There are some new faces on the Formula 1 grid this season—and not just the five rookies on teams like Mercedes and Alpine.
In addition to making changes to their driver lineups, many F1 teams spent the short offseason inking deals with brands. That included Williams Racing bringing on software company Atlassian as a title sponsor, Aston Martin signing Coinbase as an official crypto partner, and the reigning constructors’ champion McLaren Racing adding lottery operator Allwyn to its sponsor roster.
The Formula 1 organization also has several new partners, including consumer-facing brands like Lego, KitKat, and Belvedere, marking a shift in a space that’s largely known for attracting B2B and tech companies.
With US viewership of the sport having nearly doubled since 2018, it’s perhaps not surprising that brands are showing interest. But with just 20 drivers and cars on the grid, inventory is limited—making F1 competitive not only for racing teams but also for the marketers looking to capitalize on the sport’s growing popularity.
“Everyone feels like it’s a new golden era,” James Bower, commercial director for Williams, told Marketing Brew. “The audience is demonstrably changing. It’s becoming more attractive to a wider range of brands, and now we’re seeing B2C brands, luxury brands, technology brands, invest at a scale that has been rare before.”
Continue reading here about the brands betting big on F1.—AM
|