Are you willing to sponsor?
Are you ready to explore the transformative power of athlete sponsorship for your brand? Click here to learn more about how sponsorship can help brands grow and thrive in the exciting world of motorsports.
By Emanuele Venturoli| Posted September 13, 2024 | In Formula E, Formula E
Formula E is becoming more and more popular and has reported a significant increase in its global television audience, which rose by 35% year-over-year to reach 491 million viewers during the 2023/24 season. This growth positions Formula E as the fastest-growing motorsport worldwide. It is a great result for the all-electric single seater racing series.
The Monaco E-Prix, held last season, achieved a record audience of 40 million, marking the highest viewership for any Formula E race to date. Additionally, races in the United States, Japan, Mexico, and Spain also recorded their highest single-programme audiences in the series’ history.
Overall, the fanbase for Formula E expanded by 23%, reaching an average of 374 million fans globally, up from 304 million in the previous season. This growth narrows the gap with established series like Formula One and MotoGP. Notably, Formula E has 118 million fans in China, 27 million in Indonesia, and 11 million in Brazil.
The series has also focused on enhancing its social media presence, resulting in a 20% increase in followers and generating over one billion impressions across various platforms. Fans perceive Formula E as nearly twice as innovative as Formula One, with 39% favoring Formula E compared to 21% for Formula One regarding innovation.
Jeff Dodds, the CEO of Formula E, expressed enthusiasm about the results, highlighting the commitment to thrilling racing and innovation. He emphasized the ambition for the upcoming season, which will introduce the new generation car, capable of accelerating from 0 to 100 km/h in just 1.82 seconds, promising even more exciting races in the forthcoming season.
The data was gathered from a survey conducted by Potentia Insight, which involved 33,000 adults across 16 markets, and the viewership metrics were sourced from Kantar Sport, with social media analytics provided by Conviva/Hookit
Are you ready to explore the transformative power of athlete sponsorship for your brand? Click here to learn more about how sponsorship can help brands grow and thrive in the exciting world of motorsports.
A graduate in Public, Social and Political Communication from the University of Bologna, he has always been passionate about marketing, design and sport.
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By doing so, we are convinced that we are shortening the value chain, saving time and money. However, these DYI methods are anything but risk-free and what initially appears to be a competitive advantage soon turns into a problem that is difficult to resolve. That’s why there are agencies. And this is why you should rely on us for your sponsorships.
When first approaching a motorsport sponsorship project, it is difficult to know immediately which stakeholders are correct, what the decision flow is, and what the right timelines are for each process. Motorsport is a very specialized field of action, and fitting effectively into its paths can take a lot of time and therefore money. We, on the other hand, know referents and spheres of action and know who to talk to, when and how. So you are also more effective.
Motorsport is an immense passion, and for our heart colors we would be willing to do anything. But business is a different business, and it is important to make the best possible strategic decisions based on independent research, statistics and reliable data. A motorsport sponsorship agency like RTR has an objective, 360-degree picture of the scenario and can tell you what is really best for you: which racing series, which athlete, which team. This is because we possess a great deal of data and information on ratings, segmentation and attitudes. Because the numbers don’t lie. Never.
Activations are the real heart of motorsport sponsorship. Without them, there remains only a blank sticker on a motorcycle, car or uniform and no contact with the public, no emotional connection, no impact on the bottom line. Then how do you do it? It certainly won’t be the teams or the athletes who will help you leverage sponsorship and enjoy the many marketing rights you have paid for. To bring out the best in a motorsport marketing project, you need an agency that knows how to use sponsorship to engage the fanbase online, to reach out to Shopping Centers, to organize hospitality, to develop B2B and B2C opportunities, and to get “your” athletes in front of millions of potential consumers.
Would you ever go to the dealer who sold you the car and ask if the competitor’s car is better? No, of course. So, how do you expect to get firm measurements of the effectiveness of your sponsorship if you do not rely on someone super partes? At RTR, we have always worked with independent third-party agencies that allow us to know the return on any exposure of your brand on TV and in the media. In addition, we believe in calculating ROI as the ultimate measure of your success-so we can tell you for every penny you spend how much you are making.
We have been involved in motorsport sponsorship and sports marketing for more than 15 years. We are consultants in the sense that our goal is to maximize your investment, but we are also an agency that manages the project from start to finish. We have been doing this since 1995 with passion and professionalism, following three principles that have become cornerstones of our business: independence, verticality and transparency.
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