Is it because the history of the sport? The technology involved? The car brands involved?
Tl;DR: What lead to formula one being considered the top motor sport in the world.
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A bit of everything: the prestige of Grand Prix, technology behind the cars, innovative solutions with application not only for automobile industry, but also airlines, medical, and energy industry.
biggest viewership:
>In the 2022 season, NASCAR averaged over three million viewers per race, the most they’ve had in four years. Meanwhile, the 2021 Formula 1 season saw an average of 70 million viewers per race.
biggest marcet cap:
>As of August 2023 Formula One Group has a market cap of $16.25 Billion.
biggest revenue:
> In 2022, Formula 1 brought in a total of $2.57 billion, driven by record attendance and expanded global viewership, according to an earnings report from F1’s owner, Liberty Media.
biggest driver salaries:
>F1 drivers are the highest-paid athletes in motorsports, taking home $11.4 million on average across all 20 drivers on the 2022 grid
Formula One remains at the pinnacle of motorsport for several reasons. Firstly, it boasts an esteemed history which has spanned over a staggering 70 years with some of the most magnificent drivers, unforgettable races, and iconic teams. The technology driving the sport is nothing less than avant-garde with Formula One cars ranking as some of the quickest and technologically sophisticated in the world. What’s more, the involvement of luxury car brands like McLaren, Ferrari, and Mercedes enhances the allure of the sport making it a global phenomenon. As such, the high level of skill, accuracy, and fitness compulsory to compete in Formula One renders it as the crème de la crème of motorsports.
I mean a hefty portion of it is just marketing. But as others have pointed out there’s a lot of money in it too.
Imo, what makes it great is the engineering. F1 is mostly an engineering effort. And second a Motorsport. And as far as engineering is concerned there are few other sports that do cutting edge RnD and engineering like F1 does.
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