Correction: This story has been updated to clarify that Kia Motors is not an official Sundance Film Festival sponsor.

NEW YORK (TheStreet) -- The Sundance Film Festival is more than a place for the entertainment industry to meet -- it's fertile ground for other companies to gain exposure. Take rum, for instance.

There's no denying today's social implications from sending a tweet on Twitter (TWTR) - Get Twitter, Inc. Report or posting a picture on Facebook's (FB) - Get Facebook, Inc. Class A Report Instagram platform, said Lyle Tick, vodka category director at the privately held Bacardi. These types of events allow the company to advertise its brand quite heavily. 

Bacardi also owns Dewar's scotch, Bombay Sapphire gin and Grey Goose vodka, and all are gaining exposure during the film festival. For instance, Bacardi is sponsoring the "Grey Goose Blue Door" lounge at Sundance, giving the company a chance to show "what we're doing and who we're celebrating with," Tick explained. 

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JPMorgan Chase (JPM) - Get JPMorgan Chase & Co. (JPM) Report is a sponsor at the event, giving customers private screenings, special events and a lounge, says Jennifer Roberts of Chase Card Services. 

"Customers love this," she explained. She said those customers would likely be disappointed now if they showed up one year and the Chase sponsorship wasn't there. The company has been a sponsor in each of the past five years. 

Kia Motors is sponsoring a "supper suite" with a steakhouse to show off the "new face of Kia," which now includes SUVs and luxury models as well as small vehicles. Kia's Jay Joyer says the automaker has transformed in the past six years.

The Sundance Film Festival estimates the event generates $65 million in media value. This makes official festival sponsorships or unofficial brand events, which can easily run into the hundreds of thousands of dollars, well worth the price. 

--Written by Bret Kenwell 

Follow @BretKenwell