Sponsored by a bookmaker, Band earns almost R$ 100 million with Formula 1
Band signed six sponsorship agreements for the transmission of the 2023 Formula 1 season and is close to reaching the BRL 100 million mark in revenue. Despite the need to offer discounts, the amount raised is considered satisfactory by the broadcaster. The renewal of the modality’s rights until 2025 was essential for the brands to have confidence to settle the contracts.
According to Notícias de TV, Faz o Bet Aí becomes the first bookmaker to support Formula 1 in Brazil. In addition to the company, Band also joined forces with other brands such as Claro, Heineken, Ipiranga, Philco and Renault. However, the channel chose not to reveal the values of its agreements.
The Notícias da TV website also revealed that Band offered the market sponsorship quotas for approximately R$ 315 million. However, they were negotiated at least 85% off by the commercial sector. Collection reached R$ 94.3 million, the highest in recent years.
Band and Formula 1 kept the profit society molds in the new contract. The broadcaster will share advertising sales with Liberty Media. In the three years of the contract, the billing projection is BRL 360 million – twice as much in relation to the first contract, closed between 2021 and 2022.
The continuity of the partnership in this model was a requirement of Liberty Media, which is satisfied with the result of the season transmitted by the station. For the group, it is more interesting for F1 to continue on open TV – which has a larger audience – than to lose in repercussions.
Band will broadcast five consecutive seasons of Formula 1
With the new agreement, Band will show five consecutive seasons of F1 throughout Brazil. The broadcast began in 2021, after Globo gave up the category after four decades. Since then, the station has reached a good audience, around 4 points in Greater São Paulo.
In addition to broadcasting on free-to-air TV, Band also broadcasts the motoring modality on BandSports, its channel on cable TV. Allied to this, the broadcaster has an audience mostly from class AB, over 35 years old, which corresponds to a range with purchasing power compatible with the products advertised throughout the races.
