Money spent on sponsorship deals are set to rise 4.9% this year, with most of the cash going on sports as it offers engaged, multi-screen audiences, according to data by the World Advertising Research Center (WARC).
The report further highlighted how brands and companies are set to spend $65.8bn on sponsorship deals in 2018 without being sure of the return on investment (ROI).
North America will receive the greatest share of sponsorship money from brands, with $24.2bn followed by Europe with $17.6bn, Asia-Pacific with $16.6bn, Latin America with $4.6bn and the Middle East and Africa with $2.8bn.
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Source: The Drum