CNBC leaves Marussia in favor of Lotus
If driver and engineer transfers often make headlines, we must not forget those of the sponsors. Thus, the economic news channel CNBC has decided to leave Marussia and join Lotus.
At the beginning of the 2011 season, CNBC, an American television channel specializing in economic news, joined the team that was then called Virgin Racing. The relations between the two entities were certainly facilitated by the presence of Richard Branson, who was the title sponsor of the team, without being the owner.
During the change of name and ownership with the acquisition by Marussia, CNBC perceived that there was still an interest in being present in F1 and therefore maintained its commitment to the Russian team.
Nevertheless, for her third season in the sport, she decided to partner with another team. The choice of Lotus is quite logical: the team reached a new level last year with the arrival of Kimi Räikkönen, which allowed them to establish themselves in the leading pack. But beyond the on-track results, it is certainly the team’s profile that attracted the CNBC executives.
Since its acquisition by the Luxembourg investment fund Genii Capital, it has been very active on the front of partnerships and sponsors. It has managed to attract major consumer brands that were previously absent from F1: Microsoft, Unilever, Coca-Cola… By definition, these companies are large consumers of television advertising, especially on economic news channels.
The agreement made with Lotus likely stipulates that CNBC will pay for its presence on the nose of the car, as well as on the uniforms and suits of the drivers and team members, through advertising spots on its networks. The team can then resell these spots to its existing sponsors, or even to new partners, enhancing their association with the Enstone team since CNBC and its affiliates reach nearly 390 million viewers worldwide.
This is what Charlotte Westgate, Vice-President of Marketing & Communications at CNBC, explains: « The partnership between CNBC and Lotus F1 Team is extremely exciting. It is an innovative marketing solution that offers business and visual opportunities for both parties. The Formula 1 audience complements ours, consisting of influential viewers around the world. We look forward to working with Lotus F1 Team and wish them a successful 2013 season. »
Upon seeing this communiqué, it is interesting to compare it with the one the same person might have made last year regarding their partnership with… Marussia: « CNBC’s partnership with Marussia F1 Team is an innovative solution that offers marketing and commercial opportunities for both brands. The partnership allows us to expose the CNBC brand to a very large global audience, which complements our base of influential viewers who are located all around the world. »
So even if one is a communication specialist, it doesn’t prevent sometimes lacking imagination in one’s comments…
With the participation of www.Racingbusiness.fr
