From F1 to NASCAR: The Power of Racing Sponsorships
- April 9, 2024
- SponsorPulse Staff
Lights out. As the racing season accelerates, the world of motorsport is experiencing a G-Force phase of evolution and growth. With Formula One (F1) captivating a global audience through the hit Netflix series "Drive to Survive," Lewis Hamilton's bombshell move to Ferrari in 2025, and Max Verstappen's quest to defend his title with Red Bull Racing, the sport's appeal is undeniable.
Our data reports that NASCAR, however, holds a broader sway over the hearts and minds of the American audience. The recent launch of Netflix's "NASCAR Full Speed" is anticipated to further fuel the sport's growing fan base. The long and short of it? Motorsports sponsorship is an attractive place to be right now. Here’s why:
Off to the Races: Opportunity in NASCAR & F1 Sponsorship
Racing's Expanding Horizon
The growth of motorsports offers a compelling proposition for brands considering sponsorship opportunities in the racing space. Since 2019, NASCAR and F1 have witnessed a notable increase in engagement, with NASCAR surging by 32% and F1 by 21%, according to SponsorPulse data. This upward trend underscores the expanding appeal of motorsports and presents a ripe environment for brands looking to connect with a passionate audience.
But who exactly makes up that audience? The demographic breakdown reveals a consistent story across both sports. In two words: young men. For NASCAR, engagement in the United States over the past 12 months has predominantly come from males aged 25-39 (57%), followed closely by the 13-19 (56%) and 19-24 (53%) age brackets.
F1's engagement mirrors this trend, with American males aged 25-39 (55%), 19-24 (50%), and 13-18 (45%) tuning in.
Despite these similarities, few brands have managed to successfully sponsor both motorsports, highlighting a unique opportunity for businesses looking to diversify their marketing strategy.
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The Winning Formula of Sponsorship
As motorsports continue to capture the imagination of fans worldwide, the opportunities for brands to become part of this thrilling narrative only grow. Engaging with racing properties not only elevates brand visibility but also positions companies alongside the values of speed, quality and innovation that define these sports.
Brands such as Goodyear, GEICO, Verizon, Rolex and Heineken have reaped the benefits of sponsoring motorsports. Rolex and F1, in particular, are a match made in messaging heaven. The official timepiece of F1 aligns seamlessly with the sport synonymous with champagne showers and high-rolling excellence.
The impact of these partnerships is evident in the data: Across 20+ racing sponsorships analyzed by SponsorPulse, the average aided sponsor awareness stood at 55%, with a 39% average increase in brand favorability and a 37% increase in purchase intent among those aware of the sponsorship. Powerful stuff!
It’s Go Time
With the engagement in NASCAR and F1 on the rise and the demographic insights revealing a highly engaged and youthful audience, the time is ripe for brands seeking to explore racing sponsorships.
Access our free Benchmark Report today to discover how your brand can leverage the excitement and passion of motorsports to fuel your marketing strategy.
