Liberty Media hail 'fantastic' year for F1 after Las Vegas debut

Formula 1 enjoyed yet more growth in 2023 after the introduction of the Las Vegas Grand Prix helped to generate significant interest.

The sport’s revenue streams enjoyed double-digit growth as they continue to expand at rapid pace worldwide.

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The likes of Drive to Survive have helped them to dramatically improve their reach in North America, a market that previously remained untapped.

There are now three grands prix in America across Texas, Florida and Nevada with most enjoying sell-out crowds and enjoying incredible demand.

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Liberty Media leading F1 in a good direction

Speaking about their continued success, Liberty Media CEO Greg Maffei hailed the sport’s progress over the last 12 months.

“Formula 1 had another fantastic year with double-digit growth across all revenue streams,” he said.

“The Las Vegas Grand Prix generated massive global buzz, and we look forward to delivering great racing, fan experiences and economic benefit to F1 and the local community for years to come."

F1 CEO Stefano Domenicali added that the US progress was particularly encouraging.

“F1 saw continued fan growth especially in the US market, strengthened by the successful Las Vegas Grand Prix, and across a younger and more female audience,” he said.

“Our sustainability initiatives remain a priority for F1 and our partners, and we look forward to running all seven F1 Academy races this season alongside the F1 calendar.”

Max Verstappen’s continued dominance could result in those numbers stalling somewhat, with fans turning away due to a lack of a title battle.

If Red Bull’s rivals can fight for victories at some stage this season, it may go a long way towards keeping the numbers driving in the right direction.

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