Formula 1® partners with Lagardère Sports in strategic focus on China
Archives Lagardère Sports and Entertainment
London, 5 July 2017
Formula 1®, the pinnacle of motorsport, today announced its ambitions to raise the profile of the motor racing series in China, using its global popularity as a premium entertainment property to open up further growth opportunities in the country.
With a new management team in the driving seat, Formula 1 is revolutionising the way the sport is marketed and experienced globally, and as part of its wider strategy to broaden the appeal of the championship in key growth markets, Formula 1 has appointed sports marketing agency Lagardère Sports to help secure strategic partnerships in China from 2018 onwards.
Lagardère Sports will use its vast network, expertise and market knowledge in the country to identify and secure strategic partners for Formula 1 in areas including event promotion, media rights, digital and brand partnerships, merchandising, talent development and racing team development.
Sean Bratches, Managing Director, Commercial Operations at Formula 1 said:
“We have a proud and longstanding relationship with motorsport in Asia, working with some great motor race circuit owners and successful race promoters from Singapore to Suzuka in Japan through to Shanghai in China.
“Across the region, Formula 1 fans have proven themselves to be some of the sport’s most passionate supporters with over 8.8 million* people attending race weekends since 2004.
“We are keen to build on this, developing our brand through unique live entertainment experiences designed to get fans closer to the action.
We’re delighted to be working with Lagardère Sports, whose knowledge of the market in China will help establish long-term benefits for all our partners and brands that we work with.”
Andrew Georgiou, Chief Executive Officer, Lagardère Sports and Entertainment said:
“Having advised clients in the region for over 20 years, we’ve seen first-hand the enormous growth to date in the live sports and entertainment market in China; and also the new opportunities presented by the emerging middle and upper classes.
“Sports fans in the country, as well as media platforms and sponsors alike, are craving premium, local and live sports and entertainment, supported by quality digital content and meaningful fan engagement. Through this new partnership together we will work with Formula 1 to develop premium local content for the Chinese market, in a way that the sport deeply engages with local fans and becomes part of the Chinese sporting culture and fabric.
“We’re delighted the Formula 1 management team has trusted us to use our global insights and network, combined with our local expertise and knowledge within China, to help develop their brand, fan base and appeal to media platforms and sponsors.
“It’s a very exciting time to be supporting Formula 1.”
*Collated race attendance data – publicly reported (includes Malaysia, China, Singapore and Japan)
About Formula 1®
Formula 1® racing began in 1950 and is the world’s most prestigious motor racing competition, as well as the world’s most popular annual sporting series. In 2016 it was watched by 400 million unique television viewers from over 200 territories. The 2017 FIA Formula One World Championship™ runs from March to November and spans 20 races in 20 countries across five continents. Formula One World Championship Limited is part of Formula 1, and holds the exclusive commercial rights to the FIA Formula One World Championship™.
Formula 1 is a subsidiary of Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) attributed to the Formula One Group tracking stock.
About Lagardère Sports
Lagardère Sports is a leading sport marketing agency, with a global network of local experts dedicated to delivering innovative solutions that meet our clients’ needs. We believe sport inspires emotions and passion that are essential to enrich people’s lives and generate powerful collective experiences. At Lagardère Sports, we dedicate our expertise and passion to provide our clients with privileged access to the infinite opportunities of sports. Lagardère Sports is part of Lagardère Sports and Entertainment, a company with more than 1,600 employees worldwide and 50 years of experience.
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