Wheels haven’t fallen off F1 yet

I didn’t understand your cover story “Beached Buggies” (MW last week), which highlighted Canon and Travelex quitting as F1 sponsors.

It was an excuse for you to highlight an apparent decline, but your figures are wrong. F1 is suffering like every sport in the media recession, which has halted the 35 per cent a year growth of the past five years. But decline? No. Even 2003 has seen more sponsors come in than leave.

GlaxoSmithKline made a $24m (&£14m) commitment for three years, for example, and Budweiser the same amount over five years. The net gain has been about double the net loss.

F1 has never made any secret of its weakness in the US, but this is balanced against its massive strength in the rest of the world.

Travelex was a little-known name three years ago when it announced its F1 sponsorship, now look at it. How is Anthony Wagerman going to replace the coverage he has lost? It’s all very well criticising, but has he a solution to replace a $2.5m (&£1.5m) a year spend with the high exposure global coverage he wants? Of course not. It will cost him five times that to make even a dent.

Tom Rubython

Editor in chief

Business F1 Magazine

London EC1

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here