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The Joe Pomp Show
#229 Formula 1’s $500 Million Las Vegas Grand Prix Isn’t Leaving The Calendar Anytime Soon
Nov 15, 2023
Exploring the challenges of the Formula One Las Vegas Grand Prix, including traffic congestion and low ticket sales. Delving into the financial motivations behind the event's persistence despite drawbacks. Discovering strategies for international growth and monetization in Formula One.
14:40
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Quick takeaways
- Formula One is investing over $500 million in the inaugural Las Vegas Grand Prix, showcasing immense economic potential for the city.
- Liberty Media's strategic initiatives, including relaxing social media rules and F1 TV streaming, have significantly expanded Formula One's reach and attracted a younger audience.
Deep dives
Challenges and Controversies Surrounding the Las Vegas Grand Prix
The Formula One Las Vegas Grand Prix faces challenges and controversies leading up to the event, with issues ranging from intense roadwork causing long commutes for residents and tourists to a significant drop in hotel prices and unsold race tickets. Construction workers working 90-hour weeks, colder temperatures affecting the race, and inconvenient race timings for US viewers further contribute to the buildup difficulties.
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