6/9/2023 0 Comments Redbull f1After growing its fanbase by 18% to 92 million fans, he told Campaign that Red Bull Racing has now overtaken Mercedes as the second-largest supported F1 team behind Ferrari. Mills says that Red Bull Racing, in particular, has led the field in growing its off-track popularity. If you are a Heineken or DHL with global appeal, it’s a very attractive proposition.” “From an audience and sponsorship perspective, no other league can deliver that audience across such a broad diversity of countries. There are also new Japanese and Chinese drivers, which provide a lot more relevance on key growth markets,” he says. “They’ve invested heavily in digital and social media, put on more races and revolutionised the way it is packaged. ![]() Rob Mills, chief executive of the sports marketing consultancy Tenka Group, has been monitoring the success and rise of F1 and Red Bull Racing in recent years. The 2020 figures represent healthy growth from 2017 when its revenue was £198m and profit £385,000. Its post-tax profit is about £723,000, according to the latest filing in Companies House. In 2020, the team reported turnover had dropped to £230m from £245m the year before, largely due to the impact of Covid. Such deals will provide a huge boost to Red Bull Racing’s balance sheet. The team also signed a world-record sponsorship deal with cryptocurrency exchange Bybit worth $50m (£38m) per season over three years. Oracle became the title sponsor of Red Bull Racing, reportedly for £74m per season, over five years. In the off season, Red Bull secured what has been described as the most lucrative sponsorship deal in sport. Their growth off it has been just as impressive with a burgeoning commercial programme and fanbase helping the team overtake fierce rivals Mercedes in the fan stakes, according to one observer. It is not just in the paddock that Oracle Red Bull Racing has been turning heads in recent seasons. On the track, few doubt that the team and Verstappen will roar back into contention, once teething problems with the new generation RB18 are resolved. Teammate Sergio Perez has had a more consistent showing and is currently fourth after securing second place in Sunday’s Australian GP. Although defending champion Max Verstappen won in Saudi Arabia, his sole success this season has been bookended by mechanical failures in Bahrain and Australia. Three rounds in, and there are still technical issues. On the back of Max Verstappen’s breakthrough F1 season triumph and only weeks after Red Bull's most successful car launch to date – the new RB18 car didn’t quite live up to its hype at the first time of asking at the season opening Bahrain Grand Prix. ![]() Professional motorsport can be brutal at times, but one maxim usually rings true – success on the pitch (or the race track, for that matter) often leads to success off it.
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