The Big Business of Marathons

Not one, but two athletes broke the sub-two-hour marathon record at the London Marathon last Sunday. Both wore Adidas’ new Pro Evo 3 super shoes. Sabastian Sawe set a world record of 1 minute 59.30 seconds; Yomif Kejelcha was second, just 11 seconds behind. Tigist Assefa also set a new women’s world record of 2:15.41 wearing the same shoe. Even Adidas’ arch-rival Nike congratulated Savi. Adidas generated $11 million in media impact value (MIV) at the London Marathon, driven primarily by the men’s and women’s records, according to Launchmetrics.

Adidas may be grabbing the headlines in London, but it’s not the only brand showing up at the London Marathon or the Boston Marathon the week before. From established brands like Nike and Adidas to challenger labels like On and Hoka, performance running brands have been sizzling up, active on a longer, larger scale, in an attempt to capitalize on the booming marathon opportunity, which was all but cemented last year when Harry Styles ran the Berlin and Tokyo Marathons before appearing on the cover of Fashion Magazine. runner’s world Last month, I was interviewed by marathon runner Haruki Murakami.

More runners are signing up for the World Marathon Majors than ever before, with year-on-year growth in registrations across all seven cities (Tokyo, Boston, London, Sydney, Berlin, Chicago and New York). In London, more than 1.13 million ballot applications were filed, a 36% increase from the record 840,318 in 2025. On Sunday, 59,830 runners crossed the finish line, up from 56,640 last year. All in all, marathons are a huge business opportunity.

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Sabastian Sawe breaks world record in adidas’ new super shoe.

Photo: Courtesy of adidas

Performance brand executives agree that the numbers grow significantly after race day. “The marathon has transformed from a single race day into a multi-layered cultural platform,” said Patrick Nava, general manager of adidas Running. “Ten years ago, success was largely defined by podium finishes and performance validation, largely confined to the realm of running. Today, the marathon sits at the intersection of stories of elite sport, mass participation, culture and innovation.”

As marathons shift from performance events to cultural platforms, more and more brands are responding to marathon events with larger programming (elimination events, pop-up centers, weekend programming) that cater to a wider audience (elite runners, recreational runners, running teams, off-site participants). The rise of running clubs is pushing brands to develop a more creative, grassroots and cultural image, said Alice Crossley, deputy foresight editor at strategic foresight consultancy Future Lab. “People used to look forward to game day, but now there’s a whole cultural lift,” she said.

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