Formula Drift signs a new three year deal for a presenting sponsor of the series today with a company called Blackvue. The company Blackvue is owned by South Korean based technology company Pittasoft Co., Ltd. The three-year agreement names BlackVue as the “Presenting Sponsor and Official Dashcam” for the Formula Drift series. This shouldn’t come as a shock I think if you follow GoPro from the business side. The stock in 2014 managed to reach $86 and now sits around $12 today.
I am not a financial analysts but the loss in market cap alone at $74/share has to impact the company in the marketing pocket book with things such as presenting sponsorships of race series. Blackvue being the Official Dashcam according to the Formula Drift PR does sound like it leaves room for camera companies to still sponsor the series. I could see GoPro staying on with the series in some smaller capacity if Blackvue allows them to do so.
Hopefully the marketing machine behind Blackvue can concept some great product placement like we saw during the GoPro era of Formula Drift. Blackvue seems to promote cloud technology with its dash cameras so maybe we can except some in-dash camera viewing from all the drivers during an event through their services? Hopefully the new partnership promotes an improvement with the user experience along with making it better to watch from home for all the fans. Below is a shot of the product I found on the website.