As Monaco Grand Prix Revs Up, Formula One CEO Stefano Domenicali Talks U.S. Expansion And TV Future
29.05.2022 - 00:57
/ deadline.com
Formula 1 is back on familiar turf this weekend at the Monaco Grand Prix, a glamour-wrapped race that has been a fixture since 1929.
While many of the track contours and Côte d’Azur vistas are little changed, the auto racing circuit itself has a decidedly revamped look. Earlier this month, it made a splashy debut in Miami, the latest stop in its U.S. expansion, which will take it to Las Vegas next year. That bow followed the arrival of the latest season of Netflix docu hit Drive to Survive, with the show adding pop-culture luster to negotiations for a potentially lucrative new U.S. media deal.
“The American market is ready for F1,” Formula One Group CEO Stefano Domenicali told Deadline in an interview ahead of today’s race. “Being ready means that we need to keep working on the fact that we need to stay connected with our fans in the U.S. We need to speak the same language, we need to give context.”
The Miami event provided the latest template, as celebrity attendees like Tom Brady, Matt Damon, Serena Williams and Bad Bunny mingled with corporate dealmakers, brand sponsors and a cross-section of others around the city over the weekend. On Sunday’s race day, 2.6 million viewers tuned in on ABC, making Miami the most-viewed F1 race ever in the U.S.
The Italian-born Domenicali succeeded former longtime Rupert Murdoch lieutenant Chase Carey as CEO of Formula One in 2020. He had previously led sports car maker Lamborghini and served a lengthy exec stint at Ferrari. Formula One Group is part of the portfolio of billionaire media investor John Malone’s Liberty Media. It is the parent of the Formula 1 circuit, which is a wholly owned subsidiary, and has minority interests in various other holdings.
Formula 1 dates to 1950 and its