By: Ben Klein
Formula 1 is soaring in the United States and has now been crowned the fastest-growing sports league on social media and its CEO, Stefano Domenicali, has no plan to stop there but only to carry on this momentum.
Within the next five years, Formula 1 has its sights on developing arcades in more than 20 venues, with the first location slated to open in Boston starting in early 2024. Following the success of their London location, these arcades will offer high-quality racing simulators, food, and drinks, and aim to attract a younger audience while retaining their existing fan base.
According to the Athletic, “There was a 43 percent increase in viewers aged 18-34, pointing to the youthful slant of F1 fans.” By Introducing these arcades, the sports aim to further engage and captivate a new generation of viewers driving the percentage of young viewers even higher.
The President and CEO of Formula 1, Stefano Domenicali, has emphasized the significance of how these arcades will also help attract new audiences. He said, “Formula 1 is enjoying significant growth globally, and we are constantly innovating to ensure that we are bringing the highest quality of sport and entertainment to new and diverse audiences”.
Formula 1’s breakthrough in the United States was no coincidence. One of the ways that F1 burst on the scene was when Liberty Media decided to take a new approach to rebuild this Sport. They decided to set up a partnership with Netflix launching F1: Drive to Success, which helped younger audiences gain a feel of a behind-the-scenes atmosphere fueling their curiosity about the sport.
Expanding into new markets has also been a pivotal factor in their recent success. The introduction of races in locations like Miami, and the forthcoming project in Las Vegas has proven to be a success, with these events attracting an average of almost 1.2 million viewers per race in the US. These numbers indicate a positive trajectory for the future.
Formula 1's sudden burst onto the scene was no coincidence in the United States and doesn’t seem to be slowing down anytime soon. With their plans for arcades, new races, and a commitment to innovation, F1 has shown it will be a Sport to be reckoned with.