365 Days of Formula 1

Money follows eyeballs, and Formula 1's eyeballs are increasingly American. Many of the conversations I've had in the Paddock this week in Vegas have been less about racing, more about experience and commercial opportunity.

And yesterday morning, Formula 1 Las Vegas Grand Prix announced their latest concept to grow F1 stateside.

After their $500 million investment in Las Vegas last year, F1 is doubling down with Grand Prix Plaza - it's like Disney World meets Monaco, minus the yacht parties.

While races happen 24 weekends a year, merchandise and experiences can sell 365 days. Grand Prix Plaza is less about racing and more about turning casual viewers into engaged, year-round customers.

Here's what they're building:

1. F1 Drive: A 1,650-foot go-kart track with 31 turns. For context, that's about 5 football fields of racing surface. They're adding artificial engine sounds to electric karts - a small detail that reveals how much F1 understands its core appeal. In my opinion, the sound of F1 engines ranks among the most recognizable audio signatures in sports

2. F1 X: A three-part exhibit that's basically a conversion funnel disguised as an attraction:

   1. Learn (education)

   2. Create (engagement)

   3. Experience (entertainment)

3. F1 Hub: The money-making engine, featuring:

   1. Retail space (merchandise has 60-70% margins in sports)

   2. Racing simulators

   3. Private event spaces (corporate events typically generate 3-4x the revenue per square foot compared to regular retail)

CCO Emily Prazer frames this as responding to F1's demographic expansion. The data backs her up - F1's US fanbase grew 40% since 2020, with particularly strong growth among 16-34 year olds.

The spring 2025 opening isn't random either. It aligns perfectly with F1's testing season, when fan interest spikes but there's no racing action to monetize.

This is classic category creation - F1 isn't just selling racing anymore. They're selling an experience, much like how Starbucks convinced people to pay $5 for coffee by selling a "third place" between home and work.