North American sponsorship spending will increase by 4.3% over last year’s $19.8 billion to reach $20.6 billion in 2014, according to the latest sponsorship report from IEG. This year’s forecast is more muted than last year’s, which projected an increase of 5.5%. That didn’t materialize, with total sponsorship spending in North America growing by 4.5%, per the report. As with last year, sports sponsorship spending is expected to grow most rapidly.
This year, IEG projects that North American companies’ sports sponsorship spending will grow by 4.9% to reach $14.35 billion, or about 70% of total sponsorship spending. Still, that forecast is below last year’s expectations (6%) and actual growth rate (5.1%). Read the rest at MarketingCharts.