From Track to Wallet: The real pit crew of Formula One

Over the past 4 years, every May, thousands of spectators of various demographics travel to Miami, FL, to experience one feeling—thrill. The Miami Grand Prix hosts some of Formula 1’s most decorated drivers and has yet to upset its passionate audience. To put it in perspective, marketing campaigns are built year in and year out with expectations of generating well over a quarter billion for an event that only lasts for 3 days (Block). Advertisements for the next year are pushed mid-event, and on the final day, committed fans gain access to purchasing packages for the succeeding year. Crazy, right? Being a member of the marketing department responsible for steering our audience toward purchasing tickets, collaboration with our sales team is pivotal to our performance. The sales team conducts the research and distributes it amongst the marketing team; it is then our job to get creative in our brainstorming to implement campaigns that generate income. Here’s an example.

Let’s say in 2023, the Miami Grand Prix produced:

• 212,000 attendees

• $250 million in ticket sales

  
  

The following year (2024), let’s say the event produced:

• 218,000 attendees

• $263 million in ticket sales

  
  

The sales team would conduct studies to discover what occurred between the years so we can execute in 2025. Perhaps the sales department reviewed the sales funnel of the 2023 event compared to the 2024 event and noticed an increase in CTR on Instagram Ads. We could then use that data to prioritize Instagram Ads for the marketing of 2025’s event. This kind of collaboration is what creates the momentum behind each viewer ultimately making the purchase.

Block, Tracy. “Laps, Luxury, and Logistics: Inside the 2025 Formula 1 Crypto.com Miami Grand Prix.” BizBash, 15 May 2025,

https://www.bizbash.com/sporting-events/laps-luxury-and-logistics-inside-the-2025-formula-1-crypto-com-miami-grand-prix?utm