FRIDAY PRESS REVIEW I 22 MARCH 2024
Here are some of the most interesting articles of the last weeks selected by The Consultancy Group:
EUROPEAN SPORTS SPONSORSHIP MARKET WORTH RECORD €21.98BN IN 2023
SPONSORING - The ESA Sponsorship Market Overview, which was co-produced with Nielsen Sports, found that Europe’s sponsorship market increased its total value by 6.2 per cent year-over-year (YoY) to €30.86 billion (US$33.6 billion). The total market volume recorded last year exceeded the previous record total of €30.69 billion (US$33.42 billion) that was measured in 2019, the year prior to the Covid-19 pandemic.
The ESA found that Iceland and Poland were the fastest growing markets last year, increasing their value by 19 per cent. Meanwhile, Germany remains the largest sponsorship market in Europe with a €5.7 billion (US$6.2 billion) valuation, keeping it just ahead of the UK, whose market was worth €5.13 billion (US$5.58 billion)... More HERE
3 THINGS TO CONSIDER BEFORE YOU BUY YOUR NEXT WATCH
LUXURY - It’s been an interesting few years in the watch industry to say the least. Looking at 2023 alone, Swiss watch exports hit a record $31 billion and Rolex sales hit $10 billion for the first time. While prices fell by about 13 percent across the board in the secondary market, pre-owned watches continue to be a more than $22 billion dollar business with powerhouse brands like Rolex rolling out their own certified pre-owned programs—plus, studies still estimate pre-owned models will outsell new models in the next decade... More HERE
RIOT GAMES SHAKES UP LEAGUE OF LEGENDS FRANCHISE BUSINESS MODEL
E-SPORT - Game developer and publisher Riot Games has announced a new business model for franchised League of Legends teams, which will see focus shift from sponsorship revenue sharing toward sharing proceeds from in-game digital purchases.
The changes, outlined in a blog post by John Needham, President of Esports at Riot Games, are intended to generate more revenue for teams and reduce reliance on sponsorships amid an industry downturn...More HERE