Bob Lynch, our founder and CEO, shared thoughts and insights following a Wall Street Journal article on whiskey sales. Here’s what he had to say:

The Wall Street Journal reported that US whiskey sales declined in 2023 for the first time in over two decades, driven by shifting consumer behavior and economic pressures. But what does this mean for the 28th largest spending sub-category in sports sponsorships?

Here’s what the data reveals from:

🥃 New Business is Strong: Whiskey sponsorships in US pro and college sports remained resilient, with new deal spending outpacing lost deals 2-to-1 last year. Brands are doubling down to protect market share.

🥃 Growth and Open Opportunities: The category grew sponsorship spending by nearly 25% over two years, and less than half of US teams currently have whiskey sponsors—highlighting untapped opportunities.

🥃 Brand See ROI: Two years ago, 71% of whiskey brands had just one sponsorship deal. Today, that’s down to 50%, as brands expand their investments in the space.

With tightening markets and shifting consumer tastes, sports offer whiskey brands a way to connect with loyal, high-spending audiences. But competition is rising, with non-alcoholic brands and RTD (Ready-to-Drink) beverages gaining traction in sponsorships.

As long as cannabis and weight-loss pharmaceutical sponsorships remain restricted in sports, whiskey brands have a chance to dominate the alcohol category. The question is: Have we hit the peak of whiskey sponsorship growth, or is there still room to expand?

Check out Bob’s social post here.