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Tuesday, April 16, 2024
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Formula 1 Returns to North America

  • After a two-year absence, Formula 1 is making its way back to North America.
  • The U.S. Grand Prix takes place on Sunday in Austin, Texas.
Formula 1/Design: Alex Brooks

After a two-year absence, Formula 1 is making its way back to North America for the U.S. Grand Prix on Sunday. 

The sold-out race at Circuit of the Americas track in Austin, Texas, is expected to have 360,000 fans in attendance.

Liberty Media acquired F1 for $4.6 billion in 2017, and the auto racing championship has been on the rise since. 

  • 55% of F1 fans say the sport is in better health than five years ago, per Nielsen.
  • F1 signed a 10-year deal in April to host the Miami Grand Prix at Hard Rock Stadium.
  • The series has seen recent viewership on ESPN up 53% compared to 2020.
  • In June, Crypto.com signed a five-year, $100 million partnership with the racing series.

Liberty Media — which also owns the Atlanta Braves and SiriusXMposted $2.16 billion in revenue in Q2 2021, a 15% increase year-over-year. 

Its F1 segment generated $501 million in revenue during the quarter, bouncing back nicely from a pandemic-afflicted $24 million haul in Q2 2020.

F1 wants to bring races to more cities across the U.S., including Las Vegas and potentially a “dream” race in Manhattan.

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