Formula 1 have announced a partnership with CAA-GBG Global Brand Management Group to enhance their footprint as they plough ahead in the era of new media.
CAA-GBG claim on their website: “Our brand management team oversees the strategy execution, managing all aspects of product development, marketing, and distribution to ensure licensees remain aligned with brand goals.
“Our team oversees all aspects of the program, ensuring consistency and success in delivering the consumer’s expectations and the client’s vision.”
Formula 1 and CAA-GBG Global Brand Management Group, the world’s premier brand management company and a subsidiary of Global Brands Group, today announced that they have partnered with Formula 1 to grow their global audience and improve the overall fan experience.
CAA-GBG will focus on licensed product opportunities that leverage the sport’s principles, heritage and advanced technologies in support of the brand’s expansion strategy.
As part of the new strategic plan, Formula 1 is improving its digital platforms and brand experiences, whilst increasing the range and availability of associated products. CAA-GBG will boost Formula 1 fan-engagement efforts across all key verticals including digital following the sport’s rapid social media growth in recent years.
Formula 1 continues to improve fan engagement both at the Grand Prix™ and around the world through multiple touchpoints including F1 TV, a content platform available in 66 territories, including the US, Mexico, Germany and France, as well as in many countries in South America and Eastern Europe.
Frank Arthofer, Director of Digital and Licensing, Formula 1, said: “Formula 1 has developed a powerful strategy for reaching fans wherever they are, whether in the stands, in the Fanzone or online. Our partnership with CAA-GBG will help us further engage with our audience as we grow through strategic consumer product, trademark licensing and experiences.”
Scott Harvey-Nicholls, Executive Vice President of CAA-GBG Said.
“Formula 1 is one of the most exciting sports experiences in the world. We are looking forward to partnering with this iconic brand to help expand its reach through strategic partnerships to ensure that fans across the world can enjoy new ways to engage with this singular racing experience.”