Formula 1 is enjoying an audience boom like “never seen” before, with the pinnacle of motorsport going from strength to strength across the globe.
It is safe to say that Liberty Media’s strategy to grow the sport is certainly working, with the championship having been on an upward trajectory ever since they acquired F1 in 2017.
Liberty Media’s choice to allow Netflix to film the ‘Drive to Survive’ docuseries has been pivotal to the sport’s recent success, with audience numbers having dramatically increased in North America thanks to the docuseries.
Some have questioned the show’s legitimacy due to some of the forced storylines; however, no such criticism has been made from those watching in the United States, specifically, with the nation loving F1 more than ever before.
The success of the docuseries is correlating into record attendances and TV figures, suggesting that Liberty Media’s strategy is comfortably working.
McLaren Racing CEO Zak Brown revealed that the teams are currently “healthier” than ever before financially following the recent interest spike in the championship, with more sponsors than ever before wanting to get involved.
“I have never seen F1 more popular than it is today,” said Brown.
“I have never seen teams healthier than they are, I have never seen the amount of corporate partners in the sport.
“TV ratings up, record number for races, record number of attendees, digitals through the roof. It is awesome.
“What I am most excited about is to think we are only just getting started.
“The cost cap, over time, we will see a levelling of the playing field so we will go from one or two dominant teams to hopefully five or six that can win races, three or four fighting for the championship.
“That will make the sport even more exciting, which will draw in more fans.”
Almost as a sign of the championship’s recent success, 2023 will see the Las Vegas Grand Prix return to the calendar, with it having not featured since 1984.
The race will feature part of the iconic Vegas strip and will also take place on a Saturday, with it currently scheduled to have the latest start time in the history of F1.
2023 will see three races in the United States and four in the Middle East, highlighting the areas of the world where the sport is currently growing the fastest.
Brown labelled the sport as “unbelievably healthy”, with all the teams being able to “afford” to race in the championship.
“The sport has taken off in North America,” added Brown.
“We haven’t even been to Las Vegas, yet that is going to be another shot in the arm.
“They have just announced a very substantial television agreement with ESPN, and ABC will be the broadcast coverage and that is just in America.
“We have got new races in the Middle East, so the sport is unbelievably healthy and now, with the cost cap, all these teams can afford to be in F1.
“We were losing £100million when I started, which is a documented number. Now, we are cashflow positive which will turn into profit.”