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SBD Global/October 21, 2013/Marketing and Sponsorship

F1's Red Bull Racing Boosts WPP Sponsorship Revenues By Almost 60% To £27.6M

Red Bull Racing's dominance in F1 "doesn't just have an impact on the team and its stakeholders," according to Christian Sylt of PITPASS. A report reveals that revenues at Prism, the largest sponsorship agency of advertising company WPP, rose 57.7% to £27.6M last year, "driven by increased work with several brands connected to Red Bull Racing." Many of Prism's clients are focused on F1 "with its roster including luxury car brand Infiniti and watch manufacturer Casio." Both are partners of Red Bull Racing, which looks set to clinch its fourth consecutive championship at next weekend's Indian Grand Prix. In addition to its work in motor racing, Prism "also has clients in other sports including the Olympics, football's Champions League and the World Cup" (PITPASS, 10/20). In London, Jon Rees reported the performance of WPP’s U.K. arm "is likely to have been better than in other parts of the world." WPP’s global rivals, U.S. agency Omnicom and France’s Publicis, which are merging, "reported their numbers last week." However, analysts reckon the performance of three of the world’s major advertising groups "bodes well for the year ahead, boosted in part by next year’s World Cup, which is likely to lead to a big increase in advertising spending" (DAILY MAIL, 10/19).
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