Formula One is seeing a surge in sponsorships from consumer brands as it attracts a new generation of fans. The sport's popularity has soared thanks to Netflix's 'Drive to Survive' and Hollywood films, leading to record attendance figures. Major brands like Kit Kat, LVMH, McDonald's, Lego, and Hot Wheels are now on board, drawn to F1's evolving culture that encompasses fashion, celebrities, and music.
Formula One is attracting a new wave of sponsorships from consumer brands , as the global racing series and its teams win over a new generation of fans. The sport has attracted record attendances of 6.5 million for events in 2024, thanks to the Netflix Drive to Survive effect and a rising profile in Hollywood on the back of F1 themed films.
Nestlé’s Kit Kat, which will become F1’s “official chocolate bar” next season, and luxury group LVMH, including the Moët & Chandon, Tag Heuer and Louis Vuitton brands, are among the recent additions to the competition’s growing list of blue-chip sponsors. McDonald’s, Toymakers Lego Group and Mattel’s Hot Wheels have also signed deals with F1 this year. Thomas Josnik, head of motorsport at Puma, which has sponsorship deals with F1 and teams including Ferrari and Aston Martin F1, said the rise of a “much wider and much younger audience” had “made F1 much more attractive”. “It’s not about the pure sport any more,” he added. “It’s more about the entire culture and the entire culture around the sport, including fashion, celebrities, and music,” he added. Under the ownership of US group Liberty Media, F1 has positioned itself as a premium sports and lifestyle brand, with a young and diverse fan base. The company generated $632 million of sponsorship revenue in the 12 months to the end of the third quarter of this year, more than double the amount it made in the entirety of 2019, according to an investor presentation. The races in Melbourne, Silverstone, Texas and Mexico City, each attracted more than 400,000 attendees. On top of Texas, Mexico City and Montreal, F1 has also added US races in Miami and Las Vegas, boosting attendance figures in North America. “With five events in North America now, it’s much easier for brand marketers in the west to justify the spend,” said Jonathan Jensen, an academic and consultant who follows F
Formula One Sponsorships Consumer Brands Fan Base Netflix Drive To Survive Hollywood
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