A major sport is experiencing a surge of interest from Fortune 500 companies. The sport is NASCAR racing.
“For the third consecutive year, the number of Fortune 500 companies utilizing NASCAR as part of their marketing mix has increased,” Autoweek reports. “In fact, nearly half of America’s Fortune 100 companies invest with NASCAR to help drive their business and more than one in four Fortune 500 companies are on board.”
A new analysis released Wednesday by NASCAR indicates that corporate involvement in the sport among Fortune 500 companies was up 7% from a year ago and 20% from 2008, with 130 companies now involved.
High-tech companies are a big part of the picture.
Steve Phelps, chief marketing officer for NASCAR , said: “Technology is incredibly important for us. It’s not only about helping us grow, financially, but how technology helps change people’s perception of NASCAR. Technology helps us on the race track with things like safety initiatives and brings fans closer to the sport they love in many ways.”
Involvement in NASCAR by tech firms was up 66% from 2013, according to the latest analysis.