Austin Gains $191 Million From U.S. Grand Prix
AUSTIN, Texas – The city of Austin, Texas gained global media coverage worth $191.2 million from hosting the 2012 United States Grand Prix, according to new research by Formula One industry monitor Formula Money.
This comprised $166.7 million in exposure generated verbally and visually through television broadcasts and a further $24.4m through mentions of Austin and Formula One in print and major online media.
The event also generated a high level of exposure for the other brands involved in Formula One. The 162 brands displayed on cars and trackside hoardings during the race gained exposure with an advertising value equivalent of $150.9 million. This total ranks the United States GP as the best race of 2012 in terms of brand exposure, giving F-1’s sponsors bigger benefits than famous events such as the Monaco, British and Italian Grands Prix.
Two thirds of this exposure, $100.2m, was experienced by the sponsors of F-1’s teams, meaning that the race was a big benefit to the sport’s competitors. Trackside advertisers benefited from exposure worth $49.8 million, despite the Grand Prix having no race title sponsor to share in this coverage.