World Chess and FIDE unlock sponsorship opportunity for small businesses in elite chess
() , a London-based chess gaming and entertainment company, alongside the International Chess Federation (FIDE) said they would allow small businesses to sponsor the Swiss Queens Wednesdays tournament, a major online chess series for female players. Sponsorship had previously been limited to large brands.
The initiative enables small businesses to sponsor the weekly tournament series exclusively, a step that and FIDE are hailing as a democratisation of elite chess sponsorship. The Swiss Queens Wednesdays series spotlights the talents of top female players and reaches a large and engaged global audience, giving SMEs weekly access to an affluent and educated demographic.
Online chess has seen significant growth in recent years, reaching 150 million users in 2022 out of a total est 600 million players worldwide. The sport appeals to all age groups, with strong engagement among young high-income adults. cites a study by YouGov showing that 78% of US players held university degrees, with a "significant" proportion earning above US$120k, and being 5x more likely to engage with media such as The New York Times and The Economist.
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World Chess, an organiser of online chess championships, alongside FIDE, the international governing body for chess, have opened up one of their major tournaments to exclusive sponsorship by small businesses. The move has the potential to significantly boost SME engagement in online chess, beginning with the aforementioned weekly tournament, and in turn ' sponsorship income.
The move makes sense in the context of online chess' rapid growth as part of the larger esports space. The global chess market was valued at US$2.5bn in 2023 and is projected to grow to $3.8bn by 2032, with rising interest fueled by pop culture and shows like The Queen's Gambit.
Granting exclusive sponsorship and first-mover advantage to small businesses will provide them with significant exposure across event materials, certificates, live broadcasts, and more, across World Chess and FIDE's platforms, which collectively reach 11 million people globally and have a combined following of 2.5 million.
In its most recent final results for FY23, forecast revenue growth of CAGR 43% between 2023 and 2025, with broker Allenby Capital placing an optimistic target price of 4.6p at the time of issue.
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