This year, notable athletes such as Blake Griffin, Ashlyn Harris, Flau’jae Johnson, Lando Norris, and the Kelce brothers traveled to Cannes.
Sports is a lucrative industry, especially when major companies gather to invest in live sports, teams, and individuals.
In response, many public relations firms are scrambling to establish sports practices.
Jasper Advisors, which was recently acquired by SKDK, is the latest company to establish a dedicated sports practice.
READ MORE: Increasingly, Cable TV Networks Are Turning To Sports To Stop Cord Cutting
Prosek Partners has announced a sports consultancy helmed by ex-NFL executive Jon Schwartz, and TrailRunner International collaborated with sports entertainment business Legend to launch a sports practice.
“Some of the most exciting things happening right now in business, culture, and society are occurring in the world of sports,” said Jasper Advisors founder Julie Jensen.
“Athletes, teams, owners, brands and groundbreaking partnerships are capturing our attention, bringing communities together and inspiring us to be our best,” she tweeted.
READ MORE: Lachlan Murdoch Sees Progress Toward A Sports Streaming Product
The broad picture: Sports is one of the only sectors that stays low-risk while attracting enormous, diversified audiences.
Furthermore, it allows marketers to enter communities in an honest way.
The Baltimore Orioles, now owned by business billionaire David Rubenstein, will wear a corporate brand — T. Rowe Price — on their jerseys for the first time.
Sports sponsorships improve brand indicators such as unaided awareness, favorability, and consideration, both immediately and over time. T. Rowe Price’s head of worldwide marketing, Theresa McLaughlin, stated, “Based on our market research, we know that our clients and prospects favor sports.”
READ MORE: Reinventing Broadcasting For Live Sports And local TV News Using Bonded Mobile
Corporate businesses are also coming to promote women’s sports, with sponsorship sales jumping by 22% in the last year, according to a recent industry analysis.
Gatorade is the most frequent brand sponsor, with 51 deals in women’s professional leagues, while the Ladies Professional Golf Association leads in sponsorship deals.
The name, image, and likeness (NIL) law has allowed for a more diverse roster of athletes and increased opportunities for collaboration.
PR agencies have already expanded their college and university offerings, and the addition of NIL will necessitate sports knowledge.
Bonus news from Cannes: X is in talks with sports leagues about creating new docuseries for the platform, according to CEO Linda Yaccarino at the Axios and Deep Blue Sports + Entertainment Women’s Sports House.
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