NASCAR sees growth in investment from FORTUNE 100 companies
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 yearover-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.