After missing two years due to COVID-19 in 2020 and 2021, the Formula 1 (F1) Canadian Grand Prix returned to Montreal for the third consecutive year this weekend. Last year, the Circuit Gilles-Villeneuve welcomed 345,000 people, an increase of 7,000 compared to the 2022 figure released by the international race.

With the growing popularity of the event and sports in general, Media in Canada talked to some experts about the opportunities for brands in this field.

Emily Furtado, VP of client services at Media Experts, tells MiC that sporting events like the Grand Prix attract enthusiastic fans who are leaned in and engaged. “With the increased popularity of sports and the evolution of tech, advertisers have the opportunity to create immersive and interactive experiences which are memorable and impactful. Advertisers can choose events that align with their brand values, proposition or product,” Furtado says.

Media Experts, for example, worked with Bell on a partnership with the Canadian Grand Prix, aligning its high-speed internet product with the event that is all about speed, Furtado says.

According to her, in the past, sports events have been associated with a predominantly male audience. However, in recent years, there has been growing participation and interest in sports among women, leading to a more gender-balanced audience. F1 data shows that around 40% of followers are now female, up 8% from 2017.

“Cultural moments also pull new fans into the viewership and attendance of events (no one will forget the Swiftie takeover of the Superbowl this year),” Furtado says. “For the F1, Netflix’s Drive to Survive series unlocked a fresh, young North American market for the sport. A deep understanding of the fanbase and the cultural conversation surrounding the sport is vital to ensure a brand’s investment is breaking through and reaching the right segments.”

Kieran Miles, chief strategy officer at EssenceMediacom, agrees. Miles says advertisers can expect to reach a committed, leaned in, defined audience, that reliably shows up in good numbers to these types of sporting events. “There’s no doubt where F1 fans will be on any given Sunday. If you need to find, reach and connect with large, often higher-income audiences, sports should absolutely be part of the mix,” he says.

Advertising at F1 is also an opportunity for brands to make a big statement, Vistar Media Canada senior sccount executive Olivier Paquet-Thibodeau tells MiC. “Reason being, it’s an established event globally known for its glamour, speed and innovation. Therefore, it’s ripe with opportunities for brands to tap into top-of-mind consumer trends and reach new audiences, in a fast-paced, upscale environment.”

In terms of specific opportunities, OOH is a good channel to consider for F1, as it allows brands to engage with consumers that will be attending, both before and during their journey to and from the event, says Paquet-Thibodeau. “This allows brands to extend their reach even farther than the event itself (especially considering many out of towners from the U.S., and globally attend). It can also be incredibly cost-effective, as brands can take advantage of its capabilities, without needing to invest in the hefty price tag that often comes with official sponsorship,” he says. “Finally, with the weather getting nicer, audiences tend to have more of an inclination to venture outside, which opens up greater opportunities to engage with those people as well.”

On the TV side, any activation around F1 is done with the rights holder in the country, which is TSN. “But with TSN being made available on several different streaming platforms in Canada, those activations will reach viewers beyond linear specialty channel subscribers,” says Roku senior account executive of platform sales Chris Faulds.

“With live sports being one of the last genres that is appointment viewing for TV users, there is a lot of value for brands to align with sports properties,” she says.

Faulds says that as Roku continues to add more sports-related content, either through in-house productions like the Rich Eisen Show or by adding more channels, they are seeing sports content drive a lot of unique viewers and streaming hours. “I wouldn’t say that it’s a trend, but more a direct correlation of the more sports content you provide, especially live sports, the increase in viewership just naturally follows,” she says.

However, while broadcasters offer many formats and opportunities to reach fans while in the comfort of their homes, participating onsite is a challenge, says Furtado. “Opportunities onsite are more limited, and brand alignment is key to standing out from being just another logo,” she says. “To be successful, brands need to add to fans’ experience by creating impactful and memorable moments.”

Miles also believes that brands don’t have it easy, as everyone is seeing the same opportunities in these events. “If you’re going to jump into sports you need to make sure to get attention for your brand in the sea of brands that also shows up to sports events. You need to think through how to make a meaningful connection between your brand and sports fans.”

“The next challenge I see for marketers is in being clear about what we all mean when we say ‘Sports Fans’,” he says. “Firstly, sports aren’t universal. Maybe 40 years ago most Canadians would be reliable followers of all three of hockey, baseball and football. Today, as our population changes and as sports globalize, the mix of sports that any particular individual is interested in is changing and diversifying. Take cricket, which is currently hosting it’s men’s T20 World Cup in the U.S. This would’ve been unheard of only a few years ago.”

“Then there’s what fandom means,” says Miles. “We can reflexively jump to images of face-painted, game going, die-hards. However, even within individuals as their interest cuts across sports fandom can mean everything from that, to occasionally watching, to maybe only following scores,” he says. “There’s also the change in what we’re even fans of.”

“We’re seeing particularly in younger audiences a shift to fandom that’s rooted in players not teams, such as Caitlin Clark.”

Looking ahead, Sports will remain as an incredible opportunity for marketers, even if it comes with challenges, says Miles.

For her part, Furtado believes that the sport will continue to be an important industry to watch for brands due to the development of new technology.

“Like many other categories, digital transformation will have a huge impact on the future of sports. AI, VR, and AR will continue to enhance fan engagement and personalize experiences,” she says. “Data collection and analysis will also allow sports leagues and advertisers to better understand what audiences are looking for, what they react to, and how to keep them engaged.”