In 2018, sports sponsorship produced over $17 billion in revenue and will increase to roughly $20 billion by 2022. These numbers come from all different types of sponsorship deals, whether it’s with a small startup or with the biggest company in the world. There are many benefits of athlete endorsements for both the brand and the athlete because it can generate brand awareness and brand equity, resulting in more revenue. Additionally, the competitive advantage that a brand can receive by partnering with a professional athlete outweighs the cost of having to pay the athlete to promote the product. With that being said, here are some top brands that partner with professional athletes.
The Coronavirus pandemic has taken the sports world by storm, and athletes now have an unprecedented amount of time on their hands leading to an increase in the number of athletes on TikTok. Some are taking on new hobbies -see Giannis Antetokounmpo learning the guitar and Cody Zeller learning to cook and play the guitar (well, trying to). Some are doing their best to stay in shape at home- nice setup, Serge Ibaka! But most of all, athletes are more active and engaging on social media than ever before. The most interesting takeaway from this uptick in social media activity has been the increase in athletes on TikTok.