NASCAR's $55 Million Content Push: Aiming for F1-Like Success

NASCAR has invested $55 million in original content, including Netflix's 'Full Speed,' to capture the storytelling success seen in Formula 1's 'Drive to Survive.' While 'Full Speed' has seen positive fan reception and strong viewership, it hasn't yet mirrored F1's monumental global impact, though NASCAR executives remain committed to telling emotionally engaging stories.

Why it matters:

Formula 1's 'Drive to Survive' transformed its global appeal, particularly in the U.S., by offering a behind-the-scenes look at the sport's drama and personalities. NASCAR's substantial investment signifies a clear strategy to replicate this success, aiming to attract new fans and deepen emotional connections with its existing audience through compelling narratives that extend beyond the race track.

The Details:

• Significant Investment: NASCAR has invested significantly in original content over the past six years, opening a new $55 million production facility in Concord, North Carolina, designed for both live production and original content development.
• Key Hires: John Dahl, a co-creator of ESPN's acclaimed '30 for 30' series, was hired to spearhead original content development.
• Recent Successes: NASCAR's original content initiatives are having their most successful year, including:
  • Season 2 of 'NASCAR: Full Speed' on Netflix.
  • 'American Thunder,' a NASCAR to Le Mans documentary on Amazon.
  • An Earnhardt documentary on Amazon, which was one of the platform's top-performing sports documentaries.
• Strategic Focus: Executive Vice President and Chief Brand Officer Tim Clark emphasizes the importance of 'helmet-off' content to build emotional investment, showcasing the athletes' lives and personalities beyond race days.
• 'Full Speed' Reception: While 'NASCAR: Full Speed' received positive fan feedback, focusing on real playoff drama and hitting top-five viewership in the U.S. and Canada, and top-ten in the UK, it struggled to onboard new fans as effectively as 'Drive to Survive' due to less basic explanations and shorter seasons.

The Big Picture:

Formula 1's acquisition by Liberty Media in 2017 led to a brand overhaul, utilizing social media and 'Drive to Survive' to open the paddock to a younger, broader audience. This strategy resulted in inflated viewership and revenue. NASCAR is attempting to adapt this model, understanding that compelling storytelling is crucial for growth in a competitive sports entertainment landscape. The goal is to make the on-track action more compelling by connecting fans emotionally to the individuals competing.

What's next:

NASCAR's commitment to original content remains strong, with leadership believing that engaging stories are key to evolving the product. Despite 'NASCAR: Full Speed' being several seasons behind 'Drive to Survive,' the continued investment and focus on high-quality storytelling suggest a long-term strategy to cultivate a deeper fan base and introduce the sport to new global audiences. The challenge will be to find a narrative approach that both satisfies existing fans and effectively lowers the barrier to entry for newcomers.