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Redbull's Ridiculous Sponsoring of Events

In: Business and Management

Submitted By srikark
Words 886
Pages 4
Why does RedBull sponsor so many events when
Their primary source of revenue is selling just an energydrink??

Abstract:
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?

Introduction:
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.
Analysis:
The space jump featured Felix Baumgartner making a freefall jump from 24 miles above the earth gave Red Bull roughly 8 million eyeballs watching…...

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