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May 28 (GMM) Formula 1’s approach to sponsorship under the now eight-year reign of American mass media company Liberty Media continues to intensify.
When the Bernie Ecclestone era ended in 2017, the former F1 supremo had shied away from consumer tech and entertainment-related partnerships, focusing instead on traditional industries like banking, oil and logistics.
In the Liberty era, characterised by a Netflix series and now an official movie starring Brad Pitt, the focus has turned to attracting a younger audience with a higher percentage of female interest.
As such, the consumer brands have flooded in – the latest being Pepsi, and its brands Gatorade and Doritos. And as Kronen Zeitung newspaper notes, “Red Bull is now facing brand competition in Formula 1.
“The premier class of racing has agreed a long-term deal with PepsiCo, and will thus have an official energy drink” called Sting. The video announcing the Pepsi deal ended with the familiar eyes and nose of Daniel Ricciardo behind a helmet visor.
Gatorade will be the official sponsor of F1’s Liberty-instigated sprint races, while other major brands including Disney, Lego, Hot Wheels, Kit Kat and even McDonald’s are also all now part of the sport.
Thomas Josnik, the motorsport boss at Puma, told the Financial Times that the “much wider and much younger audience” in Formula 1 had made the sport “much more attractive”.
“It’s not about the pure sport anymore,” he added. “It’s more about the entire culture and the entire culture around the sport, including fashion, celebrities, and music.”
Jonathan Jensen, a consultant and academic with a key interest in F1, explained: “With five events in North America now, it’s much easier for brand marketers in the west to justify the spend.
“F1 drivers and teams became much more recognisable in the US, which enabled consumer brands to more readily activate F1 sponsorships effectively in the American market.”
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