Examining the Strategies and Importance of Formula 1 to enter the US Market

Formula 1 (F1), the pinnacle of motorsport, has a rich history dating back to 1950. As a global spectacle, F1 attracts millions of fans worldwide, with races held in iconic locations around the globe. However, the sport faced challenges in the early 2010s, including declining viewership and a perceived lack of accessibility. To revitalize F1, Liberty Media acquired the sport in 2017. A major media conglomerate with a history of successful acquisitions, Liberty Media sought to leverage its expertise in content creation and distribution to transform F1 into a more engaging and accessible global brand. With a focus on enhancing fan experience and expanding the sport's reach, Liberty Media embarked on a comprehensive marketing strategy to reposition F1 for the modern era. One of the key areas where Liberty Media sought to make a significant impact was in digital media. Recognizing the growing importance of online platforms, Liberty Media invested heavily in creating engaging content for F1's digital channels.The goal of my research is to analyze the different techniques they used, as well as what the sport needs to do to expand into the US market. I will compare the previous strategies, as well as their comparison to already established US motrosport. There is an inherent value for European established sports to enter the US market.