The month-long Euro 2020 championship continues over the next couple of weeks before the final takes place on July 11.
You won’t see anyone in a Chinese jersey on-field, but China is heavily involved.
Chinese businesses are capitalizing on Euro 2020, attracting new customers and gaining exposure in existing markets.
- Alibaba-affiliate Alipay agreed in 2018 to an eight-year partnership with UEFA that’s worth about $238 million.
- By 2025, home appliance company Hisense, another sponsor of this year’s tournament, hopes to generate half its revenue, a projected $23.5 billion, from overseas.
Two billion people watched the last Euro championship in 2016, and the numbers look promising this year, too.
The tournament is averaging 965,000 U.S. viewers per game, a 33% increase from five years ago. Four matches from this year’s competition have already made it to the top 10 in all-time Euro viewership.
Until China produces an international-level soccer team — which it is actively working to accomplish over the next decade — sponsoring events in other countries may be the best bet for the country’s businesses.