Since
the moment stock cars first raced on the shores of Daytona Beach, sponsorship
has played a role in NASCAR. Today, a new survey of FORTUNE 500
companies reveals that more than one-in-four use NASCAR as part of their
marketing mix.
That
number has increased in each of the last three years.
The
number of FORTUNE 500 companies invested in NASCAR increased 7% over
last year, and nearly half of all FORTUNE 100 companies now invest in
NASCAR; also an increase over 2014. The 130 companies involved in the sport
mark a 20% increase since 2008, when significant changes to the economy severely
impacted the media and marketing landscape.
On
the heels of a recently announced Official Partnership with Microsoft – and
several other technology brands entering the sport this year and last – the
number of FORTUNE 500 tech companies invested in NASCAR has increased by
66 percent since 2013.
“We
are gratified that NASCAR continues to be a place where best-in-class
corporations choose to drive brand awareness, preference and purchase behavior.
Our fans are fiercely loyal to our sport and the FORTUNE 500 brands that
are an integral part of NASCAR,” said Brent Dewar, NASCAR Chief Operating
Officer. “We collaborate with partners across the industry each and every day
to grow the sport and advance sponsors’ objectives.”
Repucom’s
SponsorLink tracker reveals that seven out of 10 NASCAR fans are loyal to a
brand when it sponsors their sport, higher than all other major sports
properties.
To
be eligible for the FORTUNE 500, a company must be based in the U.S. and
be publicly traded. Though many more FORTUNE 500 companies advertise on
NASCAR-related television programming, only those that are partners or
licensees with the sanctioning body, teams and / or tracks were counted in the
analysis.
Although
being a FORTUNE 500 company is the gold standard of success for
publicly-traded companies in the United States, there are several global
corporations currently involved in NASCAR that were not included in the
analysis because they do not meet FORTUNE’s criteria. A number of those
not qualifying, but involved significantly in NASCAR, include Ingersoll Rand,
MillerCoors, Mars, McLaren and Toyota.
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