Brewing giant Heineken is reportedly close to tying up a five year £100m deal to sponsor F1.
The sport is more globalised than ever, with races now taking place in extremely lucrative markets across the Middle East, America and Eastern Europe.
In the past the sport has proven attractive to major brands. Red Bull currently run two teams in the championship, while Benetton famously sponsored Michael Schumacher’s title winning cars in the 90s.
However, this trend has waned in recent years. Notably, McLaren lost Vodafone as main sponsor in 2014 as the team struggled after years of competitiveness. Declining viewing figures across the globe has dissuaded many companies from investing in the sport.
YouGov Profiles data enables us to assess why this tie-up should work well for both parties.
Compared to a nationally representative sample of all UK adults, those that follow Formula 1 say they are more likely to purchase lager in the pub several times or once a week, indicating the potential for a sales boost that the partnership provides.
They are also slightly more likely to already be Heineken customers, though it is in fact a Cider brand – Strongbow – that is most likely to tickle their taste buds.
Looking specifically at Heineken drinkers, we can see that they are more likely than the average to like motorsports in general, and Formula 1 in particular. Of course, Heineken has several beers under its umbrella, and it will no doubt use this deal to leverage several of those individual drinks.
Of the current crop of drivers, perhaps unsurprisingly it is Jenson Button and Lewis Hamilton that score most highly in the popularity stakes – something to for the brand to consider when marketing activity is conducted.
Heineken already has an impressive array of sports sponsorship partnerships, in particular the Uefa Champions League. However, this foray into the motorsport world should in theory help to gain a foothold in previously untapped areas, as well as building on the solid base it has in its core customer locations.
For the sport itself, it is a much welcomed shot in the arm, and those in charge will delighted to convince a world renowned brand to get involved.