The beginning of the formula one series began with the European Championship of Grand Prix motor racing back in the 1920’s-30’s’. The modern Formula one started in 1950, becoming the highest class of single-seater auto racing. It is the most popular motorsport in the world with an impressive reported audience of 1.8 billion viewers. The race left the United States in 2007 and came back in 2012 when a track in Austin-Bergstrom International Airport was initially made for them but since then expanded to host more events.
Formula One Moves to South Florida
Austin Texas Venue has been having challenges making finances work and the contract with F1 expires 2021. A deal has been made for Miami to host the 2021 Formula One Grand Prix at the Hard Rock Stadium. It was first planned to be downtown Miami but the plan failed after businesses and residents objected. Plans were then switched to take place at the Home of The Miami Dolphins which is owned by the American billionaire Stephen Ross.
Costs and Benefits
The Miami Herald reported on Tuesday, October 15th that Mr. Ross will fund construction of the estimated $40 million custom track and cover all race costs. Dolphins CEO Tom Garfinkel and Sean Bratches, Formula One’s managing director of commercial operations, said: “With an estimated annual impact of more than $400 million and 35,000 room nights, the Formula One Miami Grand Prix will be an economic juggernaut for South Florida each and every year.”
According to a study from AngelouEconomics, this event creates roughly 5,000 to 7,000 temporary jobs during race weekend. For the 2017 Grand Prix in Texas, it was estimated that out-of-state fans spent $351 million which is a little more than the economic impact of a Super Bowl!
We know how important it is to keep the fans and city visitors entrained and engaged while waiting for the event to start or even during. Linking events does it all from interactive experiences like photo booths, giveaways of promotional items, and even have a display car where people can take a closer look and ask questions to our on-site brand specialists.
Activations Touchpoint Ideas:
– Challenges/ games
– Display Car
– Device Demonstrations
– Customization Station ex: Unique Poster
– Charging Stations
– Festival Branding Ex: Banners
– VIP Hospitality experience Area set-up
– Hotel / Suite Branding
– Foursquare check-ins