Liberty's transformation of F1 sponsorship persists.

      "Red Bull is currently experiencing increased brand competition in Formula 1."

      The sponsorship strategy of Formula 1, under the leadership of American mass media company Liberty Media for the past eight years, is becoming more aggressive. With the conclusion of the Bernie Ecclestone era in 2017, the former F1 chairman had steered clear of partnerships with consumer technology and entertainment sectors, preferring to collaborate with traditional industries such as banking, oil, and logistics.

      During the Liberty Media era, marked by a Netflix series and an upcoming official movie featuring Brad Pitt, the emphasis has shifted towards appealing to a younger demographic that includes a greater percentage of female fans. As a result, a variety of consumer brands have entered the fray, with Pepsi, along with its brands Gatorade and Doritos, being the latest additions. As mentioned by Kronen Zeitung, "Red Bull is now up against brand competition in Formula 1."

      The top-tier racing series has inked a long-term agreement with PepsiCo, which will provide an official energy drink named Sting. The announcement video for the Pepsi partnership featured the recognizable eyes and nose of Daniel Ricciardo behind a helmet visor. Gatorade is set to be the official sponsor for F1’s sprint races initiated by Liberty, while other notable brands such as Disney, Lego, Hot Wheels, Kit Kat, and McDonald’s have also joined the sport.

      Thomas Josnik, Puma's motorsport chief, shared with the Financial Times that the "much broader and younger audience" in Formula 1 has rendered the sport "significantly more appealing." He noted, "It's no longer solely about the sport; it's about the whole culture surrounding it, which encompasses fashion, celebrities, and music."

      Jonathan Jensen, a consultant and academic with a significant interest in F1, clarified: "With five events now taking place in North America, it’s now much simpler for brand marketers in the west to justify their expenditures. F1 drivers and teams have become much more recognizable in the US, which has allowed consumer brands to effectively activate F1 sponsorships in the American market."