Study: 20% Of The Fortune 500 Invests In NASCAR
A new analysis by NASCAR revealed that more than 20% of the Fortune 500 invests in NASCAR in some form or fashion. The study looked at companies that sponsor teams, tracks, and the sanctioning body or are media partners and found that 114 Fortune 500 companies invested in NASCAR in 2012.
"Some of the world's most profitable and successful corporations chose NASCAR to help drive their businesses," said Brian France, NASCAR chairman and CEO. "These companies bring a great amount of rigor to where they make investments. This is especially true when it comes to marketing -- and the sponsorship channel in particular -- where they are looking for strong return on investment."
The survey comes on the heels of Formula Money's report that a third of the world's 100 top companies have in the past five years been involved in Formula 1 as either sponsors, owners or investors.
"There are more opportunities for companies to become involved as sponsors in NASCAR now than there were four years ago, when there was different dynamic in both the economy and media and marketing landscape," said Steve Phelps, chief marketing officer for NASCAR. "We have the most brand loyal fans in all of sports. More than three out of five avid NASCAR fans agree that even in tough economic times, they will continue to support NASCAR sponsors over other brands."