By BestMediaInfo Bureau

Total sports sponsorship spends grew by 24% to reach Rs 7,345 crore in 2023. It stood at Rs 5,907 crore in 2022, according to GroupM ESP, the entertainment, esports and sports division of GroupM India.

Of the total spends on sports sponsorships, ground sponsorship spends stood at Rs 2,953 crore (up 6% YoY), team sponsorship at Rs 1,600 crore (up 22% YoY) and franchise fee at Rs 2,628 crore (up 60% YoY) in 2023.

Out of the overall sports sponsorship spending of Rs 7,345 crore, cricket dominated with Rs 5,817 crore, marking a significant 32% year-on-year growth. Meanwhile, emerging sports made a contribution of Rs 1,528 crore, experiencing only a modest 2% year-on- year growth.

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