Formula 1: A Cultural Phenomenon Under Liberty Media’s Leadership
Monaco – Derek Chang, newly appointed CEO of Liberty Media, asserts that Formula 1 has evolved into a “cultural phenomenon” over the last decade. Under Chang’s direction, alongside his predecessors Chase Carey and Stefano Domenicali, F1 has transcended traditional motorsport, reaching broader audiences and enhancing fan engagement.
Recent findings from the yet-to-be-released 2025 Global F1 Fan Survey reveal increasing participation from women and younger demographics in the sport, illustrating its expanding appeal. Chang highlights the surge of interest in markets such as the U.S., bolstered by new races in Miami and Las Vegas. He stated, “What we’ve done over the last 10 years… is really make this thing… well beyond a core sports product.”
The success of Netflix’s Drive to Survive and an upcoming Apple documentary are pivotal in attracting a diverse viewership, emphasizing the importance of compelling storytelling both on and off the track. Chang noted, “It starts with what happens on the track… but we’ve opened the aperture of what Formula 1 is all about.”
Recent partnerships reflect F1’s shift towards consumer-driven brands, moving from B2B sponsorships. A significant collaboration with Disney and an innovative partnership with Lego, showcased in Miami, further exemplify this approach. “We’ve gone from an endemic, advertising-based ecosystem to engaging casual fans and kids,” Chang explained.
However, the Chinese market remains an area for growth. With a history spanning 20 years in Shanghai, Chang expressed optimism about expanding F1’s presence. “There is a legacy and history of F1 in China… People love sports there,” he remarked, emphasizing ongoing investments in digital platforms and local media outlets to capitalize on this potential.
Chang’s vision highlights F1’s unique positioning as a high-end brand intertwined with luxury partnerships, suggesting sustained growth potential in China’s vast consumer market.
Conclusion
With strategies tailored for broader engagement and a keen focus on emerging markets, Liberty Media is poised to further elevate Formula 1 as a leading global sports brand.
