By Alexandra Gomperts
Formula One (F1) has seen a massive resurgence in both interest and ratings in recent years. And while the 2021 season saw a fierce rivalry between Lewis Hamilton and Max Verstappen that helped sparked a reinterest in motorsport, the real credit for F1’s current success is arguably owed to their brilliant changes in marketing strategy.
Historically, F1 was a niche racing sport with a fan base largely consisting of older, male Europeans. Viewership had been on a steady decline during seasons where teams like Mercedes and Red Bull dominated entirely, leading to boring and predictable race results. While other sports were building a social media presence, keeping up with an online market and creating a hub for their fanbases, Formula One banned drivers from filming in the paddock.
But this decline was quickly remedied, with F1 seeing a massive upswing in 2017. This was when Liberty Media Corporation, an American-based media company, acquired the Formula One Group, giving it the exclusive commercial rights to manage the business, marketing and broadcast of the sport. Their goal was to expand globally, capitalize on the younger generation and specifically tap into the U.S. market. In order to achieve their goals, they came up with a digital media-forward strategy.
For the 2018 season, F1 signed a deal with Netflix to film a reality series called Formula 1: Drive to Survive. This show gave fans a behind-the-scenes look at the business management and politics of the F1 grid. Drive to Survive, which has since released a season yearly, interviews drivers, Team Principals and journalists in a documentary style, giving viewers insights into the various aspects of the sport.
The F1 grid consists of 11 teams and 22 seats. With so few cars available for racing, the nature of the sport is inherently cutthroat. Every driver and team is fighting not only for points but also for their seat in the car. Through its revamped marketing strategy, F1 emphasizes the high stakes and drama between drivers and team. In the eyes of the audience, this has transformed F1 from a purely technical motorsport into a human drama that greatly appeals to a younger generation.
The lifting of the filming ban in 2017 also allowed drivers to have their own social media channels, creating personal brands that fans can connect with. Drivers like Lewis Hamilton, Daniel Ricciardo and Lando Norris became “influencers” of F1 by sharing their personalities online. The drivers and their rivalries helped draw more attention to the sport and made fans loyal to the “characters” rather than the car companies. In this way, having so few drivers on the grid is a benefit because viewers are able to remember and connect with each one through social media without being overwhelmed.
Since Liberty Media’s shift in strategy, F1 has become one of the fastest-growing sports in the world. Viewership in the United States alone, a market Liberty Media is vying to infiltrate, more than doubled over the last seven seasons. Additionally, while F1 used to be known as an “old boys’ club,” its expansion into digital media has resulted in a much larger female interest, with women now making up 42% of the total audience.
By developing an innovative digital marketing strategy, Liberty Media was able to transform F1 from a niche European motorsport into a global entertainment franchise. They went from selling pure racing to selling a story, turning previously anonymous figures into household names. They prove that success today isn’t just about the product itself, but how it’s marketed and experienced by a global audience.
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