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Global sports events offer the best opportunity for growth in advertising and marketing, Chime Communications boss Tim Bell declared today.
Chime, home of Compare the Market advertising agency VCCP and public relations firm Pelham Bell Pottinger, has rapidly expanded into sports marketing, which is now responsible for 21% of revenues.
Lord Bell, who acquired sports marketing firm Essentially Group in December, reckons the division could generate 40% of income in four years.
"Sport is probably the biggest activity in the world," said Bell. "Sport is now about 60% of entertainment and even 50% in news.
"For the next 10 years, there are major sporting events taking place every year," he added, referring to the 2011 cricket world cup and the Olympics and European football in 2012.
Bell claimed Chime was better positioned in sports marketing than bigger rivals such as WPP.
Chime reported adjusted pre-tax profits rose 39% to £12.3 million in the first six months of 2010 — helped by increasing new business.
Clients included Qatar Holdings during its acquisition of Harrods, Richemont in its purchase of Net-a-Porter and Times publisher News International for its internet paywall advertising campaign.
Bell said: "I don't think there is going to be a double dip."
Chime shares rose 5.2% to 192p.
