industry, we have a responsibility to prepare for a resumption of normal activity and to see where the gaps are likely to be.
Core have done just that with a detailed look at the three phases of how we adapt, react and recover. They have spoken to a cross-section of those involved as sponsors and as rights holders and have pulled together five strands to look at in greater detail.
The first is the importance of sponsorship revenue. This is a vital stream for rights holders but will inevitably come under pressure as businesses adapt themselves to a fall in business and potential widespread loss of jobs. It is an important factor on both sides and will need close working together to get through.
The second is a desire to support, from sponsors willing to do what they can to help and rights holders putting their strengths at the disposal of partners and the wider society.
The third is the need to take a cold hard look at the lost exposure which has come from such a massive and unexpected displacement of events. There is a vacuum which may be recovered in part but which does have a value.
Fourthly the report takes a look at the creative opportunity to engage with fans that are starved of action and receptive to being entertained as an escape from the reality we are all facing.
Finally the report looks at the opportunity which may exist in eSports, but only for those who get it right.
It’s a powerful piece of work, thought-provoking and a potential important conversation point between brands and the sporting bodies with whom they have a relationship.
We are in uncharted territory for an industry that has grown to be so important within sport and how we engage with it.
Core Sponsorship is offering free of charge consultancy and questions and answers conference calls during these times of crisis. Contact jamie.macken@onecore.ie to find out more.
You can see the report in full below by clicking on the thumbnail pictures below but please do the right thing and support those who are making it available to you, if not right away then when the time comes. Contact rob@sportsforbusiness2.ab6z.com to talk about opportunities to work with us as members in getting through this.
Any problems with loading drop us an email and we will get the report to you.
