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Home arrow Market Research Findings arrow Automotive arrow Petronas Sees Big Gains From F1 Sponsorship
Petronas Sees Big Gains From F1 Sponsorship PDF Print E-mail
Written by Advertising & Marketing   
24 Dec 2010
Petronas is reaping big rewards from its involvement in the Formula One racing, pulling in US$35.2 million in advertising value from the first seven races in 2010.

A new report from Formula Money shows Petronas' involvement in the F1 is paying big dividends, raking in more than RM1.94 billion in advertising value from 2006 to 2009.

The report also shows that in 2009, F1 boasted a global viewership of 520 million and more than 164 hours of programming.

News broadcasts of F1 totalled 268 hours with Asia taking a 35% share of that coverage.

Petronas has had an affiliation with F1 for the past 15 years and Petronas senior GM of corporate services Mohammad Medan Abdullah said its affiliation is only getting stronger.

Medan told The Edge Financial Daily its sponsorship had also helped to introduce Petronas' products into new markets.

"As Petronas began globalising its business, it became necessary to secure a good branding position," he told the newspaper.

"The sport has proven to be an effective platform for us to first introduce the brand globally, and later to grow our business internationally."

Formula Money reported Red Bull was the most effective brand in the F1, taking US$152 million in advertising value.

By: Matt Eaton, Malaysia

Malaysia - 14 December 2010

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