Formula 1 Sponsorship
The Formula 1 World Championship, founded in 1946, is the highest category of single-seater open-wheel cars and one of the world's major sporting competitions. It is the best-known motorsport championship in terms of engineering and technological development. With 23 Grand Prix around the world over 10 months, Formula 1 attracts fans to the TV and the track from all over the world. Becoming a Formula 1 sponsor also means entering the top echelons of business and technological areas, as well as having marketing opportunities on a global scale. But to do it right and also understand an overall Formula 1 sponsorship cost, you need a Formula 1 sponsorship agency.
A mix of prestigious brands and passionate fans
Today, Formula 1 embodies some unique values that are quickly transferred to the brands that sponsor the competition. Passion for the sport is the primary driver for brands that want to be known by millions of people. Add to that innovation, technology and teamwork, which are core values of the sport and many of the world's great companies.
Choosing to develop a Formula 1 sponsorship program means becoming part of an exclusive and prestigious club: the world's most influential brands and companies are members. Formula 1 is not only a vehicle for B2C but also B2B, a new frontier in the world of sponsorship. The marketing opportunities related to Formula 1 are diverse and adapted to the needs of each sponsor, such as visibility on the cars, digital campaigns, media relations, as well as hospitality on the circuit and experiential events.
A huge global audience
Due in part to the spectacular Hamilton-Verstappen duel right up to the last Grand Prix, Formula 1 in 2021 recorded a 4% growth in cumulative TV audience compared to 2020, totalling 1.55 billion viewers and 445 million unique viewers.
The average audience per Grand Prix in 2021 was 70.3 million (compared to 60.3 million in 2020, but taking into account only 17 races held due to the pandemic).
Excellent results in a number of key markets (year-on-year): +81% Netherlands, +58% USA, +48% France, +40% Italy, +39% UK.
The unstoppable growth of the digital channels
Formula 1 is the fastest-growing series on social platforms among the top sports competitions.
F1 counts 49.1 million followers on the main social media platforms (Facebook, Instagram, Twitter, YouTube, TikTok, Snapchat, Twitch, and Chinese social networks) and they have increased by 40% since 2020. Total F1.com, F1 app, and social media video views have increased by 50%, reaching 7 billion views.
In China, followers on social platforms Weibo, WeChat, Toutiao, and Douyin have increased by 39%, reaching a total of 2.7 million users.
Overall, Formula 1 is outperforming other major sports in the digital arena, with the share of total minutes watched increasing to 16% in 2021.
How sponsorship works in Formula 1
It is very important to underline that the most important sponsorship agreements have been signed with brands from very important sectors in Formula 1: logistics, a key component in the organization of the championship, with DHL as a Global Partner of F1 and Ceva Logistics as a Team Partner of Scuderia Ferrari; IT (technology) brands such as Cognizant and Oracle, respectively Title Sponsors of Aston Martin and Red Bull teams, given that Formula 1 has always been at the forefront in this sector; and finally other no less essential sectors, such as the banking sector with Banco Santander, Premium Partner of Scuderia Ferrari, and the petrochemical sector with Ineos, Principal Partner of Mercedes F1 Team.
What does a Formula 1 Sponsorship Cost?
All is well and good, but what does a Formula 1 sponsorship cost? Considering the premium and global profile of the sport, there is a tendency to think that sponsoring Formula 1 necessarily has high costs, also given the fact that the major teams are perceived by fans as technology and sporting excellence. The reality is quite different: sponsorship in Formula 1 offers a very wide range of sponsorship opportunities that can vary from a few million euros, for more tactical sponsorships, to 100 million euros for more structured agreements. Only a Formula 1 sponsorship agency can guide you effectively.
Drive Sports Marketing is a Formula 1 sponsorship agency
Drive was born out of the knowledge that a strategic and authentic sports sponsorship can be one of the most effective elements of a marketing strategy, if it is well-planned, structured, and activated.
That is why our team is made up of dynamic and experienced sports marketing professionals who, with passion, help our clients achieve superlative and measurable results using motorsport, from Formula 1 to MotoGP to Formula E, via the WEC.
Our experience and vertical expertise in sponsorship in the world of Formula 1 can help your company with different services to meet your different requirements.
If you are wondering how to sponsor Formula 1, all you have to do is write to us.
Drive Sports Marketing helps you build the best sponsorship program, starting from the conception of the sponsorship plan to the signing of the contract.