The Americanization of Formula One: New Owner Wants It to Become a 'Destination Event'
If you live in the United States, odds are that you prefer NASCAR over Formula One. However, if you occupy space anywhere else in the world, the opposite is likely true.
Liberty Media, the American company that purchased Formula One for $8 billion earlier this year, is planning to flip the script and revamp the motorsport to better appeal to everyone — especially Yankees.
The strategy revolves around stretching the traditional weekend of practice, qualifying, and actual race into a full week’s worth of events and coverage, aping the stock car strategy of turning a single competition into an automotive Burning Man.
A Formula One senior executive discussed the plan to boost sponsorship and poach fans from NASCAR with the Financial Times, explaining that the company planned to make each Grand Prix the auto racing “equivalent of the Super Bowl.”
The exec also said F1 is considering launching additional Grand Prix events in big U.S. markets — perhaps New York, Miami, Los Angeles, and Las Vegas. Another essential element is to improve marketing and online outreach for the current fanbase while doing everything possible to sell the sport to newbies in America.
“There’s no marketing, no research, no data, no digital platforms,” the unnamed executive said. “This sport has unique global content and hasn’t done enough to take advantage of that. We need to build the rivalries and enable people to understand the technology that goes into the sport.”
However, the key strategy revolves around turning Formula One into a happening for automotive enthusiasts, with GP races becoming cultural events on par with the Super Bowl or World Cup — something even non-motorsport fans can enjoy.
“We want to create destination events, not just a race, that people feel they have to be at,” the shadowy exec told the Financial Times.
[Image: Federation Internationale de l’Automobile]
A staunch consumer advocate tracking industry trends and regulation. Before joining TTAC, Matt spent a decade working for marketing and research firms based in NYC. Clients included several of the world’s largest automakers, global tire brands, and aftermarket part suppliers. Dissatisfied with the corporate world and resentful of having to wear suits everyday, he pivoted to writing about cars. Since then, that man has become an ardent supporter of the right-to-repair movement, been interviewed on the auto industry by national radio broadcasts, driven more rental cars than anyone ever should, participated in amateur rallying events, and received the requisite minimum training as sanctioned by the SCCA. Handy with a wrench, Matt grew up surrounded by Detroit auto workers and managed to get a pizza delivery job before he was legally eligible. He later found himself driving box trucks through Manhattan, guaranteeing future sympathy for actual truckers. He continues to conduct research pertaining to the automotive sector as an independent contractor and has since moved back to his native Michigan, closer to where the cars are born. A contrarian, Matt claims to prefer understeer — stating that front and all-wheel drive vehicles cater best to his driving style.
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Bernie got $8 Billion for something that just hasn't gained traction in the US market, ever ? Nice, someone has to buy those mega-yachts. His will look good at Monaco next year....
I think it would help if constructors had more latitude in car design and engine type like they had in the 60s and 70s. Today's F1 is just very expensive spec racer series with identical cars and dull-sounding engines. Go on YouTube and listen to a Matra V12 or Cosworth V8 and you'll hear what I mean.