Sports sponsorship revenue surged in 2023, and Coca-Cola led the way

It’s been a heck of a year in the sports and entertainment world—and no, we’re not just talking about Taylor Swift and Travis Kelce, aka what could be the biggest sports and music crossover event of our lifetimes.

Naturally, brands wanted in on all that action on and off the field. Team sponsorship revenue for major men’s pro leagues in the US increased by more than 17%, while women’s leagues experienced a 35% increase, according to a report from SponsorUnited, which reviewed sports and entertainment partnerships from the past year.

Big sip: One soda brand was unrivaled in terms of number of sports sponsorships in 2023, and also topped the list in terms of deals in other entertainment categories. That brand? Coca-Cola, which clocked 938 deals with global sports properties this year, according to SponsorUnited.

• That’s almost double the amount of rival Pepsi, which had the second highest number of sports sponsorship deals this year, with 499. PepsiCo’s Gatorade brand was No. 3, with 493.
• Other top sports sponsors included Adidas and Nike, which came in at No. 4 and 5, respectively, while Puma was No. 15 on the list.
• Nike and Adidas, however, were the top two brands by number of deals with international athletes as opposed to properties. Puma was No. 5.
• Three beer brands made the sports properties list (Bud Light, Michelob Ultra, and Budweiser), as did two automakers (Toyota and Ford), and two fast-food chains (McDonald’s and Chick-fil-A).

Coca-Cola also topped the list when it came to deals with celebrities and influencers, having inked 41 this year, per the report. Amazon and L’Oréal were close seconds, with 38 deals each. The soft-drink brand scored the top spot in terms of musician partnerships as well, of which it had 17.

Home run: Though the NFL brought in the most sponsorship revenue of any US men’s pro league at about $2 billion, a 14% YoY increase, MLB saw the biggest increase at 23%. That’s in part thanks to the league’s decision to allow jersey patch sponsors this season, according to the report.

During MLB’s first year selling that asset, the league earned $129 million in total team jersey patch revenue across 16 teams, the report estimated, with the median price for a patch at $6 million dollars.

• MassMutual, which has a jersey-patch sponsorship with the Red Sox, has been experiencing a boost in brand awareness as a result, Marketing Brew previously reported.

The NHL, in its second year selling jersey patches, brought in an estimated $93 million in revenue for its 2022–2023 season, with 13 teams unsold. The NBA did an estimated $216 million in jersey sponsorship revenue for its 2022–2023 season—the seventh during which it allowed jersey patches—with five teams unsold. And MLS made $136 million in patch revenue in 2023, its 17th year with the asset, the report estimated, with only one team in the league going without a jersey sponsor.