CAF To Make About $75m In Estimated Revenue For AFCON 2023

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The Confederation of African Football raised about $75m as revenue from the just concluded African Nations Cup hosted by Cote D’Ivoire.

According to GlobalData, a London-based market research firm, it is projected that CAF will generate approximately $75 million in sponsorship revenue from the current AFCON.

The tournament featured 17 commercial partners, including TotalEnergies as the title sponsor, along with 1xBet, Orange, and Unilever.

In the fiscal year 2021-2022, CAF’s overall revenue reached $103.6 million. The sponsorship funds derived from Competitions contributed significantly to this total, generating an impressive cumulative revenue of $79.8 million.

This marked a notable increase of $3.6 million compared to the previous year’s sponsorship funds.

The projected sponsorship revenue for the AFCON 2023 alone is estimated to be $75 million, underscoring the substantial and commendable contribution of CAF to this achievement.

In January, prior to the commencement of AFCON 2023, CAF disclosed a 40% increase in the prize money.

The champions, Ivory Coast, are set to receive USD 7,000,000. The Super Eagles of Nigeria will be awarded USD 4,000,000, while South Africa and DR Congo will each receive USD 2,500,000.

The other four quarter-finalists, Mali, Angola, Guinea, and Cape Verde, will individually get USD 1,300,000.

AFCON made a big impact on social media, from lively fan chats to live updates. But it wasn’t just for fun; some people also made money from it.

Last year, Twitter started an initiative where users could earn a share of the ad revenue from sponsored posts under their tweets.

Some folks partnered with brands, joined subscription programs, or got tips from their followers.

For example, a video of the final moments of the Côte d’Ivoire vs. Nigeria match, posted on the official CAF account, got over 15 million views, 1.5 million likes, and 300,000 retweets.

According to Statista, the average cost per thousand impressions for social media ads globally was $4.33 in the second quarter of 2023, making the estimated ad revenue around $65,000.

The 2023 Africa Cup of Nations was undoubtedly a success both on and off the field. The Confederation of African Football, CAF can take pride in organizing a splendid tournament.