NASCAR, Formula 1, and the Growth of Racing
- July 28, 2023
- SponsorPulse Staff
The surge in engagement and audience value across these racing properties mirrors motorsport fans' adrenaline rush and unwavering passion. As a result, sponsors have a golden opportunity to connect with their target audiences like never before.
In today’s article, we're exploring motorsports' growth and sponsor value to help your brand understand how these racing properties compare and uncover sponsorship opportunities within these spectacles.
A Race To The Top
Despite the widespread belief that Formula 1 holds the crown for the best sponsorship value, data from the SponsorPulse platform paints a different picture in America. In the US, NASCAR reigns supreme, leading all other motorsport properties in sponsorship value.
Over the past five years, NASCAR has consistently outperformed the competition, proving its worth across various scores and categories.
However, this doesn't mean smaller motorsport brands are left in the dust. On the contrary, they have the potential to emerge as promising alternatives with impressive numbers to support their cause.
For example, Formula E and Moto GP show great potential, especially in the Intensity category, where they lead the board with a staggering 40% of their fans engaging with the property weekly, per SponsorPulse.
Formula E's focus on sustainability and cutting-edge technology attracts a forward-thinking audience, while Moto GP's thrilling races captivate motorsport enthusiasts worldwide.
Furthermore, the IndyCar Series, though less known than Formula 1, is a hidden gem, trailing the latter by only a few percentage points in only a few categories.
These numbers suggest many opportunities to tap smaller yet highly valuable audiences of dedicated fans exist within different motorsport properties.
Accelerating Brand Favorability
SponsorPulse measures the top opportunities for brands to boost brand favorability among motorsport enthusiasts. Here’s a breakdown of the brands with the most to gain and their respective favorability percentages associated with sponsoring specific properties:
NASCAR Sponsors
With its heart-pounding races and passionate fan community, NASCAR continues to soar in engagement levels, cementing its position as a top sponsorship choice.
According to SponsorPulse, the brand users that scored highest in Favorability - that is the % of brand users who are more favorable toward sponsors of NASCAR - were British Petroleum (BP) with 21%, and Audi, Uniqlo, and Bridgestone — all tied at second with 20%.
Formula 1 Sponsors
The pinnacle of motorsport, Formula 1, has steadily increased engagement, captivating global audiences with its glitz, glamour, and high-profile drivers.
According to SponsorPulse, the brand users that scored highest in Favorability for F1 were Grolsch at 23%, Alibaba at 22%, EA Sports at 22%, and Yokohama at 21%.
Formula E Sponsors
The future of motorsport is electric, and Formula E's engagement growth is a testament to its appeal among environmentally-conscious fans.
SponsorPulse data showed that brand users that scored highest in Favorability for Formula E were Yokohama and Uniqlo, tied at 19%, and Bridgestone at 18%.
IndyCar Series Sponsors
Although less well-known than its counterparts, the IndyCar Series is steadily gaining traction, presenting a unique chance for sponsor brands to connect with a niche yet devoted fan base.
Per SponsorPulse data, the brand users that scored highest in Favorability for the IndyCar Series were BP at 20%, Heineken at 18%, and Pirelli at 18%.
Moto GP Sponsors
The roaring engines of Moto GP bikes resonate with a growing audience, making it a hotbed for sponsor brands looking to make an impact.
Per SponsorPulse data, the brand users that scored highest in Favorability for Moto GP were Pirelli at 18%, Stella Artois, and Yokohama tied for second, at 17%.
Start Your Engines
Motorsports are a high-speed road for sponsor brands to accelerate their visibility and favorability. As fans rally around their favorite racing properties, sponsors can leverage this passionate engagement to create positive associations, gain a competitive edge, and leave a lasting impression.
Buckle up and let SponsorPulse be your co-pilot — create a free account to navigate the exciting world of motorsport sponsorships and find opportunities for your brand to shine on the race track and reach your brand enthusiasts worldwide.
