To develop a host growth strategy for Formula 1. Hosting rights fees contribute over 40% of Formula 1’s annual revenues. Formula 1’s objective was to grow the calendar into new markets and territories, whilst also ensuring the calendar retained the necessary global reach balance and motorsport heritage through renewing long term partners.
TSC used a structured process to capture the function-by-function requirements and objectives of new and existing hosts. We designed a commercial and technical feasibility assessment process, created a repeatable host procurement / renewal cadence, and developed data led value proposition materials that demonstrated the value of Formula 1.
The new host engagement process and materials have now been adopted are being used to roll-out a programme of renewal and new host city engagement.