German oil manufacturer LIQUI MOLY has extended its sponsorship deal with F1 for three more seasons over the weekend in Australia.
Having joined hands in 2019, German company LIQUI MOLY has now extended its partnership with F1 for three more seasons until 2022, after the deal was signed between Ross Brawn and Peter Bauman over the Australian GP weekend.
LIQUI MOLY terms it as a the biggest partnership they have done with greater media impact. It partnered F1 in 11 grand prix and also were with MotoGP and Bathrust 12H in 2019, which helped in a larger global presence.
The company is also expanding the deal because it wishes to grow in international market/ “Never before have we concluded a sponsorship deal with a greater media impact than this one,” says Ernst Prost, Managing Director of LIQUI MOLY.
“The unique reach of F1 enables us to increase LIQUI MOLY’s brand awareness all around the world. Formula 1 is premium in motorsport and LIQUI MOLY is premium in oils and additives. Advertising in F1 is a strong signal to both the end users and the trade.
“This helps us stand out from the ever-increasing background noise of the media. In total, a cumulative TV audience of more than 1.9 billion people from almost 200 countries around the world watched these. Such a global reach doesn’t exist anywhere else.
“None of our partnerships is an end in itself, but rather they are building blocks of our marketing concept to support retail sales at our partners. We have such a strong position in Germany that further growth is difficult to achieve.
“And that is why our future lies in international business. There is still enormous potential lying dormant there, which we want to exploit. F1 is an important instrument for this.” At the same time, Formula 1 CEO Chase Carey added:
“The fact that the partnership is expanding after a successful first year, proves the value that F1 can deliver in terms of brand recognition and preference. We are excited to continue exploring ways to further integrate LIQUI MOLY into the F1 ecosystem.”
The 2020 F1 season is off to a rocky start though after the cancellation of Australian GP due to COVID-19 pandemic, which is hitting everyone globally. The actual start remains uncertain and so it could be a difficult year for all involved parties.
UPDATE: After months of wait, F1 confirmed the start of the new deal with LIQUI MOLY, with the first race to feature the branding being the second event to be held in Austria. The branding will be seen in 11 grand prix events until 2022 season.
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