Greg Maffei, the President and CEO of Liberty Media Corporation, based in the USA, announced on October 21, 2023 that the company has acquired MotoGP. This acquisition marks a new era for motorcycle racing, as Liberty Media aims to enhance MotoGP’s growth through a comprehensive six-part strategy.
During the announcement, Liberty Media and Dorna emphasized their commitment to the growth and expansion of MotoGP. A presentation released by Liberty Media highlighted the immense growth potential of MotoGP, especially in untapped markets. The presentation also outlined a six-point plan aimed at accelerating MotoGP’s growth. This plan includes leveraging Liberty Media’s experience in managing global sports assets, expanding into key growth markets such as the United States, enhancing marketing efforts to tell engaging stories, and increasing the sport’s reach and appeal to promote competition and establish strong commercial partnerships. Additionally, Liberty Media plans to expose MotoGP to a broader fan base and enhance the overall fan experience.
Liberty Media’s successful model in Formula 1 serves as a testament to its ability to transform a sport through digital media, commercialization, and expansion into new markets and fan bases. While MotoGP has made some progress in these areas, the responsibility now lies with Liberty Media to apply its model and achieve similar success with its new acquisition in the world of two-wheel racing.
Greg Maffei, the CEO and President of Liberty Media, expressed enthusiasm in expanding the global audience of MotoGP in the press release. He acknowledged the excellent work done by Carmelo Ezpeleta and his management team in creating a remarkable sports spectacle and emphasized Liberty Media’s commitment to expanding the sport for the benefit of MotoGP fans, teams, commercial partners, and shareholders. Carmelo Ezpeleta, CEO of Dorna, also expressed excitement in partnering with Liberty Media, stating that they could not have asked for a better company to expand the MotoGP fan base worldwide.
In their presentation, Liberty Media acknowledged the existing MotoGP fan base and presented insights from a 2022 Global MotoGP Fan Survey. This survey revealed that MotoGP has a highly engaged and loyal fan base, with 92% of fans identifying as avid followers. Additionally, 82% of these fans have been following the sport for six years or more and watch more than 75% of all races. The survey also highlighted differences in fan behavior between traditional fans, who support multiple teams and riders, and younger fans under 24 years old, who are more likely to follow a specific rider.
Overall, Liberty Media’s acquisition of MotoGP marks an exciting new chapter for two-wheeled racing. With its comprehensive plan and experience in expanding global sports assets, Liberty Media aims to accelerate the growth of MotoGP and expand its fan base worldwide.
© 2024
The world of sports is full of excitement and surprises, and 2024 will be no different. With the new year comes new expectations and challenges for athletes around the world. Let’s take a look at some of the most exciting stories to come.
In soccer, the World Cup will be the most anticipated event of the year. The best teams in the world will face each other in an epic battle for the title. Fans are eager to see their favorite players in action and cheer for their national teams. It will be a tournament full of rivalry and excitement.
In basketball, the NBA will continue to be the center of attention. Fans are excited to see if the current champions will be able to retain their title or if there will be a new dominant team. The games promise to be thrilling and full of skill and talent.
In tennis, the Grand Slam tournaments will be the highlight. The best players in the world will compete for the prestigious title in each of the four tournaments. Fans are eager to see if the favorites will continue to dominate or if there will be surprises on the courts.
In motorsport, Formula 1 will be the center of attention. The fastest drivers in the world will compete on exciting tracks in pursuit of the world title. Fans are eager to see if their favorite drivers will overcome the challenges and achieve glory in the races.
In boxing, there will be several exciting fights for fans to follow. The best boxers in the world will step into the ring to showcase their skills and compete for the world title. It will be a year full of action and drama in the world of boxing.
Additionally, there will be many other exciting sports events in different disciplines around the world. Fans are eager to see their favorite sports in action and cheer for their favorite athletes. It will be a year full of excitement and surprises in the world of sports.
So, get ready for an amazing year of sports and be prepared to cheer for your favorite teams and athletes. 2024 will be a year full of excitement and unforgettable moments. Stay tuned for all the news and updates about the world of sports. Don’t miss any action!
