How big companies earn by sponsoring events?

I have often seen major companies sponsoring events - I suppose they make some money out of it? If not, what’s their motivation to sponsor events about a third party which they are not concerned with?

Big companies may not always earn by way of cash or real money. But sponsoring events does help them increase their revenue through a number of ways. I can list a few of them:
1 - First and foremost - it helps them build their brand value - makes a lot of people coming to the events learn about them. Increased brand awareness, in short
2 - Advertising - the sponsoring company can advertise their products and services, which is again an indirect way to earn from sponsoring these events.
3 - Connecting and networking with people working in the same field - so better overall targeting of customers.
4 - Learning about what their customers / target audience wants - this is a relatively underrated benefit of sponsoring events. If a company sponsors an event, it wants to reach out to people coming to the event and connect with them to know what they want in products, what are their challenges in using their products and so on.

Overall, sponsoring events helps companies increase their brand value and make money in indirect ways, and so it’s a win win.

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I have been to a couple of such events. Lots of free food!