Swimming Australia bolsters 2020/21 profit despite sponsorship and broadcast transitions

Swimming Australia has advised that it posted a $1.3 million profit for the financial year ending 30th June 2021 despite a $2.6 million reduction in sponsorship revenue and shifts in its sponsorship base.

As reported by Sponsorship News, commercial highlights included the signing of financial services brand, MLC, as naming rights partner of the ‘dream builders’ program for aspiring Olympians and a two-year, live broadcast deal with Amazon Prime Video.

The latter resulted in major Australian events becoming available globally on the streaming platform.

Although stepping back from its ‘base’ sponsorship, Hancock Prospecting continued as a naming rights partner of the Australian Titles and Chair, Gina Rinehart, remained a swimming patron.

Other sponsors to end their involvement heading into 2020/21 included Optus and the Seven Network.

Digitally, Swimming Australia invested heavily in upgrading its online member portal as well as launching SwimTV, which provides a platform for live streaming of events.

This coincided with the governing body bringing its coaching workshops in-house for the first time.

Grants, although down $1.2 million from 2019/20, included $750,000 community swimming funding from Sport Australia that delivered programs to more than 35 organisations

The pandemic saw the postponement of national events and the cancellation of several international meets during both 2019/20 and 2020/21. Funding that had been allocated for athletes taking part in the international events will be carried forward to future financial years for corresponding competitions.

Overall, year-on-year revenue was down $1 million, but profit up $1.2 million on the 2019-20 financial year.

The Tokyo Olympics/Paralympics and the flow-on effect from Australia’s greatest successes at the games was not included in this report, as these took place between July and September 2021 and therefore will appear in next year’s report.