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It’s no secret that Formula 1 is “having a moment,” as Sebastian Tomich, CCO of The Athletic, put it.
The 2022 season broke US viewership records, with an average of more than 1 million viewers per race across ESPN, ESPN2, and ABC, up 28% from the year prior. Netflix’s Drive to Survive documentary series, now in its fifth season, chronicles the sport and has contributed to its rise in the US.
“I’m shocked just by how many people I talked to that are building a habit around watching F1 every weekend,” Tomich told Marketing Brew. “Cul-de-sac dads who spent their Sundays watching the NFL are now watching F1 on Sundays.”
So perhaps it’s no surprise that The Athletic debuted a dedicated F1 vertical with a team of two reporters and an editor earlier this year. Tomich said there was a “business case” to be made for introducing the new coverage area, but said he was still “blown away” by early advertiser interest.
Michelob Ultra served as the official launch partner for the F1 vertical, according to Tomich, despite never having advertised with the New York Times, which acquired The Athletic last year.
The Athletic only recently introduced advertising, so Tomich’s team still had to sell the new vertical. With that said, the company was having serious partnership conversations within two weeks after announcing the vertical.
With a small team, the vertical can only produce so much coverage for advertisers to sponsor—at least for now. “For anyone who has ever sold media before, you rarely are in a position where there’s scarcity,” Tomich said. “You get that a lot in broadcast for hit shows, but it’s a unique feeling.”
As of late April, Chanel had laid claim to 50% of The Athletic’s US F1 inventory, according to Tomich, though that brand advertises across the outlet’s other verticals as well. The publication plans to announce an additional international F1 ad partner soon, he said.
Part of The Athletic’s appeal for advertisers is that it’s a “premium product” that people pay for, so the audience tends to be on the more affluent side, Tomich told us. “More affluent, global tournament sports,” like golf, tennis, and now F1, tend to draw a “slew” of advertiser interest, he said.
The Athletic doesn’t yet have dedicated golf or tennis verticals, but Tomich said he “wouldn’t be shocked” if they roll out eventually.
“We are the largest paid sports news business in the world, so the consumer for that is elevated,” Tomich said. “For luxury brands or any high-end consumer brand, any investment bank, anything that you would see targeting a more affluent consumer—we want to be the sports option for them.”