Red Bull, an Austrian-based energy drink company, is one of the most popular brands in the entire world. Their name might not be as well known if it wasn’t for their odd, yet effective marketing strategies. Red Bull has been sponsoring sports teams, athletes, and events for years, and people have gotten used to seeing Red Bull branding wherever they go.
Red Bull is well known for their presence in extreme sports as a popular sponsor for athletes doing all sorts of wild stunts and performances. According to Segmentify, Red Bull has sponsored over 500 athletes. Red Bull targets people who are willing to do things that are so crazy no other company would think about sponsoring them, which has given Red Bull a market advantage over their competitors. Red Bull has sponsored people doing things from extreme cliff diving all the way to jumping from space.
Many of the most extreme competitions are sponsored and operated by Red Bull. Voy Media states that Red Bull organized a wide range of events that challenge athletes and non-athletes alike. Red Bull hosts events like Red Bull Soapbox and Red Bull Flugtag, which promote creativity and design. On the other hand, they host many skill-based events, like the Red Bull Cliff Diving World Series or the Red Bull Air Race. They also host competitions that focus on less common sports, like the Red Bull Dance Your Style competition. Red Bull does all these events to share sports and activities that would otherwise not be possible.
Many fans from a variety of different sports have noticed Red Bull having a presence in their leagues. Instead of just sponsoring teams, Red Bull owns their own teams. According to The Mirror, Red Bull has partial or majority ownership over 17 sports teams in 11 different leagues. Red Bull owns and operates five different soccer teams in five different countries, two Formula One teams, two rallycross teams, three motorcycle racing teams, two ice hockey teams, a sailing team, a skateboarding team, and a skiing team. Many of these sports teams have seen great success over the last few years, which has heightened the popularity of both the teams and the Red Bull company itself.
Red Bull also has well known advertisements that use a unique animation style that mimics an animation drawn by colored pencils. While the marketing stunts can be quite costly, the resulting profit makes it entirely worth it. Cascade reported that in 2022, Red Bull profited around $10.24 Billion. Red Bull spent about $3.1 billion on marketing costs, which is around 25 to 30 percent of their total revenue. A contributing factor to their large profits is their high market share in countries like the United States. All of Red Bulls stunts also help advertise their brand, which helps cover some of the costs.
Red Bull’s marketing strategy is one that seems odd on the surface, but is highly effective and has helped the company become one of the biggest in the world.
