GroupM ESP, the entertainment and sports division of GroupM India, has released the 12th edition of its annual report on Indian sports. Titled ‘Sporting Nation: Building a Legacy’, the report provides a comprehensive analysis of India’s evolving sports sponsorship landscape, focusing on three key revenue streams: Sponsorships (including Ground, Team, and Franchise Fees), Athlete Endorsements, and Advertising Expenses on related content.
These three factors have collectively propelled the Indian sports market to the brink of the $2 billion mark—nearly seven times its scale in 2008. According to the India Sports Sponsorship Report 2024, the industry recorded a 6% year-on-year growth, surpassing Rs 16,633 crore last year.
Speaking about the current sports landscape, Ashwin Padmanabhan, Chief Operating Officer, GroupM South Asia, says, “With brands increasingly recognising the power of sports as a platform for deeper consumer engagement, the momentum is undeniable. This is not just growth in numbers—it’s the evolution of an industry that is more diverse, digital, and driven by innovation than ever before.”
“The Indian sports economy has firmly established itself as a high-growth sector, surging 7x since 2008 to near the $2 billion mark. While traditional powerhouses continue to drive momentum, the real story lies in the rise of emerging sports, athlete-driven brand value, and the digital explosion, which alone saw a 25% jump in media spends. The record-breaking Rs. 1,224 crore spends in athlete endorsements signals a shift—brands are betting big on individual icons across sports,” shares Vinit Karnik, Managing Director, Content, Entertainment & Sports, GroupM India.
SPORTS INDUSTRY SPENDS
Over the past decade, Indian sports have witnessed an unprecedented transformation, evolving at an accelerated pace across multiple disciplines. Advancements in technology, media, and infrastructure have reshaped the sporting landscape, not just as a form of entertainment but as a booming industry. The sports business has adapted dynamically, propelled by increasing investment, growing viewership, and a more structured approach to athlete development.
The report highlights that sponsorships, endorsements, and advertising have driven industry spending to 3.6 times the equivalent spending of ten years ago. Compared to 2023, the total delta stood at Rs 867 crore ($ 103 Mn), reflecting a 6% upward shift. Cricket remains the financial powerhouse, commanding 85% of industry revenue with total spends of Rs 14,173 crore ($1,687 Mn) and contributing Rs 472 crore ($56 Mn) to the growth—a modest 3% YoY increase. Meanwhile, emerging sports, though holding a smaller 15% share, grew at a striking 19%, adding Rs 396 crore ($47 Mn). The report also points out that while cricket’s financial ecosystem remains unmatched; its 2024 growth fell short of past expectations, warranting a closer look at the underlying trend.
SPORTS SPONSORSHIP SPENDS
In 2024, Indian sports sponsorship saw steady consolidation. While cricket took a cautious commercial approach, the IPL’s 17-year evolution shaped a dynamic sponsorship model. Today, brands, businesses, sports properties, and consumers form a thriving, interconnected ecosystem.
The report also highlights that, despite limited revenue growth opportunities, cricket rights holders focused on maximising sponsor value, strengthening a solid long-term framework. Meanwhile, emerging sports accelerated growth, giving the industry a significant boost. With the Olympics in focus, corporate India rallied behind the national contingent, reflecting the country’s growing sporting spirit.
India’s sports sponsorship spending in 2024 reached Rs 7,421 crore ($883 Mn), marking a modest 1% growth from 2023. Ground Sponsorship closed at Rs 3,046 crore ($363 Mn), slightly below last year, while Team Sponsorship rose to Rs 1,681 crore ($200 Mn) and Franchise Fees to Rs 2,694 crore ($321 Mn). Cricket remained dominant, contributing 76% (Rs 5,610 crore / $668 Mn), though with a slight dip from 2023.
SPORTS MEDIA SPENDS
Over the past decade, brand investments in sports media have surged, fuelling a thriving ecosystem. This symbiotic relationship continues to drive growth, reinforcing the powerful connection between sports and media.
The report states that in recent years, digital advertising in sports has experienced a significant surge, driven by rapid advancements in the OTT (Over-The-Top) sector. Leading platforms such as Hotstar, JioCinema, and Sony Liv have emerged as dominant players in this space. It further states that JioCinema is now set to play a pivotal role in live-streaming cricket’s three key pillars—ICC tournaments, BCCI’s bilateral matches, and the IPL—solidifying its position at the forefront of sports broadcasting.
Media expenses in 2024 reached Rs 7989 crore ($951 Mn), growing 7% YoY and nearing the billion-dollar mark. TV remains the dominant medium for sports advertising, contributing Rs 4396 crore ($523 Mn), though growth was impacted by industry challenges. Digital sports advertising, driven by OTT platforms like Hotstar, JioCinema, and SonyLIV, surged 25% YoY to Rs 3588 crore ($427 Mn), reflecting India’s rapid digital adoption. With marquee sports events shaping brand strategies, cricket continues to dominate, accounting for a massive 94% of total ad spends.
SPORTS CELEBRITY ENDORSEMENT
Athlete endorsements in India soared in 2024, recording a 32% YoY spike—the highest in 14 years. This surge reflects the growing influence of sports celebrities, with brands increasingly investing in high-value partnerships.
According to the report, athlete endorsements hit a record Rs 1,224 crore in 2024, up 32% from Rs 927 crore in 2023. While cricket remained dominant, non-cricket endorsements surged 46%, led by stars like Neeraj Chopra, PV Sindhu, and Manu Bhaker. The Olympic boost further propelled emerging sports sponsorships to Rs 2,461 crore—a 19% jump. Notably, distance running alone accounted for a quarter of this growth, highlighting India’s rising focus on fitness and endurance sports.
India has risen as a global sporting force this decade, with athletes excelling across disciplines. Emerging sports are creating nationwide opportunities, fostering a more inclusive ecosystem. The Hockey India League has reignited fan enthusiasm, marking a promising chapter for Indian sports.
