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Our friend Christian Sylt of Formulamoney.com sent us his latest article that centers on the success, from a brand exposure perspective, on why the Circuit of the Americas was the most successful race on the 2012 Formula One calendar. Let us know your thoughts on the media coverage and what you noticed on TV or at the track. Here is Christian’s article:

 

F1 generates nearly $200m of media coverage for Austin

The city of Austin gained global media coverage worth $191.2m from hosting the 2012 United States Grand Prix, according to new research by Formula One industry monitor Formula Money.

This comprised $166.7m in exposure generated verbally and visually through television broadcasts and a further $24.4m through mentions of Austin and F1 in print and major online media.

The event also generated a high level of exposure for the other brands involved in F1. The 162 brands displayed on cars and trackside hoardings during the race gained exposure with an advertising value equivalent of $150.9m. This total ranks the United States GP as the best race of 2012 in terms of brand exposure, giving F1’s sponsors bigger benefits than famous events such as the Monaco, British and Italian Grands Prix.

Two thirds of this exposure, $100.2m, was experienced by the sponsors of F1’s teams, meaning that the race was a big benefit to the sport’s competitors. Trackside advertisers benefited from exposure worth $49.8m, despite the Grand Prix having no race title sponsor to share in this coverage.

The best-exposed sponsor of the race was series tyre supplier, Pirelli, which in the absence of a race title sponsor took several prime trackside advertising slots for the event. This resulted in total exposure worth $24.5m, or 16.2% of the overall exposure value.

The top five brands in terms of exposure during the race were rounded out by Red Bull ($19.3m), LG ($14.1m), Verizon ($14.0m) and Lotus ($9.5m). Together they drew more than half of the total exposure value. Red Bull Racing was the team which brought the best exposure for its partners, with total coverage worth $16.6m.

The United States Grand Prix also performed well in terms of spectator attendance. The race drew the second-highest race day attendance of the season, with 117,429 fans placing it second to only to the British Grand Prix at Silverstone where 127,000 people visited. In comparison, the last United States GP held at Indianapolis Motor Speedway in 2007 attracted 84,458 spectators, with 20.2% of sales coming from the local area. Austin also scored the third-highest three-day attendance of 2012, with 265,499 fans putting it behind only Britain and Canada.

About Formula Money:

Formula Money is the annual data report on the business of F1 containing 220 A4 pages with more than 300 tables. These uncover every aspect of the sport’s finances from a valuation of each current team sponsorship deal to the typical budget for a Grand Prix. The company also provides consultancy services for numerous parties within the sport such as circuits, sponsors and investors.

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An F1 fan since 1972, NC has spent over 25 years in the technology industry focusing on technology integration, AV systems integration, digital media strategies, technology planning, consulting, speaking, presenting, sales, content strategy, marketing and brand building.
  • cubby74354

    Just saw on twitter tickets go on sale Thursday at noon.

    • Rapierman

      I’m going to snag a ticket as soon as I’m able.

      • cubby74354

        Last year was a blast, formula1blog.com live podcast included, I have a room for 6 nights this year instead of four.

  • SteveH

    I call Bullsh*t. $200 million? Really? So now lots of people can spell Ostin, Texas. I’d sure like to see them cash this ‘$200 million’ in somehow. The reality is having the town of Austin recognized around the world as a place there was an F1 race is worth almost nothing. This is just more FOM fees manipulation. Let’s see, hotel/motel owners jacked prices sky high for the weekend, turning lots of people off from attending in 2013 (including me), and the race this year is the same weekend as a big football game – excellent planning. I guess the media exposure this year will be worth $300 million or so. It was a great race last year and I certainly hope it can be built on, but frankly FOM has NO interest in promoting F1 or generating a fan base. F1 in the US is the invisible series. I’ve attended races in the US and Europe but am about burned out by the costs of attending; I think this year I’ll head out to Tofino on the West coast of Vancouver Island with my wife and spend some quality time at half the cost. Seriously, F1 is getting so pricey to attend and the US TV coverage is so poor if it wasn’t for the BBC and Sky streaming I wouldn’t even watch anymore. I’m an ex Formula car racer and have been an F1 fan for more years than I like to remember (I saw John Watson win in Detroit) but I think FOM is making some very serious decisions re the business. The fans no longer are in the calculation, as Joe Saward (site which see) has so eloquently explained and I’m about done. F1 is not picking up the young fans and although fans don’t matter to FOM at some point the short term profits will be gone and governments will not be willing to pay the extortionate fees demanded by Bernie. Oz is, in my opinion, problematic as the public is wising up to how much it is really costing. At some point the South Koreas, the Aussies, the Germans, etc. will say enough and Bernie’s little scheme will collapse – but not until he has made his billions. Obviously, I feel strongly about this, so sorry for the rant.

  • Adam Vella

    How about you guys go and take a look at the V8Supercars which will be in Austin in mid may as I can say that you will enjoy it.. It’s nothing like NASCAR and it just as techniqual as F1. The manufactures are Holden (chev) Ford, Nissan and Mercedes. It’s a good weekend out and Austin will put a good show on.

    • Rapierman

      If my financial situation will allow it, I’ll see what I can do. No promises, though.

  • charlie w

    Even as a resident and someone who went to the race, I have to question the accuracy of those numbers. Attendance was spectacular for all 3 days and it was great. I would like to see other sources other than FOM.
    And tickets for the 2013 race do go on sale on Thursday, I got the e-mail from COTA yesterday. I’m going to hold out before buying them because I may not be going. As someone said earlier, there is a University of Texas football game(tack on additional 94k people in town that weekend besides the F1 crowd and hotel rooms will be especially scarce). I knew that mid-November date would bite COTA in the ass. MotoGP had a 3 day test at COTA this week and I want to go to the V8 Supercar race in May and the Porsche Supercup will be racing on the same weekend.