Axios Live: What F1's growing global fan base means for sponsors and investors

AUSTIN, Texas — Formula One's global reach continues to expand beyond traditional racing fans, sparking partnership opportunities for sponsors and investors, sports media and venture capital leaders said at an Axios Live and The Race Media event.Why it matters: F1's fan-focused marketing partnerships and media ventures have sustained the sport's broad popularity, creating a model for others to emulate.Axios' Sara Fischer and The Race Media's Darren Cox spoke to APEX founder and CEO António Caçorino and Liberty Media Corporation president and CEO Derek Chang. BWT Alpine Formula One™ Team sponsored the Oct. 22 event.What they're saying: Chang said he's confident about the success of F1's five-year media rights deal with Apple. "We anticipated having a great partner. They've performed exactly the way we thought, and frankly, even better."Chang pointed to Lego's F1 cars as a way to reach audience members who might not be traditional racing fans. He added that social media content and marketing partnerships keep F1 fans engaged beyond race day."60% of our fans, and we have hundreds of millions of fans out there, 60% of those fans engage with F1 on a daily basis," Chang said.Caçorino cr…

≈