Total global corporate spending on sponsorships is slated to increase by 4.2% this year to $53.3 billion, forecasts IEG in a new report. That represents a slowdown from 5.1% year-over-year growth in 2012 and 2011. Still, in North America, the outlook for 2013 is optimistic, with spending predicted to grow by 5.5% to $19.9 billion, after more muted growth (4.4%) last year. In North America, sports will continue to capture the lion’s share of spending, at 69% share of all sponsorship dollars.
Sports will rake in $13.8 billion in North American sponsorship spending this year, a projected increase of 6% from last year’s $13 billion. Next on the list, entertainment, predicted to grow by 5.1% to $2 billion, following 4.3% growth last year. Other significant categories to capture North American sponsorship spending will be causes (+4.8% to $1.8 billion), arts (+3.3% to $920 million), festivals, fairs and annual events (+2.9% to $849 million), and associations and membership organizations (+4% to $572 million). In each case, the projected growth rate this year exceeds the year-over-year increase from 2012. Read the rest at MarketingCharts.