SPONSORSHIPS ON THE RISE
By Adnews Staff
North American companies will increase sponsorships 15% this year, pushing spending up to $5.4 billion(US), according to IEG of Chicago. IEG sees the growth as largely due to companies new to sponsorships getting into the act, and to corporations attaching themselves to the Olympics Games this summer. Sports sponsorships will account for about two-thirds of total spending, followed by pop music/entertainment tours at 10%. Philip Morris Cos. and Anheuser Busch Cos. spent the most on sponsorships last year, each boosting spending from $110 million to $115 million (US).
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