World Cup expected to score £1bn sponsorship
Next year's football World Cup taking place in Brazil is going to be an even bigger sponsorship bonanza than expected, according to marketing group Chime Communications.
"All the big sporting events are becoming bigger but the World Cup and the Olympics are becoming mega-bigger," said chief executive Chris Satterthwaite, who reckons the 2014 World Cup could be worth $1.5bn (£1bn) in sponsorship against $1.1bn in 2010.
Chime has won eight sponsors for the next World Cup – already more than it had last time. It is increasingly focused on sport, which makes up 50% of profits in even years when big sports events take place.
But Satterthwaite admitted Chime had a "staggered growth profile" as the company grew less in odd years. First-half operating profit rose 1% to £11.3m, with like-for-like revenues down 4% to £77.8m.
The sports arm, chaired by ex-Olympics boss Lord Coe, saw revenues plunge 29% after tough comparisons with last year. However, Chime's three other divisions – advertising, public relations and healthcare – all increased revenue and profit.