In the world of global sport, the competition is between the individuals and teams involved, but it is also about the business that occurs outside the sporting arena. From Premier League football to the NFL, motorsport to franchise cricket and beyond, sport is now big business, and the marketplace is often global. When it comes to the world of motorsport, it is hard to dispute that the most commercially prosperous and globally recognised racing is Formula One. Loved by millions who attend the worldwide races, worshipped by global audiences that also run into many millions, and seen by many as the pinnacle of all racing.

As well as the obvious sources of financing such as tickets and merchandise sales, F1 has such a reach that advertising, and sponsorship are now a pivotal part of how this sport has become a globally financial behemoth. Each team and every engine maker are, of course, an advert for their brand. Whether it is Honda, Mercedes, Ferrari, Aston Martin or Red Bull, the constructor’s championship is a fiercely contested as the drivers’ races. This is a testament to how F1 is driving the business side of global motorsports.

Beyond the track, however, this sport is more than a sport, it is a business that is booming. From Australia to the UK and all points in-between, the appetite for this has not gone unnoticed by F1 bosses, teams, and marketing departments. The television rights alone are worth hundreds of millions, and with this level of global exposure guaranteed race to race, year to year, the seemingly exponential rise of money to be made by F1 shows no sign of slowing.

Advertising And Marketing Making Accelerating Racing Landscape

Whether it’s the enticing people to try a new deodorant, or attempting to convince them that they need the next new product from the supermarket  or to try online pokies at Joe Fortune, advertising and marketing drives are both incessant and powerful. From television to social media, billboards to tablet ads, we are bombarded with commercials, and sport is no exception when it comes to harnessing the power of these mediums and methods. In the world of motorsport, as popular and successful as the MotoGP and other race formats may be, Formula One exemplifies the fine art of marketing and advertising.

As with brands that are already globally popular, be it Apple or Coca Cola to name but two examples, Formula One continues to drive itself and the wider world of motorsport success not just through the product, but via the advertising that marketing that continues to accelerate its popularity. Sometimes it is the social media posts of riders or drivers, other times it is what is said at press conferences after a race, but whichever way you turn, F1 and motorsports in general are rarely far from the sports page headlines.

Each of the races throughout the season has not just individual marketing drives, they are also marketed to both local and global audiences simultaneously. This is reflected in not just the numbers that attend the races, but in the knock-on effect of how motorsport in general has gained more attention and fans. One look at the crowds at F1 races show that marketing works. Team colours, memorabilia, flags, and other signs of mass merchandising success are to be seen at every turn, in every grandstand, without exception, and this is just the tip of the iceberg for F1 marketing and advertising.

From Lights Out to The Chequered Flag, Formula One Economics Is Winning

Even for people who do not love F1 or watch any motorsport, it is hard to deny that this sport has gone way beyond what happens on the tracks in terms of its global impact. One of the biggest end to end financial input for the on track and off track business comes through F1 sponsorship deals. Worth billions each year, this alone is driving both F1 financial dominance and popularity as well as underpinning motorsport around the world. Much as the product on the track is the ultimate success story, it simply could not be sustained or grown without the backing of partners, sponsors, and advertisers.

A brief trawl through the official Formula One sponsors and partners highlights just how drawn to this worldwide business big companies are. From Amazon to DHL, Pirelli to Rolex, Paramount Studios to Puma and more, global brand, most of which already have some dominance or strength in their sector, see the power of the F1 brand when it comes to the economics of advertising and commercial success. Success is not always linked to advertising and marketing, but when it comes to Formula 1, it would be difficult to deny that the engines, the drivers, the teams, the circuits, and indeed the entire global business that is F1 is a blueprint for motorsport success.