Most
carnival groups are finding themselves signing up for corporate sponsorship
deals worth up to £300915.00 (1182600.00 reals) with some of the biggest bands
in Brazil including air carrier TAM S.A. TAM -1.07% ,
brewing giant AmBev and Itaú Unibanco Holding S.A.ITUB -0.70% to
sponsor the event. The backstreet glitz of Carnival has morphed into an
altogether different best. This year the festival is aiming to make 1.5 billion
reals mainly for the hospitality industry. Big named sponsorships and
international interest has increased the ticket prices which most Brazilians
can’t afford which courses a growing number of illegal street parties.
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