Formula 1 is one of the most popular sports in the world with a global audience of 1.5bn (second only to soccer). In 2023, a total of $1.9bn was spent across Formula 1 central, team and race venue sponsorships. Brands are investing because they like the trajectory, the innovation and the unique marketing platform which provides large global media reach alongside the opportunity to activate locally from the 24 race around the world.
How Formula 1 sponsorship works
Formula 1 offers various sponsorship packages from central partners of the sport, to team sponsorship, to race and venue sponsorship.
The most popular Formula 1 sponsorship strategy is team sponsorship. These partnerships make up 70% of total Formula 1 sponsorship spend and range from team naming rights, to principal partnerships, to smaller global partners and regional packages – each with different levels of marketing support tailored to brand specific business objectives and budgets.
Alternatively, brands can align with Formula 1 through a “central” partnership buy. Central marketing packages are underpinned by Formula 1 IP (not team IP) and branding is delivered through trackside logo placements and race naming rights (rather than team car and uniform).
What brands and industries is Formula 1 sponsorship most effective for?
Formula 1 sponsors span industry leaders and challenger brands. All looking to align with Formula 1 premium global IP synonymous with cutting-edge technology, speed and innovation.
Over the past 36 months Formula 1 sponsorship has witnessed an accelerated influx of IT, Fintech, Crypto, new fashion and Web3 brands due to the sports’ refreshed data and lifestyle focus.
New audiences are skewing younger and attracting more females due to broader, accessible consumption platforms and entertainment-lifestyle content, providing sponsors with even more touch points than ever before.
How SportQuake can help you plan and buy Formula 1 sponsorship better
We work across all global properties, all inventory and have deep understanding around effectiveness and pricing. We help brands of all sizes navigate this complex sponsorship ecosystem to create the ultimate Formula 1 strategy to achieve their goals.
Get in touch to find out more.