P1racenews AI automatic summary:
Interview: How F1 sponsorship reflects the changing face of the audience
sponsorship opportunities, and they pick and choose without any real thought. We see brands that are narrowly focused on what they can get out of it, rather than what they can give to the sport and its fans.â€He cites Ferrari as a good example of a team that understands the value of a long-term, strategic partnership. “Ferrari doesn’t need another car manufacturer sponsoring them, but they carefully select partners that can help them achieve their goals. For example, UPS is a great fit because they can help with logistics. It’s about finding those synergies and adding value beyond just a financial transaction.â€Looking ahead, Fenwick believes there is still a lot of untapped potential for F1 sponsorship, particularly in the digital realm. “We’re only scratching the surface of what we can do with digital activations and engagement. There’s so much innovation happening with fan experiences, virtual reality, and gaming. There’s a whole new generation of fans that are engaging with the sport in a different way, and sponsors need to adapt to that.â€Overall, the increasing number of corporate sponsors in F1 is a testament to the sport’s global appeal and growing popularity, especially in the American market. It also underscores the value of strategic partnerships and the need for sponsors to align their objectives with the sport, its teams, and its fans. As F1 continues to evolve and embrace new technologies, there will be even more opportunities for innovative and impactful sponsor activations.
