The impact of the COVID-19 pandemic on the advertising and sponsorship industry in sport

  • Dejan Dašić Alfa BK Univerzitet, Fakultet za finansije, bankarstvo i reviziju, Beograd, Srbija
  • Miloš Tošić Visoka medicinska škola strukovnih studija Milutin Milanković, Beograd, Srbija
  • Velimir Deletic Akademija strukovnih studija Južna Srbija, Odsek za poslovne studije Blace, Srbija
Keywords: sport, COVID-19, advertising, sponsorship

Abstract

The globalization of today's market has conditioned that sport has today become one of the largest business and implies looking at the whole world as a possible market. There is no branch of industry that is not interested in cooperating with the sports industry or top sports clubs and athletes.The subject of this paper is the impact of the covid 19 pandemic on the advertising and sponsorship industry in sports. At a time when consumer indifference is becoming an increasingly insurmountable obstacle for the advertising industry, this branch of industry is facing an even bigger problem. At the same time, while many athletes and sports entities depend heavily on their sponsors, the vast majority of sporting events in the world have been canceled. Some athletes earn many times more from their sponsorship contracts than from professional contracts in their clubs, competitions, etc. Losing match revenue is another big concern for clubs and tournaments, especially smaller ones. It is not yet clear how the sports industry will overcome the problems caused by the pandemic, nor what kind of future awaits sports in the post-kovid 19 era.

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Published
2020-12-28
How to Cite
Dašić, D., Tošić, M., & Deletic, V. (2020). The impact of the COVID-19 pandemic on the advertising and sponsorship industry in sport. BizInfo (Blace) Journal of Economics, Management and Informatics, 11(2), 105-116. https://doi.org/10.5937/bizinfo2002105D