Mumbai: After an electrifying performance in 2023, athlete endorsements in India have outdone themselves in 2024, registering an impressive 32% year-on-year spike.
This marks the highest annual growth rate in 14 years, demonstrating the phenomenal rise in the influence of sports celebrities in the country. Brands are increasingly recognising the value in associating with these stars, and this, in turn, is leading to more high-value partnerships.
GroupM Sporting Nation’s 12th Edition has been published. The Olympics proved to be the prime mover in the endorsement space beyond cricket, as brands went faster, higher and stronger with athletes from emerging sports.
The total endorsement spending has crossed the Rs. 1000 Crore mark for the first time, reaching Rs. 1224 Crores ($ 146 million) – almost double the figure from just three years ago! The particularly exciting part of this trend is that this incremental delivery has come from a broad range of sports. While cricketers continue to dominate the scene with significantly higher average deal values, athletes from emerging sports are also seeing substantial gains, driven by their on-field inroads. It is heartening to see the commercial success of sportspersons from disciplines that do not have a cricket-like following, and it signals a wider appreciation for these performers and their ability to engage with sporting enthusiasts across the country.
These figures not only highlight the growing market value of athletes but also emphasise their rising status as cultural icons. As our champions continue to excel globally, their ability to connect with audiences and shape national sentiment is becoming increasingly undeniable.
Cricket has long been the nation’s sporting heartbeat, producing some of its biggest icons. Brands, therefore, have placed immense faith in these stars, making them central to their marketing strategies. The industry’s growth in recent years has been fuelled by the sport’s all-pervasive appeal, and 2024 saw the trend continue unabated. Our favourite superstars achieved a stellar 30% rise over the previous year, pushing cricketer-led brand endorsement value to Rs. 1,054 Crores ($ 125 million).
This increasing run rate is an endorsement for the deep connection these players share with a vast cross-section of fans in India. The men’s ODI team’s performance in the ICC World Cup 2023 played at home was nothing short of remarkable and it truly captured the imagination of the nation. Though they stumbled at the final hurdle against Australia, the entire nation rallied behind the boys.
This enthusiasm peaked in June when Team India clinched the T20 World Cup in Barbados, overcoming South Africa in a historic triumph. This win, our first ICC Trophy in 11 years, sparked emotional celebrations across the country, as the fanfare reached a crescendo in the celebrations that unfolded back home in the days that followed this morale-boosting victory. Among cricket’s commercial heavyweights, Virat Kohli remained a dominant force in the endorsement arena, continuing his streak of marketability. Rohit Sharma, who led the side across formats, kept his scoreboard ticking in the brand space as well.
Meanwhile, former skipper MS Dhoni was like the impact player here, making the fans go into a frenzy when he takes the field at the IPL, the only competition he participates in, these days. The endorsement pull of the Little Master Sachin Tendulkar could seem counterintuitive to the uninitiated, given that he last played the sport more than a decade ago. Among younger stars, Rishabh Pant and Shubman Gill have garnered impressive portfolios for themselves. Other prominent names that feature in the list include Team India stalwarts like Jasprit Bumrah, Suryakumar Yadav, Shreyas Iyer, KL Rahul, and Hardik Pandya. In women’s cricket, established players like Smriti Mandhana and Harmanpreet Kaur strengthened their partnerships with brands even as Shafali Verma, Jemimah Rodrigues, Shreyanka Patil, Radha Yadav and Yastika Bhatia made strides in the endorsement space. Cricket is the bedrock of the Indian sports economy, with its stars wielding considerable influence both on the game and beyond. The past year has only reinforced their commercial magnetism, as India’s No. 1 sport contributed 86% to the endorsement pie in 2024.
The extraordinary rise of athletes from emerging sports:
While cricketers cleared the ropes and set new endorsement landmarks, the year was notably exceptional because of the extraordinary rise of athletes from emerging sports. 2024 was the year of the Summer Olympics, and carrying the aspirations of the nation were the 117 participants who represented us at the Games in Paris. India finished with an impressive tally of six medals, and we came close to winning a few more as our top guns competed meritoriously at the biggest multidisciplinary sports fiesta in the world.
The Olympics proved to be the prime mover in the endorsement space beyond cricket, as brands went faster, higher and stronger with athletes from emerging sports – the YoY growth standing at a whopping 46%. With a total value of Rs. 170 Crores ($ 20 million), the lift amounted to nearly half of the base value itself! Among the breakout stars, Manu Bhaker proved to be quite the revelation, winning two Bronze Medals and almost securing a third one as well. She became the first Indian woman to win a shooting medal by coming third in the 10m Air Pistol individual event.
What followed was equally amazing, as Manu partnered with Sarabjot Singh to repeat the feat in the mixed event too – becoming the first athlete from independent India to win two medals at the same Olympic Games. Just like she was on the bull’s-eye at the Games, brands were right on target too, as Manu had a very successful year in terms of endorsements. Her accomplishments, on the shooting range and with respect to earnings, will serve as an inspiration for many youngsters from emerging sports.
When we talk of Indian athletes becoming world-beaters in individual disciplines, the one name that crops up instantly is that of Neeraj Chopra. As he entered 2024, he was already an Olympic Gold Medal winner and a World Champion. Hence, expectations are always high from Neeraj, like in the case with our cricket team. At Paris, he didn’t disappoint either, as he hurled the javelin to a silver medal winning distance.
The same is the case with PV Sindhu – with Olympic medals in Rio and Tokyo, she had been a smashing hit with brands in the past, and 2024 was no different. Icons like Neeraj, Sindhu and Manu will certainly strengthen the multi-dimensional fabric of the sports endorsement arena in the country.
There is a rich talent pipeline in Indian sports, be it in cricket or in other disciplines. While the current superstars like Virat, Rohit and the others carry the expectations of the nation through the ebb and flow of the competitive cricket calendar, the system continues to produce youngsters who are knocking on the doors of stardom. We have players like Yashasvi Jaiswal, Tilak Varma, Rinku Singh and others, who are getting ready to shoulder more responsibilities. The same goes for other sports too. D. Gukesh, who became the pride of the nation by winning the FIDE World Chess Championship, leads a host of chess prodigies who could make the moves to take India to a completely dominant position in a sport that originated here.
Badminton players like Lakshya Sen and the doubles duo of Satwik and Chirag, the key hockey players who are taking us on the path of ascendancy, Olympic medal winner Aman Sehrawat and other rising wrestlers, our young boxers, weightlifters and shooters – all represent a generation of athletes from emerging sports who are on the cusp of even bigger wins on the world stage. The affirming sign here is that fame and riches are just by-products of their achievements in events around the world and the glory they bring to the Sporting Nation through their effort, determination and talent.
