London, 16.03.16 – As F1 prepares for the start of the 2016 season this weekend, Repucom releases its new F1 2016 Report and takes a deeper look at how the commercial landscape of the sport is shifting.
Team, driver and race sponsors currently invest just under £1bn every year into the sport, a figure which has remained largely unchanged for the last three seasons.
However, the type of companies investing in F1 has shifted from those targeting the consumer to companies selling to other businesses, with industries such as IT hardware and software providers becoming more prevalent. At the same time, whereas once brands engaging in F1 were largely based around sponsorship and branding, they are now increasingly concerned with creating partnerships.
F1 SPONSORSHIP REPORT 2016 - Free download
As the 2016 season gets underway, Repucom’s F1 2016 Report examines Formula One’s commercial and media landscape and takes an in-depth look at how some of its most storied teams are diversifying, applying the lessons learnt on the race track elsewhere – important insights for anyone already investing in Formula One, or looking to do so soon.Download the free white paper
Nigel Geach, SVP of Motorsport, Repucom, said: “We’re starting to see a real shift in the commercial landscape of F1, where once brands were really only concerned with logo visibility and the global TV exposure the sport offered, to one much more centred on companies utilising their F1 partnerships across three key areas; to increase direct sales to businesses over the race weekend, to demonstrate their capabilities and expertise and to provide engagement through client hospitality.
“Haas and Hilton offer perfect examples of how they are using their different partnerships to directly increase sales around the race weekend. Haas F1, the new US based team owner will be able to translate their successes in the US in providing precision tools in engineering by creating a showcase each race for small to medium size companies who are interested in buying their products, a model which has served a company like Hilton very well. Hilton has sold many times the value of their initial investment with partners, McLaren, each season in the hotel rooms to executives and race goers throughout the paddock.
“KPMG’s new ten-year strategic partnership with McLaren however is much more focussed on demonstrating their expertise. The partnership allows KMPG to utilise the data and analytics of the team to develop digitalised interactive audits and predictive analysis to anticipate future developments of the business health of clients.
“Whilst BT’s partnership with Williams Martini Racing offers another example. The relationship allows BT to go beyond a simple branding exercise and to demonstrate their high performance and high speed communication capabilities effectively as well as showcasing collaboration within the structure of a complex and dynamic business such as Williams.” The insights are all part of a new F1 report released by Repucom on today, ahead of the opening race weekend in Melbourne, Australia. The report which is now free to download by clicking here, will cover topics such as team profiles, in-depth case studies, the media and digital landscape and the forthcoming season’s venues.