News article
Measuring the social value of sport
TTB Sport and GIST Impact had linked up with the aim of accelerating the sports industry’s adoption of social value as a key decision-making tool.
TTB Sport is an investment, advisory and marketing group focused on sport, while GIST Impact is an impact data and analytics provider that measures, quantifies and values corporate impact on society and nature.
The collaboration has resulted in the development of a Social Value Calculator ‘XI’ (eXpected Impact), which has been designed to quantify the financial and non-financial contributions of sports to society. The aim is to make sure the sports industry thinks of social impact first, helping rights-holders, brands, investors and media integrate societal value into strategic decision-making.
“We believe sports rights-holders, brands and funding organisations are under increasing pressure to demonstrate their impact beyond profit and the number of fans and participants they engage,” said TTB Sport Chair Sir Andrew Strauss.
“Today’s younger, more purpose-driven generation are holding such organisations to a higher standard and expect social impact to be at the core of their offering. Our social value calculator XI is designed to help sports organisations and its investors address these challenges.”
“Today’s younger, more purpose-driven generation are holding such organisations to a higher standard and expect social impact to be at the core of their offering."
XI will quantify the social value of any sport in monetary terms, detailing its overall contribution to society; it will identify revenue-generating opportunities across the public, private and third sectors; and it will provide an innovative way to assist decision-making for investment sport.
“Sport is a game of numbers – goals scored, seconds shaved, and milestones achieved. With XI, our social impact calculator developed in collaboration with TTB Sport, we’re bringing the same precision to measuring social impact. By quantifying what matters, XI empowers decision-makers to turn insights into action, driving meaningful change on and off the field,” added Mahima Sukhdev, GIST Impact’s Senior Vice President of Commercial Development.
Image: Stefan Lehner on Unsplash