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 credited F1's Netflix streaming show as driving the sport's U.S. presence: "Without 'Drive to Survive' … I don't think we would all be here right now."

What's next: APEX has broadened its investments beyond motorsports to include golf and dance, Caçorino said. The firm has many athletes who are active investors.

• "They bring us a capacity to understand the industry and see it through their lens … because they understand trends, they know what fans want and they've been part of the industry for so long," Caçorino said.

One fun thing: Austin Mayor Kirk Watson gave introductory remarks at the event, crediting F1 with helping to boost the Texas capital's global appeal.

• "We're a big international city, and it's in no small part because of F1 and the role that it plays," he said.

Content from the sponsor's segment:

In a View From the Top conversation, Pierre Gasly, an F1 driver for BWT Alpine Formula One™ Team, spoke about the sport's growing U.S. fan base.

• "It's an amazing time to be part of our sport. As a driver, as a team, as a brand, there is a real momentum," Gasly said.

Marissa Dacay, Adobe global vice president for enterprise marketing, said bringing fans into sports culture is driving demand for unique engagement experiences.

• "Fans are not just spectators, they're participants, they're creators, they're part of the story," Dacay said.

Go deeper: Watch the full event.