Formula 1 Reborn: Liberty Media and Netflix Drive to Survive Fuel Sport’s Resurgence

April 19, 2023

Over the years, Formula 1 has gone through periods of decline and popularity. However, prior to 2017, the situation seemed to be at its lowest point: the predictability of the winner, the lack of competitiveness between teams, the complexity and exclusivity of the sport had led to a rapid decrease in fans and sponsors. In this article, we will explore how the arrival of Liberty Media, the Netflix series “Drive to Survive,” and other initiatives contributed to the revival of the sport.

The Arrival of Liberty Media: A New Approach to Formula 1

The acquisition of Formula 1’s commercial rights by Liberty Media in 2017 marked a significant change in the management of the sport. This American group initiated a transformation process to turn Formula 1 from a sports brand to an entertainment brand. Thanks to the first Global F1 Fan Survey, it was possible to identify the needs of fans, particularly the younger generations, and adapt marketing and communication strategies to bring them closer to the sport.

Netflix: Drive to Survive, A Global Success

The documentary series “Drive to Survive” was one of the most significant initiatives in this renewal process. By producing a series of documentaries that showcase the human side and behind the scenes of Formula 1, Netflix helped grow the sport’s popularity worldwide, attract new fans, and increase the championship’s presence on social media.

Beyond Netflix: Additional Strategies to Engage Fans

In addition to the Netflix series, various other strategies were adopted to create a stronger connection between fans and Formula 1. Social media presence was expanded, with content on platforms like TikTok, and new products such as F1 Fantasy and eSports championships were introduced, allowing fans to interact with the sport in a more engaging and lasting way.

The Budget Cap and New Technical Regulations: A More Competitive Future

To ensure a more exciting and sustainable future for Formula 1, changes to the technical regulations and team budgets were introduced. These measures, such as the 2021 Budget Cap and the 2022 technical changes, aim to reduce financial disparities between teams and increase on-track competitiveness, offering fans an even more thrilling spectacle.

Conclusion: Formula 1 Back in the Spotlight

Thanks to the arrival of Liberty Media, the Netflix series “Drive to Survive,” and other adopted initiatives, Formula 1 has managed to regain its popularity and attract new fans. The cultural shift, cross-media marketing strategy, and focus on fans’ real needs have allowed Formula 1 to become attractive and exciting once again to fans’ eyes.