MLB team sponsorship revenue rises 20% to US$1.9bn

Jersey patch sponsorships climb 59% to total US$204m, with 20 active deals.

Major League Baseball (MLB) team sponsorship revenue has increased to nearly US$1.9 billion in 2024, marking a 20 per cent increase from last season, according to a SponsorUnited report.

Confirmed:

  • MLB collective sponsorship rises 55 per cent compared to 2022
  • Construction and industrial sector sponsorship increases 45 per cent year-over-year
  • Jersey patch deals see 59 per cent revenue increase, totaling US$204 million in 2024
  • Seattle Mariners’ Justin Turner ranks as the league’s most-endorsed player, with 20 active deals
  • Cincinnati Reds lead the league in new sponsorship deals, only team across US major sports to eclipse 200 deals

Context:

The revenue growth recorded by MLB has been driven by more than 325 new sponsorships across 30 categories. Alongside construction, companies from the automotive and insurance sectors have been among the top brands increasing their investment in MLB sponsorship, according to SponsorUnited’s report.

The report also notes that since Shohei Ohtani joined the Los Angeles Dodgers, the presence of Japanese brands in MLB ballparks has increased 218 per cent over the past two seasons. All told, 25 Japanese brands have seen league-wide exposure, with Cygames, Infroneer and Sateraito Office among the most notable.

Comment:

‘MLB is experiencing a convergence of forces driving unprecedented growth,’ reads the Sponsor United report. ‘Recent rule changes have enhanced the fan experience, while the league’s global reach continues to expand, fueled by the star power of players like Shohei Ohtani, attracting significant international dollars.

‘This season’s 20 per cent spike in sponsorship revenue, nearing US$2 billion, is also propelled by the maturation of assets like jersey sleeve patches and the strategic use of digital platforms. Together, these elements showcase how MLB is capitalising on a perfect blend of local engagement and global appeal to attract new brands and fans alike.’

Credit: https://www.sportspromedia.com/news/mlb-team-sponsorship-revenues-2024-sponsorunited/