World Chess and FIDE Open Major Tournament Sponsorship to Small Businesses
World Chess (CHSS) and the International Chess Federation (FIDE) have announced a groundbreaking initiative that will allow small businesses to sponsor the Swiss Queens Wednesdays tournament, a major online chess series for female players. This move marks a significant shift in elite chess sponsorship, opening up opportunities for SMEs to engage with the affluent and educated demographic that follows the tournament.
Online chess has been experiencing a surge in popularity in recent years, with 150 million users in 2022 out of an estimated 600 million players worldwide. The sport appeals to a wide range of age groups, with a particularly strong engagement among young high-income adults. A study by YouGov revealed that 78% of US players hold university degrees, with a significant proportion earning above US$120k and being 5 times more likely to engage with media such as The New York Times and The Economist.
The decision to allow small businesses to exclusively sponsor the Swiss Queens Wednesdays series is expected to boost SME engagement in online chess and increase CHSS’ sponsorship income. With the global chess market projected to grow to $3.8 billion by 2032, the move comes at a time of rapid growth for online chess, fueled by popular culture references like The Queen’s Gambit.
Small businesses that take advantage of this exclusive sponsorship opportunity will receive significant exposure across event materials, certificates, live broadcasts, and more, reaching a global audience of 11 million people through World Chess and FIDE’s platforms. This move is expected to have a positive impact on CHSS’ revenue growth, with a forecasted CAGR of 43% between 2023 and 2025.
Overall, the decision to democratize elite chess sponsorship by allowing small businesses to sponsor the Swiss Queens Wednesdays tournament is a game-changer for the online chess community. It opens up new opportunities for SMEs to connect with a highly engaged audience and marks a significant step towards inclusivity in the world of chess.