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Partnership Reports

Motorsports Marketing Partnerships Report 2022–23

May 4, 2023

Without a doubt, the hotly anticipated Formula 1 Miami Grand Prix 2023 on May 5-7 will fuel the flames of F1 fever spreading worldwide, and spotlight the dynamism of the entire motorsports industry. As millions of F1 fans gear up for the big event, the sport’s breathtaking momentum seems virtually unstoppable, especially stateside. Last year’s season became the first in U.S. television history to average 1 million or more viewers per race, while the inaugural Miami Grand Prix 2022 was the most-viewed live F1 telecast ever in America, attracting a record 2.6 million average viewers.

F1 isn’t alone in its dazzling ascent: demand for motorsports is growing globally, thanks to the burgeoning appeal of racing events everywhere–led by F1, NASCAR, IndyCar, and MotoGP–as well as expanding viewership and rising popularity among younger audiences. These factors are fueling investment, as motorsports innovate and adapt to the evolving preferences of fans and sponsors alike.

Sponsors are racing to grab a piece of the action. Motorsport athletes inked deals with 84% more brands last year than in 2021–a sure sign that their marketability as top-tier pro athletes is soaring with their global profiles. Sponsorship deals in F1, IndyCar, and NASCAR rose 26%, 13%, and 8% last year, respectively, while MotoGP partnerships grew a whopping 32%.

Against this thriving backdrop, emerging opportunities abound for brands keen to stake a claim in this high-octane industry. F1’s and NASCAR’s commitments to net-zero operating emissions by 2030 and 2035, respectively–along with growth of all-electric racing series, Formula E–are paving the way for green-minded brands across industries to forge high-impact, eco-driven sponsorships. Meanwhile, the 55% rise in sponsorships of emerging North American motorsports (dirt bike and sports car racing among them) underscores fans’ appetite for new circuits, and opens the door for enterprising brands to partner with alternative properties on the ground floor.

As motorsports around the globe shift into overdrive, we’re excited to unveil our 2022-2023 Motorsports Marketing Report. Authored jointly by SponsorUnited’s Marketing Research & Insights, Analytics and Marketing teams, it delivers an in-depth analysis of more than 4,200 brands, 200 athletes, and 2,900 social posts between teams and drivers, from November, 2021, through April, 2023.

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