Monster Energy is still considering their option to renew the NASCAR sponsorship for 2019
Monster Energy had a deadline of December 31 to renew their primary sponsorship of the North American stock car racing series. Due to the late signing back in 2016, NASCAR granted an extension.
Yesterday, Monster Energy hosted a meeting for their investors. During that meeting, the topic of the NASCAR entitlement sponsor was discussed.
“We have gotten a lot more visibility, a lot more recognition for the brand through the NASCAR sponsorship,” Monster Beverage Chairman Rodney Sacks stated to investors.
“It’s very expansive, it’s on TV, it’s appearing on talk shows. We look at the metrics that the NASCAR folk give us and it certainly does seem to have been enhanced.”
“Now the degree is to what degree? That we don’t know. It took us a little bit of time [in 2017] to get up to speed, to get our activation going. We think we’ll see a lot clearer benefits and more benefits coming from that relationship this year,” Rodney Sacks concluded.
Last year, Monster Energy signed on as the primary sponsor late. At the beginning of the season, they didn’t really have a set plan of how to engage fans at the track. In January 2017 they stated, “We went into this at the end of the season at the last minute. We’re going to have to kind of learn as we go.”
Later in the year, Monster Energy was very active at the track. They had supercross bikes putting on a show, the girls and a host of other attractions setup at the NASCAR tracks.
Monster Energy asked for that extension well before the deadline. News broke of the extension back in September 2017.
“It was the right thing to do to give them a little more time to evaluate. We’re letting them do that. We’d love for them to stay for many years, but if they choose not to, we’ve got a great product, we’ll continue on in that regards,” Brent Dewar said of the granted extension.
In the case that Monster Energy elects not to renew their primary sponsorship, NASCAR has a backup plan.
Last week, NASCAR President Brent Dewar stated, “There are meetings coming up.”
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