Redbull's Ridiculous Sponsoring of Events
Business and Management
Submitted By srikark
Why does RedBull sponsor so many events when
Their primary source of revenue is selling just an energydrink??
RedBull sponsors so many events which amounts to almost 50% of its revenue. In the end what benefit does the company get by going out of its way to sponsor these events? In the end was it all worth it?
It’s highly unlikely that you haven’t heard the energy drink giant named “Redbull”. Redbull was founded in 1984 and has been progressively growing as a giant in energydrink business ever since. Currently it is capturing 43% of the entire Energydrink business in US and 70-75% globally. RedBull company is also known for its sponsorship of a range of sporting events and teams. In 2014, a total of 5.612 billion cans were sold in over 167 countries. 10,410 employees generated €5.11 billion in revenue.The company is known for its ridiculous sponsoring of extreme sport events including cliff diving, BMX, skiing, flying, downhill and free-ride mountain biking and skateboarding .RedBull is known for its “RedBull Stratos” project for which it sponsored €50 million for a skydiver Felix Baumgartner to perform a ‘supersonic free fall’.RedBull has been assosciated with F1 racing since 20 years and currently owns 2 F1 teams ‘Red Bull Racing’ and ‘Scuderia Toro Rosso’ .In the past decade RedBull was expected to have spent $1.2 billion on these F1 teams .RedBull owns 5 Football clubs ‘FC Red Bull Salzburg, New York Red Bulls, Red Bull Brasil, RB Leipzig and Red Bull Ghana’. These are just to name a few of the events and teams sponsored by RedBull.
The space jump featured Felix Baumgartner making a freefall jump from 24 miles above the earth gave Red Bull roughly 8 million eyeballs watching...