Haas, Stroll and Parabolica...previously unknown terms are now household names as F1 pulled off one of the greatest growth moves in sports history. The Drive to Survive series has doubled F1 viewers on ESPN as a new generation of revheads are born. We look into the new F1 mania and how content is the newfound growth engine for so many companies.
We have looked into the “Flix Effect” in the past, the incredible growth in certain trends based on Netflix. Barbie toy sales are closely correlated with Barbie Netflix episode viewing hours. Sales of chess sets doubled after Queen’s Gambit was released. The most significant example to date is Netflix’s positive impact on Formula 1.
Viewers of Drive to Survive have surpassed 50million as interest in racing has never been higher. ESPN reported their per race audience almost doubled to over a million fans per race. The USA doesn’t have a single driver on the grid yet Americans love the sport. On top of the race, the annual GP in Austin, a second race in Miami has been confirmed and a third race hasn’t been ruled out.
Let’s talk about markets. Formula 1 is actually traded on the Nasdaq under the ticker $FWONA. Owned by Liberty Media Corp which also owns SiriusXM radio. The US$17b company is sitting at all-time highs.