Experts estimated that the 2024 season of Formula One will earn more than $500 million from sponsors. Sports betting reports show F1 has 22 active sponsorship deals for the current season. Also, F1 sponsorship values increased due to the popularity of the Netflix Documentary Drive to Survive.
Season 6 of the immensely successful documentary series has contributed to Formula One’s meteoric rise in popularity. In addition, fanbases for both teams and drivers continue to increase thanks to the show’s unique access all-areas policy.
Furthermore, the series’ success has driven its commercial appeal in recent seasons. According to 9 Dollar Per Head sources, new global brands are keen to associate themselves with the show.
Formula One has 22 ongoing sponsorship deals, with a significant majority (81.82%) signed after the first season of Drive to Survive was released. Only the partnerships with Heineken, DHL, Rolex, and Pirelli predate the announcement of the original series. Since the show started, all the partnerships, including the ones that existed before Drive to Survive, have grown in value.
F1 Sponsorship Values Rises
One of Formula One’s longest-running worldwide partners, international shipping company DHL, extended their alliance in early 2024 in a deal valued at $42 million annually.
The ongoing support of such sponsors is evidence of Formula One’s sustained development. In May 2023, Heineken was also extended, making them the most valued partner of the series, with an estimated yearly sponsorship value of $60 million. With the partnership with Qatar Airways, Formula One has secured its most valuable arrangement since Drive to Survive spurred its tremendous popularity boom.
Taking over from competitor Emirates, F1 announced in February 2023 that it would get an estimated $45 million per year from the new official airline partner. According to reports, Emirates’ annual partnership value with F1 was just about $25 million, highlighting F1’s rapid value rise in such a short period.
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