The Joe Pomp Show
#241 What NASCAR’s New $7.7 Billion Media Rights Deal Means For Its Future
Dec 14, 2023
Exploring NASCAR's new $7.7 billion media rights deal, comparing it with F1, discussing sponsorship revenue, long-term growth projections, and challenges faced by the industry. Also, delving into the impact on fan access, evolving driver popularity, and NASCAR's innovations for future success in the sports entertainment landscape.
09:46
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Quick takeaways
- NASCAR secured $7.7 billion media rights deal, surpassing F1 in viewership and sponsorship revenue.
- NASCAR faces challenges like declining viewership due to subscription fatigue and lack of superstar drivers.
Deep dives
The Rise of Formula One in the United States
Formula One has experienced significant growth in the United States, marked by the success of the F1 Drive to Survive series on Netflix and the addition of a second Grand Prix in Miami. ESPN secured media rights for $75 million annually, showcasing the increasing popularity of the sport. An investment of over $500 million from Liberty Media for the Las Vegas Grand Prix further solidifies the sport's expansion in the country.
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