Formula 1 Crypto.com Miami Grand Prix, 2022 - Post Event Analysis

Formula 1 Crypto.com Miami Grand Prix, 2022 - Post Event Analysis

Summary

An analysis of the recent 2022 Miami Grand Prix, including a look at its sponsorship portfolio, broadcasters, attendance, ticketing This report provides an overview of the event including sponsorship portfolio, broadcasters, attendance, ticketing breakdown.

Around 420,000 spectators, which is higher than most European races attended the event over the three-day period. The popularity of F1, in America has increased since the start of the Netflix’s Drive to Survive series. Sunday’s race day was the largest U.S. audience ever for a live F1 telecast. ABC was able to achieve viewing figures that demonstrated the growth of the sport especially in the adult age group in the U.S. Sponsors for the event included highly recognised brands with already high sponsorship portfolios such as Red Bull, J.P. Morgan and Heineken. The biggest sponsorship deal for the event went to the title partner of the Grand Prix, Crypto.com, the world’s fastest growing cryptocurrency platform, which has a nine-year deal with the Miami Grand Prix.

Key Highlights

• Broadcast figures showed very strong figures, which included historic U.S. viewership figures as ABC reported an average of 2.6 million viewers for Sunday’s race day which meant the Grand Prix was the largest U.S. audience ever for a live F1 telecast. Regarding sponsorship, the Miami Grand Prix had a total of 28 sponsors. Crypto.com was the title sponsor of the event and has in place a nine-year deal estimated by GlobalData to be worth $180 million. Over the race weekend 240,000 spectators ascended to The Miami International Autodrome. Hospitality packages for all-inclusive three-day packages sold out very quickly with prices being set between $5,000-10,000.
• Investors who are attempting to understand the current dynamics of the sponsorship landscape of the 2022 Miami Grand Prix. Viewership industry professionals who want a detailed analysis on the popularity of the tournament.

• This report provides an overview of the event including a sponsorship portfolio, broadcasters, attendance, ticketing breakdown. An analysis of the 2022 Miami Grand Prix sponsors is included and the estimated values for some of these deals. Information regarding ticketing and how ticket prices compare to other Grand Prix’s is provide as well as the very positive broadcast figures from North America.

• For those wanting an in-depth analysis of how the 2022 Miami Grand Prix performed, in the sense of both business and popularity. The report will also be interesting for those who are looking to learn more about the growing popularity of F1 in the USA.