Let's face it, companies like Red Bull don't sponsor awesome events for fun - they don't spend their money for nothing - it's all about advertising and brand building. That said; that out of the way, we're flippin' glad that they do and that's why we don't mind calling them awesome.
Red Bull sponsor dozens of events in South Africa, including music, BMX, freestyle motocross, surf, skate and even b-boying! Without sponsorship there would be far fewer (perhaps no) whole-day music concerts and extreme sport events... in fact I'd risk saying that most (if not all) large sporting events would simply not exist.
If you have an iPad - check out the Red Bulletin iPad app. I don't have an iPad, so leave a comment here and tell me what it's like.