Motorsport Athlete Endorsement Deals Increase 40% Year-Over-Year

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May 04, 2023, 09:30 ET

SponsorUnited's motorsports analysis reveals 18% growth in brands buying sponsorships in North America

STAMFORD, Conn., May 4, 2023 /PRNewswire/ -- SponsorUnited, the leading global sports and entertainment intelligence platform tracking 1.1 million sponsorships and endorsements for 250,000 brands and properties across sports, media, music and entertainment, today released its 2022-23 Motorsports Marketing Partnerships Report, analyzing over 4,200 brands, 200 athletes and 3,000 social posts in Motorsports, which consists of NASCAR Teams, NASCAR Tracks, Indycar, Formula 1 (F1), Formula E, and MotoGP.

Key findings from the report include:

Motorsports outpace major pro sports in sponsorship growth: Motorsports have emerged as an increasingly attractive platform for brands seeking to engage fans, witnessing a 18% growth in active brands buying sponsorships or media in the last year, which is 3.5 times the sponsorship growth in North American major pro sports (NFL, NBA, NHL, MLB, and MLS). Racing series, track and athlete sponsorships are continuing to rise, with over 4,000 brands sponsoring motorsports.

Endorsement deals increase 40% for motorsports athletes: The motorsports athlete sponsorships grew 40% while deals per brand increased 25% between 2021 and 2022. Motorsport athletes average twice as many endorsement deals as their major pro sports counterparts, with 5 and 2.5 each, respectively. Anthony Alfredo, a NASCAR driver, is the most-endorsed athlete with 31 deals.

"Coupled with the growing popularity of motorsports, we're also witnessing a surge in endorsement deals for the athletes that make this sport so captivating. As top drivers in F1, Grand Prix, and NASCAR race towards the finish line, they're also securing deals with some of the world's most recognizable brands," said Bob Lynch, founder and CEO of SponsorUnited. "The globalization of motorsports has opened up new markets and created new opportunities for businesses to expand their reach and connect with broader audiences. Brands are recognizing the value of aligning themselves with this dynamic and fast-growing industry."

Strategic expansion and innovative events fuel F1's meteoric rise: New, high profile races like the Miami and Las Vegas Grand Prix are generating worldwide buzz for F1, attracting new partners and driving fan engagement. The sport's growth has seen the US viewership up 28% on ESPN, the social media engagement increase 80%, and partnerships with major brands increase by 24%.

F1's sponsorship diversity dazzles: The remarkable diversity of F1's sponsorship portfolio, 87% of which is comprised of non-endemic brands, demonstrates the sport's capacity to attract sponsors who are looking to connect with F1's fan base. Meanwhile, IndyCar leads F1 by 25% in endemic sponsorships, underscoring racing-focused brands' loyalty to the North American racing series.

View the full report here.

About SponsorUnited
Launched in 2018, SponsorUnited is the leading global sports and entertainment intelligence platform, delivering real-time trends and on-demand research that provide invaluable insights. With over 10M data points, 1.1M deals, 250K brands and properties across sports, media, music, and events in one SaaS database, SponsorUnited enables brands, rights holders and agencies to partner more effectively. By connecting the entire sponsorship ecosystem through the most comprehensive data available anywhere, SponsorUnited is fueling smarter partnerships.

To learn more about SponsorUnited and how the platform is powering stronger partnerships for brands, rights holders, agencies, and talent, visit: https://sponsorunited.com/.

Media Contact
Lisa Brown: [email protected]

SOURCE SponsorUnited