WPP's investment, announced earlier this week grants the company a minority equity stake in JMI.
"Growth in this region was already a priority for JMI which is why we were an early mover," says Marsh. "Having access to the WPP network should accelerate this growth and make it more efficient."
WPP's partnership with JMI comes just two months after the holding company joined forces with global sports, fashion and media company IMG. According to JMI, the latest investment represents a partnership that will see JMI leveraging WPP's global network while providing a direct route for WPP's clients to be introduced to motorsports.
"There are opportunities almost everywhere," says Marsh. "There are the more powerful platforms, like F1, and smaller regional and local events that are more flexible. It depends what the brand is trying to do. Some properties in motor sport can be considered a media buy, others work well for reflecting values onto a brand. There’s a lot more opportunity and flexibility than most people realise – and motor sport can be extremely cost effective and its benefits very measureable."
According to Marsh, Asia is an especially strong growth market for both motor racing — India, for instance will hold its first Formula 1 Grand prix in October this year — and related marketing activities. "We are active forJohnnie Walker, LG and UBS at every one of the 19 F1 Grand Prix around the world," he says. "Seven of those Grands Prix are in Asia so our offices in the region are becoming increasingly relevant. Equally important is the development of regional an domestic properties in the region. Increasingly our clients are asking us to find Asia-focused solutions."
