Since Liberty Media has recently acquired Formula One, they are planning to do an extreme overhaul to the F1 sport that would see each Grand Prix event become as big as the Super Bowl.
The sport of F1 has seen some major changes in the recent years and this could bring the sport to an even bigger level that it already is at currently. The new owners plan to achieve this by running week long festivals aimed at attracting sponsors and engaging spectators & fans.
They even went on to say that they want to expand the sports presence in the United States, holding races in some of the most renowned states like New York, Miami, Las Vegas and Los Angeles. Liberty Media believes this would completely rehaul the audience of Formula One to further capitalize on lost revenues and ratings.
To further increase interest in F1; Liberty Media is setting up a department of marketing experts to promote rivalries between the teams and the drivers. Imagine what the UFC is doing with their fighters and implement that to F1. Ok, maybe that’s a stretch, but you get the point.
An executive from the company said that: “There’s no marketing, no research, no data, no digital platforms”, he also mentioned how this sport has so much more to offer; “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.”
If you ask me, this is great for both the drivers and the sport as it further increases awareness and interest in the technological aspect of the sport and what goes down behind the scenes.