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GP Week : Issue 192
F1 >>> BUsInEss With Red Bull Racing racking up victory after victory this season, many fans have become bored by proceedings with some even resorting to booing sebastian Vettel to show their frustration. But for Red Bull itself and the team’s partners a long run of success is good news for more reasons than bringing the championship a step closer. At last year’s Indian Grand Prix, Vettel took his fourth victory in a row, starting from pole position and leading every lap. A great day for Red Bull was capped off by a third place for Mark Webber, giving the team 40 points and a whole lot of TV coverage. Red Bull Racing’s dominance meant that its energy drink brand owner gained exposure from the race which would have been worth $17.2m if it had been purchased as standard television advertising slots around the world. This meant that Red Bull extended its lead as the best exposed brand of the season so far. It had gained coverage so far in 2012 which was worth $280.1m, a significant 14.5% of all the exposure value in the season. This put it well ahead of closest rivals Santander ($230.9m, 12.0%) and Vodafone ($155.2m, 8.0%). However, despite this strong performance, Red Bull was only the second best exposed brand in India. Race title sponsor Airtel dominated coverage of the Indian GP, pulling in exposure worth $26.2m from its race title sponsorship and one-off Mercedes deal. The Indian telecoms brand also headed up strong coverage of local brands connected to F1 in the home print media. Local sponsors gained particular attention in the two weeks surrounding the race. A total of 136 articles mentioned Force India owner Sahara and F1, while a further 78 articles mentioned Airtel and F1. In terms of team performance, it was more good news for Red Bull Racing. Despite having one of the largest budgets on the grid, the team’s double podium made it the best value for money team of the race, spending $392,000 per point it scored, compared to $611,000 per point for nearest rival McLaren. Nico Hülkenberg meanwhile was the best value for money driver of the race for the second Grand Prix in a row. He cost Force India just $3,125 in salary per point he scored. FIVe BesT-eXPOseD BRANDs – INDIAN GP 2012 Brand Team(s) / Race est advertising value equivalent of exposure 1 Airtel Mercedes, Indian GP $26,239,810 2 Red Bull Red Bull Racing, $17,187,868 Toro Rosso 3 Vodafone McLaren $8,170,975 4 Santander Ferrari $7,077,289 5 Pirelli All teams, Indian GP $5,384,801 Best-exposed team Red Bull Racing $19,129,442 TeAM sPeNDING PeR POINT RATIO: 2012 INDIAN GP Team Points estimated spending per point (us$) 1 Red Bull Racing 40 $392,000 2 McLaren 22 $610,909 3 Ferrari 26 $754,615 DRIVeR VALue FOR MONeY: 2012 INDIAN GP Driver Points estimated cost per point (us$) 1 Nico Hülkenberg 4 $3,125 2 Romain Grosjean 2 $6,250 3 Bruno Senna 1 $12,500 As F1 prepares to head to India, Caroline Reid and Christian Sylt analyse how sponsor’s returns were calculated, using last year’s Indian Grand Prix The business of F1 brands MeTHODOLOGY Brand exposure By using the lap-by-lap performance of each team along with the extent of sponsors’ exposure during a given race, Formula Money calculates the advertising value equivalent of team sponsorships factoring in the effects of race performance on brand visibility. The focus of the data is not time on-screen but is instead the global media value of each sponsor’s exposure. The data covers all brands featured on the 2012 F1 cars, including sponsors, team owners and engine manufacturers. The data also includes the exposure achieved by the trackside advertisers at each race. The data is race-performance based so exposure is calculated for the duration of the race only and excludes branding of on-screen graphics. Team spending per point: This data shows the ratio of the number of points scored by each team in the 2012 Belgian Grand Prix to the level of resources that team had available to it for the race. Team resources estimates are based on Formula Money’s estimated 2012 team total resources. Driver value for money: The drivers’ cost per point is calculated by dividing a driver’s average pay for the race by the number of points he scores there. Driver cost estimates are based on Formula Money’s estimated 2012 team driver salaries. Data provided by the Formula Money ROI Review: www.formulamoney.com 12 GPWEEK.com // 12 GPWEEK.com // PARTNERS: