Athlete endorsements up 32% in 2024, led by cricket and other sports

Athlete endorsements in India crossed the Rs 1,000 crore mark for the first time to reach Rs 1,224 crore in 2024, led by cricket and endorsements for emerging sports boosted by the Olympic Games Paris 2024, as per a report by GroupM India.

 

“This rise was driven not just by cricket but also by emerging sports, where icons like Neeraj Chopra, PV Sindhu and Manu Bhaker led a 46 per cent increase in non-cricket endorsements to Rs 170 crore,” said the report titled Sporting Nation. However, cricket still leads the overall endorsement share with 87 per cent. Cricket endorsements in 2024 saw a rise of 30 per cent to Rs 1,054 crore on a year-on-year basis (Y-o-Y). The report also added that the 32 per cent rise in athlete endorsements to Rs 1,224 crore last year was the highest annual growth rate in this segment in 14 years on a Y-o-Y basis.

   

“The record-breaking Rs 1,224 crore in athlete endorsements signals a shift—brands are betting big on individual icons across sports,” said Vinit Karnik, managing director, content, entertainment and sports, GroupM India in the report titled Sporting Nation. “As we enter a new era of engagement, innovation will be key in unlocking the next wave of commercial success in Indian sports.”

 

Apart from endorsements, the Olympic Games Paris 2024 also fuelled the growth of emerging sports sponsorships, which rose by 19 per cent to Rs 2,461 crore last year.

 

Overall, the Indian sports market is expected to reach $2 billion, witnessing seven times its growth since 2008. Meanwhile, the Indian sports sponsorship industry (including sponsorship, media spends and endorsements) grew by 6 per cent, surpassing Rs 16,633 crore on a Y-o-Y basis.

 

“As the Indian sports industry continues its remarkable trajectory, we are witnessing a dynamic shift driven by both legacy and emerging sports,” said Ashwin Padmanabhan, chief operating officer, GroupM South Asia. “Cricket remains the cornerstone, but the rise of non-cricket athletes, the Olympic buzz and the digital revolution are reshaping the landscape. With brands increasingly recognising the power of sports as a platform for deeper consumer engagement, the momentum is undeniable.”

 

In all, the sponsorship segment rose by 1 per cent to Rs 7,421 crore compared to 2023. Media spends on sports content jumped by 7 per cent to Rs 7,989 crore. Karnik added that digital advertising alone saw a rise of 25 per cent in 2024.

 

Last year, sponsorship for cricket grew at only 3 per cent to Rs 14,173 crore on a Y-o-Y basis. This slow growth was due to the rights cycle reset for the Indian Premier League (IPL) and International Cricket Council (ICC), along with 20 fewer matches played by Team India in 2024.

 

Another major event that happened in 2024 was the formation of JioStar. The media giant now stands poised to play a critical role in the live streaming of cricket’s three major pillars—ICC tournaments, bilateral events of the Board of Control for Cricket in India (BCCI), and the IPL, the report stated.

 

Cricket’s share in the sponsorship industry declined by 2 percentage points to 85 per cent in 2024, while the emerging sports share rose by 2 percentage points to 15 per cent on a Y-o-Y basis.