New Delhi, April 27 (SocialNews.XYZ) The size of India's sports industry fell by Rs 3,215 crore in 2020 as compared to what it was in 2019, ESP, the sports and entertainment division of marketing and advertising agency GroupM said in its sports sponsorship report.
The report takes into account sponsorship spends, celebrity endorsement and media spend on sports properties. Based on these factors, the size of the Indian sports industry in 2020 was Rs 5,894 crore while it was Rs 9,109 crore in 2019.
Endorsements was the only category that saw a rise -- it was Rs 564 crore in 2020, from Rs 537 crore in 2019. Media spends on sports was at Rs 3,657 crore in 2020, down from Rs 5,232 crore.
Sponsorships fell from Rs 3,340 crore in 2020 to Rs 1,673 crore in 2019. While sponsorships on-ground fell from Rs 2,006 crore to Rs 850 crore, team sponsorship from Rs 934 crore to Rs 646 crore and franchisee sponsorship dipped from Rs 400 crore to Rs 177 crore.
The report also states that there is expected to be a recovery in 2021 with several cancelled events from 2020 expected to be played this year.
Source: IANS
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