NASCAR sees growth in investment from FORTUNE 100 companies
July 21, 2016
Staff Report
NASCAR Wire Service
The list of blue-chip brands involved in NASCAR continues to grow.
According
to a recent internal analysis, the number of FORTUNE 100 companies
investing in NASCAR has increased five percent year-over-year. Also, the
number of FORTUNE 500 companies
investing in the sport has either grown or sustained year-over-year
since 2012. Overall, more than one-in-four FORTUNE 500 companies
integrate NASCAR into their marketing strategies.
A
charter agreement with race teams, five-year track sanctioning deals,
and a bevy of new or renewed long-term partnerships have contributed to
NASCAR’s business growth over
the last several years. FORTUNE 500 companies Auto-Owners Insurance,
Stanley DeWalt, Fastenal, O’Reilly Auto Parts and Axalta have all
renewed with or entered the sport this season, highlighting the momentum
across the industry.
Repucom’s
SponsorLink survey shows NASCAR surpasses all other sports properties
in fan sponsor consideration. Seven out of 10 NASCAR fans are loyal to a
sponsor’s brand when
it supports the sport, and three out of four NASCAR fans would consider
a sponsor’s brand.
While
being a FORTUNE 500 company is the gold standard of success for
publicly-traded companies in the United States, there are several global
corporations involved in NASCAR
that weren’t included in the analysis because they do not meet
FORTUNE’s criteria. A number of blue-chip brands significantly involved
in the sport did not qualify, including: Mars, MillerCoors, Shell and
Toyota.
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