Mar 24, 2014, 10:30 AM EDT
Less is more for Verizon Wireless as a company, according to Hulman & Co. CEO Mark Miles.
As Verizon has scaled back its sports sponsorships to just the National Football League and now title sponsor of the Verizon IndyCar Series, there is more room for growth, activation and promotion for both.
The NFL may be the sports behemoth, but IndyCar appeals to Verizon from a technology standpoint. Miles explained it during an appearance on Inside Indiana Business with Gerry Dick, in an interview with reporter Bill Brenner.
“They’ve been on a strategy where they’ve reduced their sports sponsorships, but increased involvement as title sponsor with us,” Miles said.
“Why? They have two principal sponsorships, NFL and IndyCar. They are determined to spread the message that they are a technology company, not just a telecommunications company.”
Verizon already released a teaser ad to go along with the entitlement partnership announcement. Now, Miles said the ad budget will be huge to moving IndyCar’s story forward.
“When they looked at our sport, they see so many moving parts, and want to improve the operations,” he said. “Their plans for that are terrific, and it will make a difference. They have a $1.2 billion advertising budget. They don’t want to keep it a secret.”
Other topics of the interview included more of his thoughts on expanding the month of May and discussing the various concert lineups as well. You can see a link to the full interview here.
The series kicks off this Sunday at St. Petersburg, with the first race on NBCSN and NBC Sports Live Extra Long Beach on April 13.
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