The party that provides the support is the sponsor. 

There are four main kinds of sponsors:

  • Financial Sponsors: Provide general financial support.
  • Media Sponsors: Secure advertising for an event. 
  • In-Kind Sponsors: Provide goods or services instead of direct financial support.
  • Promotional Partnerships: While this seems similar to media sponsors, promotional partners are typically individual figures (such as celebrities or influencers) instead of companies and media organizations.

Check out six real-world examples on how companies like Coca-Cola, Pepsico, the NFL, Nike, and Rolex use sponsorships as marketing opportunities here.