Could Netflix Help Shares Of Formula One?

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One of the most popular sports in the world is Formula One, but the racing league does not attract the same viewership numbers in the U.S. as it does in other markets. That could be changing thanks to a docuseries on Netflix.

Netflix Series

Netflix Inc (NFLXlaunched a documentaries series called “Formula One: Drive to Survive” in 2019 highlighting the popular world racing sports league, owned by Liberty Formula One Group (FWONA) (FWONK) .

“Netflix’s ‘Formula One: Drive to Survive’ has used a unique combination of behind-the-scenes access and passionate storytelling to increase fan engagement,” Huddle Up Founder Joe Pompliano told Benzinga.

Formula One stock is the largest current holding in the newly launched  Roundhill MVP ETF (MVP)  representing 9.5% of assets.

“Just like a successful F1 team, Netflix has nailed the release timing of their 'Drive to Survive' docuseries,” Roundhill’s Vice President Sean Poyntz told Benzinga.

Poyntz said the release right before the start of the next season will serve as an “appetizer” for viewers.

Increased Engagement

Netflix has over 200 million global subscribers. The company’s large base of U.S. subscribers may have had their first experience with Formula One through the docuseries.

“To the unconverted F1 fan, the series helps to tell each team’s story, making it more than just cars going around a track,” Poyntz said.

Poyntz said the increased engagement could lead to more appeal to sponsors from some of the smaller teams.

“Engagement across social media platforms is up 99% year-over-year. The season opener in Bahrain was the most-viewed U.S. race ever, and perhaps most importantly, over 75% of F1’s audience growth in 2020 came from the coveted 16-35 age demographic,” Pompliano said.

Viewership for the Bahrain Grand Prix first race of 2021 saw record viewership in the U.S. on ESPN2, owned by the Walt Disney Company (DIS). Over 879,000 fans tuned in, marking the best audience for a Formula One race in the U.S. since 2019 and the highest on ESPN2 ever.

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Disclaimer: © 2021 Benzinga does not provide investment advice. All rights reserved.

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