The TRPs may not compare with cricket but F1 is a potent marketing opportunity.According to Sam Balsara,CEO of Madison,"F1 as a concept has tremendous appeal for young,modern,dynamic and fast paced companies.They want to appeal to people with the same characteristics and F1 offers that platform.The TRPs may be miniscule but exposure will be very high."That's pretty much what convinced Airtel to pitch for the Indian Grand Prix.
Airtel CEO Sanjay Kapoor said"Brand Airtel and F1 is similar,as they both stand for freshness,youth and dynamism.Given the demographics,this is a sport that will be very relevant for India and more so given the 14% growth of the $40 billion sports marketing business(sports,sports entertainment,sponsorships and sports goods retailing) in the country.
TRPs
F1 is about association, an opportunity to engage with the potential consumer,rather than sheer exposure.That is part of a growing trend in the advertising world where the chain has moved from exposure to engagement.Which also explains the money pouring into a sport that still doesn't boast top gear TRPs.According to Anamika Mehta,branch head Lodestar,Delhi:"Typically,the target group is the 15-24 year old and the TRPs for a F1 race is between 6 and 8 against 2 of a home series test match."
The low TRPs mean that there would a lot less money involved when it comes to advertising and more below the line marketing for the event.At any rate when it comes to advertising inventory the Indian feed is only about 600 seconds and a good part of that will be retained by ESPN for pricing it at a premium closer to the event.For now,though,the price of a 10 second ad is roughly Rs 1-1.2 lakh,which is double that of cricket.However,unlike cricket,the duration of advertising is limited since there are no ads in the middle of the race.
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