Breaking the mould, breaking the boundaries of motorsport and reaching all sorts of audiences. This is Liberty Media’s goal for Formula 1. Stefano Domenicali, Chairman and CEO of Formula One Group, recently explained the next steps that will lead the Circus to become a true global entertainment platform, putting itself on the same level as giants like Netflix, Amazon and Disney+. Netflix itself has relaunched Formula 1 by bringing a new audience. But Domenicali's idea is to even compete with the platform itself.
Stefano Domenicali is projecting Formula 1 towards a new era, where the sport becomes part of a global entertainment ecosystem. With an ambitious vision that goes beyond the confines of motorsport, Domenicali is determined to make F1 a platform loved not only by fans of the four wheels, but by a much wider audience. However, despite the emphasis on entertainment, the Italian does not forget the heart of Formula 1: the competition on the track, which will continue to be the focal point of this ever-evolving sport.
Domenicali's vision for the future of F1
Under Liberty Media, Formula 1 has undergone a radical transformation. Its audience has grown, not only among long-time motorsport fans, but also among those who had never followed the world of racing before. Domenicali has been vocal about this expansion, stressing the need to think big to maintain F1's primacy in the global entertainment landscape.
“We no longer have to just compete with other motorsports. We have to think of ourselves as part of a much broader market of film and entertainment events,” said Stefano Domenicali, adding: “Our audience watches films, follows events, and we must be considered one of them.” These words confirm Liberty Media's intention to project Formula 1 beyond the boundaries of traditional motorsport.
Targeting new fans
One of Domenicali’s key goals is to further expand the Formula 1 audience, engaging not only super fans, but also those who are unfamiliar with the sport. “We need to speak to everyone, not just our most loyal fans, but also to those who have no idea what F1 is,” said the CEO. To achieve this goal, Formula 1 is investing in new communication platforms, adapting to technological changes and new ways of consuming content.
Domenicali’s approach reflects the evolution of the entertainment market, where competition is no longer just between sports, but between different types of content. This includes streaming platforms, live events and shows that attract a global audience. “We need to communicate with people not only through storytelling, but also with the new communication tools that are changing rapidly,” he said, underlining the importance of an increasingly technological approach oriented towards new generations.
Entertainment should not overshadow competition
Despite the expansion towards a more entertainment-oriented model, Domenicali does not lose sight of the essence of Formula 1: competition on the track. “In 10 years, Formula 1 will still be an extraordinary entertainment platform, but also a great technological challenge,” he said. Domenicali believes it is essential to maintain the centrality of racing and the action on the track, elements that have made Formula 1 one of the most followed sports in the world.
“Sport will always be at the centre, we must ensure that the show on the track remains the beating heart of Formula 1,” he said, reiterating that the focus will not only be on marketing and communication, but also on the actual competition. Domenicali also insisted on the importance of transmitting a message of respect and inclusiveness, elements that must characterize not only the drivers, but also the public that follows the sport.
The Global Expansion of F1
A concrete example of this global expansion is the success of Formula 1 in the United States. Domenicali recalled how until a few years ago F1 struggled to organize a race in the USA, while this year for the second consecutive season three Grand Prix will be held on American soil. “Just a few years ago it was difficult to organize a race in the United States, now we have three and the interest has grown enormously,” he said enthusiastically.
This exponential growth is no coincidence. Liberty Media has invested heavily to bring Formula 1 to a wider audience, and the United States represents a strategic market in this expansion. Domenicali explained that F1 will continue to explore new opportunities to enter untapped markets, with the aim of becoming a sport followed all over the world.
An inclusive and respectful platform
In addition to expanding the audience, Domenicali wants Formula 1 to become an inclusive and respectful platform. “I want to make sure that F1 is a very inclusive and loved platform around the world,” he has declared. “We want people to have fun watching the races, but also to feel part of a respectful community, where respect is at the center of everything.”
For Domenicali, Formula 1 must be an example not only of sporting competition, but also of ethical behavior and mutual respect. This message is central to his vision of the future, which sees Formula 1 not only as entertainment, but also as a school of positive values for the world.
Conclusions
Source statements: FormulaPassion
