Does mascara money give female race drivers the data they need in their hunt for sponsorship? That is just one of the items covered in this week’s edition of the Business of Being a Race Driver. I also have advice on how to conduct sponsorship research, details on the 2025 Motorsports Sponsorship Summit and spotting a sponsorship scam.
The Business of Racing
From the Driver’s Point of View
In last week’s Business of Motorsport Roundup, I posted an article from Business of Speed‘s Vincenzo Landino where he described the effect of “mascara money” on brand engagement in Formula 1. From last week’s column:
Formula One is the most popular annual sporting series with over 750 million fans worldwide, according to a new study by Nielsen Sports and a huge part of that fan base are women, a fact that is driving a major trend to cater and advertise to these new female fans with what has been termed “mascara money.” Women constitute 41% of this base, and the fastest-growing segment are women aged 16 to 24.
According to Business of Speed‘s Vincenzo Landino, this “mascara money” is driving F1’s growth. “The beauty sector leads F1’s commercial metamorphosis, transforming sponsorship models through what I’m calling “mascara money” – the intersection of cosmetics capital and motorsport marketing. This evolution mirrors F1’s dramatic demographic shift, with Nielsen Sports data confirming over 300 million female fans worldwide and women comprising 41% of the global fan base. Most notably, the fastest-growing segment comprises women aged 16-24, representing a seismic shift in the sport’s cultural positioning.”
Read more about the effect of “mascara money” here.
One of the major issues facing female racers is their access to sponsorship where often equal skill does not equate to equal opportunity. The news that female-oriented brands are increasingly engaging in sponsorship of F1 and F1 Academy signifies a major shift. I think it is important for race drivers to start thinking about how you can harness the growing popularity of F1 with a female fan base in your sponsorship acquisition efforts. Dive into the numbers and incorporate these in your sponsorship decks and presentations. Leverage this change to emphasize the opportunities available for potential sponsors to get involved.
In the video above, Nate Hunt, representative for BFGoodrich Tires, explains how to do research to understand what BFG needs and what the brands’ marketing objectives are and how to approach the company. Hunt was interviewed by Alex Striler at the 2024 Motorsports Sponsorship Summit on January 13, 2024.
If you are impressed with the video above (and you should be), then don;t forget to sign up for the 2025 edition of the Motorsports Sponsorship Summit. The 4th Annual Motorsports Sponsorship Summit will be on January 11 & 12, 2025. Host Alex Striler has invited several more panelists to share their insights on motorsports marketing and sponsorship, these are who have confirmed so far.
You can get more details on the event and sign up here.
Racer on Demand brings you 4 tips on how you can revive your merchandise sales. “Struggling with off-season merch sales? You’re not alone. As you start planning for next year’s racing expenses, a boost in merch revenue could make all the difference. But how can you turn things around? You have two key strategies: attract new buyers or encourage repeat purchases from your existing fans. In this post, we’ll share four powerful tips to help you do both, ensuring your merch sales thrive even in the off-season.”
Read what the 4 tips are here.
Neil Braun, President at Road To Racing explains why you should be aware of sponsorship scams. “To all parents, athletes, and teams: be cautious, ask questions, and make sure you are entering into relationships with legitimate sponsors who have a vested interest in your success. Don’t let scammers exploit your dreams.”
Read what to look for in spotting a scam here.
Ken Ungar of Charge Sponsorship provides a “quick and dirty” guide to sponsorship pricing. “Sponsorship valuation—determining the right price for sponsorship—is crucial for both buyers and sellers. We recently wrote a long-form article on this topic on chargesponsorship.com. However, for our LinkedIn newsletter and its busy subscribers, here’s the quick and dirty guide to help you confidently price sponsorships.”
You can read it on Linkedin here.
From the Sponsor’s Point of View
Sports marketing agency Sport Dimensions explains the difference between sponsorship rights and sponsorship activation. “What sounds like a simple difference in wording turns out to be a critical distinction in sports business. As digital media continues to command more attention and marketing dollars, there have been some important changes to traditional approaches to sports and entertainment. To maximize value for your brand, the key is finding the balance of investment between sponsorship rights and activation programs.”
You can read the article here.
Author: Mark Boudreau
Mark is the publisher of Motorsport Prospects. As a lawyer, he applies his legal background and research skills to assist race drivers by showcasing the resources they need to make their motorsport careers happen.
