Formula One owner Liberty Media has appointed Wavemaker and Brainlabs to run its respective traditional and digital media accounts following a competitive review.
Former Formula One chief executive Bernie Ecclestone had previously handled media-buying himself.
However, the $40m account went up for review last year in a process run by marketing performance analyst Oystercatchers, following Liberty Media’s £6bn acquisition of the brand from CVC Capital Partners.
The Liberty Media Transformation of Formula One
As the sun sets on Formula One's first season under new ownership, Fifty Digital co-founders Nick Jackman and James Campbell discuss the big changes, as well as what’s next for the sport under the Liberty Media transformation…
You might think this season was much like recent years. Lewis Hamilton won his fourth Drivers’ Championship and Mercedes-AMG Petronas Motorsport retained their Constructors’ title by a comfortable margin.
Formula One has unveiled a new logo for the first time in 23-years, which was launched at the season-ending Abu Dhabi Grand Prix on Sunday 26th November and is reportedly the first step in the rebranding of the sport.
Spearheaded by its first director of marketing, Ellie Norman, and agency Wieden+Kennedy London, Formula One is adjusting its marketing and business strategies, according to media reports.
Formula One has appointed David Hill to advise on an overhaul of its on-screen package, with the former Fox Sports president tasked with revamping the sport’s sound, graphics and performance.
The Australian will also assist with introducing virtual adverts of local brands in the countries and regions where the races are held.
From 2018, ESPN will broadcast all races live in the United States after signing a new multi-year partnership, replacing NBC.
The cable and satellite sports channel will broadcast all practice and qualifying sessions in the US, with for over 125 hours of F1 programming during the year.
"ESPN has had a long commitment to motorsports, and Formula 1 is a crown jewel in the sport," Burke Magnus, ESPN executive vice-president of programming and scheduling said.
Formula One driver, Lewis Hamilton, has continued his partnership with MV Agusta, marking the announcement with the launch of a new bike, the F4 LH44.
Hamilton extended his deal with the motorcycle manufacturer in September, with the original deal signed in 2016.
The bike is based on the F4 RC which is the street variant of the F4 RR race bike used in the FIA World Superbike Championship.
44 of the bikes will be produced and newspaper reports suggest the bike will be worth £60,000.
Red Bull will race as Aston Martin Red Bull Racing from the 2018 season after agreeing a new title and innovation partnership with the car manufacturer.
The technical partnership will also see a new Advanced Performance Centre being established at Red Bull Racing’s campus later this year, enabling a closer working relationship between the two parties on both Formula One and road car technology. The centre is expected to create 110 new jobs, as well as housing Aston Martin’s design and engineering personnel responsible for future sports cars from the two companies.
Mongoose, the integrated sports and entertainment marketing agency, has been appointed to commercialise the new visitor attraction at Silverstone.
Scheduled to open in Spring 2019, the Silverstone Experience will be an interactive, technology driven visitor attraction at the home of British motorsport.
The new visitor attraction, supported by the Heritage Lottery Fund, will celebrate the past, present and future of Silverstone and British motorsport, which aims to bring over 500,000 people per year closer to the circuit’s history.
Malaysian state oil and gas firm Petronas has signed a multi-year extension to its title sponsorship of Formula One champions Mercedes.
"There is a renewed vitality and a new level of energy in the sport this year," Petronas president Datuk Wan Zulkiflee Wan Ariffin said. "With new rules and regulations for this year, and many new things for the fans, the sport is increasing in terms of audience and that's great. And for all of us at Petronas, we know that the technical contribution will be even more important this year because of the stiff competition from our rivals."
Formula 1 and Snap Inc have announced a new global partnership to cover its upcoming Grand Prix races on Snapchat’s curated editorial platform, Discover.
The deal marks Formula 1’s first commercial collaboration with a major digital and mobile-first platform, and will officially kick-off this weekend, with coverage of the 2017 Formula 1 Rolex British Grand Prix on Sunday through Snapchat’s Our Stories.
This partnership with Snap is part of the ongoing Formula 1 strategy to develop the sport on several digital platforms, and of course the Official F1 App and Formula1.com.
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