Chime puts £1bn tag on World Cup
Wednesday 28 August 2013
Next year’s football World Cup taking place in Brazil is going to be an even bigger sponsorship bonanza than expected, according to marketing group Chime Communications.
“All the big sporting events are becoming bigger but the World Cup and the Olympics are becoming mega-bigger,” said chief executive Chris Satterthwaite, who reckons the 2014 World Cup could be worth $1.5 billion (£1 billion) in sponsorship against $1.1 billion in 2010.
Chime has won eight sponsors for the next World Cup — already more than it had last time. It is increasingly focused on sport, which makes up 50 per cent of profits in even years when big sports events take place.
But Satterthwaite admitted Chime had a “staggered growth profile” as the company grew less in odd years. First-half operating profit rose 1 per cent to £11.3 million, with like-for-like revenues down 4 per cent on to £77.8 million.
The sports arm, which is chaired by ex-Olympics boss Lord Coe, saw revenues plunge 29 per cent after tough comparisons with last year. However, Chime’s three other divisions — advertising, public relations and healthcare — all increased revenue and profit.
Its ad agency VCCP has just won supermarket group Asda’s £100 million ad account.
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