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Blogvent Day 2: F1 set to hit 2 billion

Business | Sponsorship | Sport

As part of our work with the now sadly departed Panasonic Toyota Racing team throughout 2009, we produced a series of newsletters called Activate, looking at the business of Formula 1 from the team’s perspective. Our work on Activate unearthed some truly incredible facts and stats about Formula 1, underlining it as the world’s biggest annual sporting event, but none was quite as impressive as the prediction from research authority IFM Sports Marketing Surveys that Formula 1 is set to approach a cumulative audience of 2 billion in 2010.

The expansion of Formula 1 into new territories over the past few seasons with Singapore joining in 2008 and Abu Dhabi in 2009 has already helped F1 draw a cumulative audience of around 1.6 billion in 2009, but the addition of the Korean Grand Prix in 2010 is set to give F1 even greater prowess when it comes to its international penetration.

Four new teams are joining Formula 1 next season with the Virgin Racing team appearing on Monday’s FIA entry list alongside Lotus F1 Racing, Campos Meta 1 and the US F1 Team. Brawn GP, which has recently been taken over by German car manufacturer Mercedes, will be defending their title with reigning world champion Jenson Button joining Lewis Hamilton in a surprise move to McLaren.

The Formula 1 landscape is changing with many observers likening the sport’s natural evolution as a return to its heyday with independent teams, a healthy number of cars and careful governance over the technical regulations.

There is no better time for brands to get involved in Formula 1. More opportunities, greater global audience and the return of Formula 1 as a genuine ‘water cooler’ conversational topic on Monday mornings in the office.

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