MONTRÉAL, May 31, 2018 /CNW Telbec/ - The Formula 1 Grand Prix du Canada (F1GPC) generates a significant reputational gain for Montréal around the world, according to a study conducted by Mesure Média, a Québec firm that specializes in analyzing media.
At the request of Tourisme Montréal and Octane Racing Group, which promotes the F1GPC, Mesure Média analyzed more than 1,500 media impressions published or broadcasted between June 1 and 16, 2017, in daily newspapers, magazines, radio, television and news websites. Among these news items about the F1GPC, 1,307 or 82% mentioned "Montréal", generating a reputational impact of more than $6 million, with a positive difference of 67%.1 The television coverage of the race and free trials was valued at more than $24 million, with a positive difference of 110%.2
According to Tourisme Montréal, the F1GPC is one of the most important events held in Montréal, not only because it boosts the city's renown but also because it attracts large volumes of visitors. "Over a three-day period, the Formula 1 Grand Prix du Canada draws far more tourists than any other event in the country. We are delighted to finally be able to quantify the reputational impact and media visibility that it generates. By enhancing the city's reputation, it positions Montréal as a leading international tourist destination," said Yves Lalumière, President and CEO of Tourisme Montréal.
Here are the highlights of the report:
Media coverage of the race:
- More than 88.9 million television viewers watched the 2017 F1GPC.
- More than 150 media outlets from 25 countries covered the 2017 event.
- Media coverage in daily newspapers generated a major reputational gain for the F1GPC and Montréal valued at $3,762,104 (positive difference of 65%).
- Radio coverage generated a reputational gain of $1,330,927 (positive difference of 71%). Online coverage generated a reputational gain of $2,964,266.
- Media coverage was highest in Canada and Europe.
"I am very pleased with the results of this study on Montréal's reputation, which our event has been continually enhancing for the past four decades. The fact that international media are interested and provide positive coverage to their readers and listeners is thanks to the teams who prepare and present the Grand Prix, as well as all those working in Montréal's tourism industry. Of course, we mustn't overlook the warm welcome extended by all Montréalers," said François Dumontier, President and CEO of Octane Racing Group.
1 Methodology information:
After determining the non-negotiated advertising value equivalence of each news item, Mesure Média examined various variables to determine the reputational gain or deficit (in dollars) of each item about the F1GPC. Various quantitative and qualitative criteria were used to determine the value of each report, depending on the journalism strategies (headline, interview, report, news brief, positioning of the news item, etc.) and graphic elements (photo, breakout, headline, etc.).
The value of television broadcasts of the trials, qualifications and race was determined by Montréal firm Touché !, which is a member of the international PhD group, using two key data: an average cost (CPM) of $13 to reach 1,000 viewers for 30 seconds and an estimate of 90 million viewers.
2 Data on print media coverage and television coverage cannot be added together because they are complementary and not comparable:
- Print media coverage is produced by journalists whose job entails presenting all aspects of a given topic. The coverage is independent because the media outlet decides whether or not there will be report and what it will examine.
- Television coverage of an automobile race follows other rules because it occurs when television stations from around the world purchase the rights to receive a signal and broadcast it to audiences.
SOURCE Tourisme Montréal
For further information: For questions concerning the study's methodology and the calculations used to determine reputational gain, please contact: Caroline Roy, Vice-President, Mesure Média, 514-284-2860, ext. 3; For interview requests, please contact: Andrée-Anne Pelletier, Manager - Corporate Public Relations, Tourisme Montréal, 514-844-3344 / cell: 514-248-7844, [email protected]; Sandrine Garneau-Le Bel, Senior Advisor, Communications and Public Relations, FORMULA 1 GRAND PRIX DU CANADA, 514-350-4731, extension 233, [email protected]