We have become accustomed to brokers sponsoring certain teams or sports, but on Friday TradingView opened a new page with NASCAR. The charting software company which owns one of the most sought-after products on the part of traders of multiple asset classes ventures into the space with a race car sponsorship.
TradingView has committed to sponsor two cars during the 2018 Monster Energy NASCAR Cup Series season. The company’s contract includes two cars – No. 51 and No. 52. The debut of the charting technology provider is at the Bristol Motor Speedway this weekend. The event is especially interesting being a night race.
The 2018 Chevrolet Camaro No. 51 will be driven by Reed Sorenson. He is currently 39th in the yearly NASCAR Championship with 41 points. Sorenson has been driving since he was six years old and began his career as a full-time driver in 2003.
The second race where TradingView is set to show off its brand takes place on Sunday, September 2, at the Darlington Raceway for the Bojangles’ Southern 500.
NASCAR Popularity Decline
The popularity of NASCAR has been in a consistent decline over the past several years. That said, the branding effort launched by TradingView is probably aimed to cater to a demographic target which has a higher amount of savings in the US.
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According to ratings data, the first six NASCAR Cup races this year, which included the world-famous Daytona 500, attracted a total of 31.07 million TV viewers. The number has dropped almost 30 percent when compared to the first six Cup races in 2016 when the audience was closer to 43.13 million.
Looking at the numbers from the race in Talladega in May, only about 23 percent of TV viewers were aged between 18 and 49. Last year the number was 26 percent. The same race has attracted a total of 4.7 million viewers on Fox. The figure is 20 percent lower when compared to last year when the race attracted 5.9 million viewers.
Growing Userbase of TradingView
While NASCAR is in decline, the popularity of TradingView has been on the rise. The company has reported that it is used by more than seven million people around the world. The company registered over 200 percent growth over the past three years.
TradingView’s venture into sports sponsorships marks an unusual step for a trading technology provider.
“We’ve never been ones to think inside the box, so while other social and investing platforms might not be sponsoring NASCARs, following suit isn’t what we do best,” the company elaborated in an official blog post.