India’s sports sponsorship industry has crossed a significant milestone, reaching a staggering ₹16,633 crores (approximately $2 billion) in 2024, according to the latest “Sporting Nation” report released by GroupM ESP Properties, the sports and entertainment division of GroupM India. This 12th edition of the comprehensive report reveals a robust 6% year-on-year (YoY) growth, underscoring the enduring appeal and commercial viability of sports in the country.
The report highlights the remarkable expansion of the Indian sports market, which has witnessed an impressive sevenfold increase since 2008. Over the past decade, India’s sports sponsorship industry has grown 3.6 times, demonstrating a strong Compound Annual Growth Rate (CAGR) of 13% over the last 17 years. This consistent growth trajectory solidifies the sports sector’s position as a vital contributor to the Indian economy.
While the overall industry maintains strong momentum, the report indicates a slight moderation in sponsorship growth to 1% in 2024. This stabilization is primarily attributed to the cyclical nature of major sporting event rights, specifically the resetting of cycles for the Indian Premier League (IPL) and International Cricket Council (ICC) tournaments. Additionally, the Indian national cricket team played fewer matches in 2024 (44) compared to the previous year (64), impacting sponsorship opportunities.
Cricket continues to be the undisputed king of sports sponsorship in India, commanding approximately 85% of the total industry revenue. Sponsorship spending within cricket reached ₹5,610 crore, accounting for 76% of the total sponsorship value. However, the report also shines a spotlight on the burgeoning influence of other sports, signalling a diversification of the sponsorship landscape.
A key highlight of the report is the unprecedented surge in athlete endorsements, which reached an all-time high of ₹1,224 crores in 2024. This represents a substantial 32% YoY increase from ₹927 crores in the previous year, demonstrating the growing power of individual athletes in driving brand engagement. Notably, this growth is not solely confined to cricket, with endorsements for athletes in emerging sports experiencing an impressive 46% upswing.
Sponsorships in non-cricket sports have also demonstrated significant growth, rising by 19% to ₹2,461 crores in 2024 from ₹2,065 crores in 2023. The momentum generated by the Olympic Games is identified as a crucial catalyst for this increase. Distance running emerged as a significant contributor, accounting for a quarter of this market, reflecting the rising popularity of fitness and endurance sports across India. Athletes like Neeraj Chopra, PV Sindhu, and Manu Bhaker are credited with playing a pivotal role in this expansion, showcasing the growing brand value of non-cricket icons.
The digital realm is increasingly integral to the sports ecosystem, with media spending within the sector witnessing a 7% YoY increase, reaching ₹7,989 crores in 2024. Digital media has emerged as a significant growth engine, registering a robust 25% increase compared to the previous year, highlighting the shift in consumption patterns and the importance of online platforms for sports engagement.
Ashwin Padmanabhan, Chief Operating Officer, GroupM South Asia, commented on the evolving landscape and said, “The Indian sports industry is experiencing a dynamic shift, driven by both legacy and emerging sports. While cricket remains a cornerstone, the rise of non-cricket athletes, the Olympic buzz, and the digital revolution are reshaping the landscape. Brands are increasingly leveraging sports as a powerful engagement platform, marking a transformative phase for the industry.”
Vinit Karnik, Managing Director, Content, Entertainment & Sports, GroupM India, added, “The Indian sports economy has grown sevenfold since 2008 and is now nearing the $2 billion mark. Beyond traditional powerhouses, the real growth story lies in the rise of emerging sports, athlete-driven brand value, and digital media, which saw a 25% spike in media spending. The record-breaking Rs. 1,224 crore in athlete endorsements reflects a significant shift—brands are now investing heavily in individual sports icons. As we move into a new era of engagement, innovation will be the key to unlocking the next wave of commercial success in Indian sports.”
The GroupM ESP report paints a compelling picture of a vibrant and expanding sports sponsorship industry in India. While cricket continues to be a dominant force, the increasing contribution from emerging sports, the significant rise in athlete endorsements, and the growing influence of digital media signal a diversification and maturation of the market. This strong commercial foundation, coupled with increasing engagement across a broader range of sporting disciplines, positions the Indian sports sponsorship industry for sustained growth and innovation in the years to come.
