Formula 1 expands global sponsorship strategy as Liberty Media attracts PepsiCo, Gatorade and McDonald’s to reach new audiences worldwide.
Under the leadership of American media company Liberty Media, now in its eighth year, Formula 1’s sponsorship strategy continues to intensify.
At the end of the Bernie Ecclestone era in 2017, the former F1 boss had neglected partnerships related to consumer technology and entertainment, instead focusing on traditional sectors such as banking, oil, and logistics.
In the Liberty era, marked by a Netflix series and now an official film featuring Brad Pitt, the focus has shifted to winning over a younger and more female audience.
As a result, mainstream brands have poured in, the latest being Pepsi and its brands Gatorade and Doritos. Red Bull now faces competition from some major brands in Formula 1.
Mainstream Brands Fuel F1
The premier category of motorsport has signed a long-term agreement with PepsiCo and will now have an official energy drink, named Sting. The video announcing the deal with Pepsi ended with the familiar eyes and nose of Daniel Ricciardo behind a helmet visor.
Gatorade will be the official sponsor of F1 sprint races, while other major brands such as Disney, Lego, Hot Wheels, Kit Kat, and even McDonald’s are now part of the sport.
Thomas Josnik, director of motorsport at Puma, told the Financial Times that “Formula 1’s much broader and much younger audience has made the sport far more attractive.”
“It is no longer just about pure sport. It is more about the entire culture surrounding it, including fashion, celebrities, and music.”
Jonathan Jensen, a consultant and academic with a major focus on F1 in his research, explained that “with now five events in North America, it is much easier for Western marketers to justify their investments.”
“F1 drivers and teams have become much more recognizable in the United States, which has allowed mainstream brands to activate their F1 partnerships more easily and effectively in the American market.”
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