Fast Track study says sponsorship budgets will rise in 2013 off back of London 2012

FastTrackSponsorship budgets will rise in 2013 as a direct result of London 2012 – that’s the headline to come out of new research conduced by Fast Track and Opinion Leader Research. According to the study entitled London 2012. What the insiders really thought… and said… and its relevance for 2013 and beyond, sports sponsorship and activation budgets should see a strong boost over the next 12 months as brands seek new opportunities following the largest sporting event in the world.

The Fast Track report shares the results of a survey of over 50 industry voices including LOCOG, BPA, BBC, Sony, Land Rover and Sport England and revealed that nearly half of the brands surveyed believe they will now spend more on their sponsorships and three-quarters of brands believe new sponsors will enter the market.

Said Lord Sebastian Coe: “London 2012 was without doubt an important commercial event, breaking all previous OCOG records for sponsorship income and prompting some of the most far-reaching marketing and sponsorship activation programmes ever seen around a summer Olympic and Paralympic Games. Inevitably this will have impacted our industry, both in the UK and beyond, providing food for thought for brands, governing bodies and agencies alike.”

The research suggests that there will also be a greater focus on major multi-sport events, starting with the 2014 Commonwealth Games in Glasgow.

Lord Coe, who also remains chairman of LOCOG until May, added: “The London 2012 Olympic and Paralympic Games was a hugely powerful and successful sporting and cultural event for the whole nation.

“There have already been a number of learned pronouncements on the outcomes of London 2012 both commercially and from a brand perspective, but it’s interesting to see that this research has unearthed some intriguing details as it comes from those at the very heart of sport.

“From the research, it’s fair to say that companies that live and die by their ability to understand what young people are doing are actually probably more accurate and effective drivers of sport participation than public sector initiatives.”

These sentiments have been echoed by Andy Westlake, chief executive officer of Fast Track. He said: “We’ve seen in the past the successes of other major events in terms of attracting sponsors to sport, but I don’t think anyone will have seen anything quite like this. In an increasingly fragmented communications market, sports sponsorship allows brands to get right within a targeted consumer’s sweet spot.

“The increasing importance of sponsorship to brands is obvious and there is a fantastic opportunity here to back sports whose profiles have risen incredibly.”