Electric Cars

The Autosport Business Exchange's focus, dubbed 'The Rise of Racing in America', brought together key figures to dissect the underlying factors contributing to this nationwide motorsport boom. A consensus quickly formed among the panelists: securing the right broadcasting platform is paramount for any racing series aiming to captivate an American audience.

IndyCar’s strategic alliance with Fox proved particularly successful. IndyCar President and CEO Mark Miles reported a remarkable increase in viewership, with an average of 1.3 million viewers across 17 races, representing over a 20 percent year-over-year rise. This surge is largely credited to the new deal with Fox, which also acquired a significant stake in IndyCar. Miles highlighted that the consistent live broadcast of every race on a single network channel made it easier for fans to tune in. Crucially, the partnership successfully attracted a younger demographic, nearly doubling the 18-34 age group's engagement, disproving any skepticism about traditional network television's appeal to younger audiences. Miles praised Fox's commitment, not only to broadcasting but also to the quality of their production and promotional efforts, including a high-profile Super Bowl campaign that generated early interest.

NASCAR, an early adopter of streaming services, also demonstrated the power of diversifying broadcast channels. Tim Clark, NASCAR's executive vice president and chief brand officer, noted that a partnership with Amazon Prime Video to stream five NASCAR Cup races annually significantly lowered the average age of their viewership by six years. This rapid demographic shift would typically take a decade or more to achieve through conventional methods. Clark acknowledged the abundance of narratives within motorsport, from multiple drivers and data points to onboard audio and video. He emphasized that the challenge lies in effectively surfacing these stories to the right audience at the opportune moment, a task greatly aided by media partners.

MotoGP, recently acquired by Liberty Media (which also owns F1), faces similar considerations regarding its growth strategy. While a direct replication of F1's Netflix sensation 'Drive to Survive' might not be feasible, MotoGP's Chief Commercial Officer, Dan Rossomondo, stressed the importance of leveraging their sport's inherently passionate, young, and diverse global fanbase. He explained that while the allure of a 'Ride to Survive' series is strong, its success is not guaranteed and the unique nature of MotoGP's business requires a distinct approach to market the sport and expand its reach.

Ultimately, the discussion at the Autosport Business Exchange underscored a transformative period for motorsport in the US. The insights shared by the leaders of MotoGP, NASCAR, and IndyCar illuminated the critical strategic importance of broadcast partnerships in expanding audience engagement, particularly among younger demographics. While Formula 1’s success serves as an aspirational benchmark, each series is navigating its own path, leveraging both traditional television and innovative streaming platforms to tell compelling stories and cultivate a new generation of racing enthusiasts.