Paris Olympics: Sponsorship rev races past Rs 50cr mark, up nearly 70% from last edition
The world of sports is buzzing again with Paris Olympics 2024 being around the corner. The excitement seems to have translated into sponsorship revenues for the event, which according to sources, has crossed the Rs 50-crore mark. e4m has learnt that sponsorship revenues have jumped by nearly 70% compared to the previous edition (Tokyo Olympics 2020 that was held in 2021 due to Covid-19).
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According to sources, advertisers' response has been good this year compared to the last Games. “This year, the Indian Olympic Association (IOA) has closed more sponsorships than the previous edition. So far it has crossed the Rs 50-crore mark and they are still closing more sponsors.”
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The upcoming Paris Olympics edition will begin on July 26 and culminate on August 11. e4m has also learnt that in Tokyo Olympics 2020 the sponsorship revenue earned was around Rs 30 crore. It is important to note that the Tokyo Olympics happened during the pandemic when advertisers had tightened their budgets. IOA had signed 11 sponsors during the 2020 tournament. A Good Start The Indian Olympic Association (IOA), governing body for the Olympic Movement and the Commonwealth Games in India, has onboarded 14 Indian Olympic Partners – Bharat Petroleum Corporation Limited (BPCL), Reliance Foundation, Reliance Industries, Adani, Aditya Birla Capital, Yes Bank, Dream Set Go, Herbalife, EBCO, Borosil, AMUL, INOX Leisure, JSW Inspire, PUMA and TASVA. The worldwide sponsors tally includes brands like Coca-Cola, Airbnb, P&G, Panasonic, and Samsung. Speaking to exchange4media, Rahul Trehan, COO, IOS Sports & Entertainment, the official marketing agency for IOA, shared that since the Tokyo Olympics 2020 there's been a notable shift in how the 16-day multi-sports event is perceived in India. The government involvement has changed the mindset of leading corporate groups supporting non-cricket sports in India. “Companies are now heavily investing in sponsorships, creating ads with athletes, and promoting them across various platforms. This increased investment reflects a growing belief in the marketability of athletes like Neeraj Chopra, PV Sindhu, Mirabai Chanu, Lovlina Borgohain, Nikhat Zarin, Satwiksairaj Rankireddy, and Chirag Shetty, who have amassed large followings. Brands are hopeful that these efforts will yield positive returns in terms of engagement and visibility,” Trehan noted. IOA appointed IOS Sports & Entertainment as their marketing agency in 2016. This is their third Olympics with IOA. “Initially when we started, the response was very low for the Rio Olympics, the biggest sponsor we had was Edelweiss. Slowly and steadily brands came into the picture but things have changed after Tokyo Olympics,” he added. Trehan further highlighted that people are now more aware of the Games, and India's performance also makes the Olympics attractive for advertisers. At Tokyo 2020, the Indian contingent comprised 124 athletes, the largest the country had sent to the Games. India also won seven medals, our biggest haul in a single Olympics, with Neeraj Chopra’s historic gold medal in the men’s javelin throw being the highlight. Trehan also said that brands have been doing individual sponsorships with athletes, like Britannia signing up six athletes representing India in the Olympics. Kajaria, a tile manufacturer, has signed up three athletes - Manika Batra, Nikhat Jareen and Manu Bakar through IOA’s marketing agency. “Brands are doing individual level sponsorships with the athletes,” said Trehan. Meanwhile, the official media partner for the Olympics, Sports18, has signed four sponsors so far, with SBI and JSW being ‘co-presenting sponsors’ and Herbalife as ‘associate partner’. PNB has come on board as a ‘special partner’. Industry experts suggest the Olympics presents a valuable opportunity for brands to showcase their backing for the Indian team and align themselves with the global platform of the Games. “By sponsoring, partnering with athletes, and engaging in cause-related campaigns, brands can improve their reputation and establish emotional bonds with consumers who appreciate sportsmanship, excellence, and national pride. This support not only increases brand visibility but also enhances brand perception among the audience,” said an industry observer. India will be sending a contingent of close to 120 athletes to the Olympics this year, including an athletics team led by Neeraj Chopra, the defending champion in the men’s javelin event. A 21-member shooting team and a 16-member men’s hockey team are also part of the contingent. For more updates, be socially connected with us on
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Tags : Neeraj Chopra Indian Olympic Association Paris Olympics 2024 Ioa