The Rise of Formula E
Formula E are now entering their third season. When the series began the traditional motorsport fan was not impressed and was quick to compare it to other series. That was probably a mistake as they were never the target audience that Formula E set out to engage with. There is, of course, cross over with drivers and engineers from other series giving race fans a degree of familiarity. However Formula E are keen to seek out a new audience, a younger demographic and take races to the people in city centres. The first race of season three was in Hong Kong and the second in Marrakech.
Manufacturers were interested but cautious in the first season, there was only two works supported efforts, the Renault E Dams Team and Audi Sport Abt. Now in season three there are nine manufacturers involved directly. Jaguar joined this season and Mercedes has just reserved an entry for 2018. This goes to show that the series is capturing the imagination and everyone wants a piece of the action. Audi have even cancelled their Lemans 24hr Sportscar programme to focus on Formula E moving forward.
I would describe opportunities with the Team’s involved as global sports sponsorship opportunities and not motorsport opportunities. As previously mentioned they resonate with a younger demographic and the showcasing of electric vehicle technology is certainly an area all the motor manufacturers feel strongly about. In terms of advising clients now is the time to get involved with Teams on a long-term basis. As the profile continues to rise over the coming years the rights fees will also escalate. Lock in your option for a multi-year deal now and benefit from increasing exposure and reach plus an association with future technologies.
For more information on partnering with a Team in Formula E please contact me direct firstname.lastname@example.org or why not give me a call to understand the options +44(0)7787 546 095.