CEO: INDYCAR Sponsorship Jibes With PNC's Growth
The chief executive officer of Pittsburgh-based PNC Financial Services Group Inc. (NYSE: PNC) says a deal with Chip Ganassi Racing to serve as primary sponsor of 2008 Indianapolis 500 winner Scott Dixon will be a catalyst for expanding the bank's brand nationally. Bill Demchak says hooking up with the four-time IndyCar Series champion also comes at a good time for the series.
"If you just look at the statistics," Demchak said in a Studio (i) interview with Gerry Dick, "viewership of the Indy series has grown by 55 percent over just the last four years, which is phenomenal, particularly when you compare it to the viewership of other sports series."
He says as the company continues to grow its national footprint, having high visibility with one of the series' most recognizable and successful drivers can be a foot in the door in new markets. Eight cities with races in the 2018 season are part of a PNC market. The logo on Dixon's car "basically brings, you know, the first brand awareness, in some cases, to what PNC Bank is. Our name's out there, people see it, they say 'oh, yeah, I know that institution,' so that when we arrive -- either physically in a branch or digitally through one of our mobile offerings -- they know who we are," Demchak said.
The 102nd running of the Indy 500 will take place May 27. You can catch more of the interview with Demchak this weekend on Inside INdiana Business with Gerry Dick.