Greg Maffei, the President and Chief Executive Officer of Liberty Media Corporation based in the USA, announced on the 21st of October 2023 that the company has acquired MotoGP. This acquisition marks a new era for motorcycle racing as Liberty Media aims to enhance the growth of MotoGP 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 potential for MotoGP to grow, particularly in untapped markets. The presentation also outlined a six-pronged plan aimed at accelerating the growth of MotoGP. This plan includes leveraging Liberty Media’s expertise in managing global sports assets, expanding into key growth markets such as the United States, enhancing marketing efforts to tell compelling stories, and increasing the sport’s reach and appeal to foster competition and establish strong commercial partnerships. Additionally, Liberty Media plans to expose MotoGP to a wider fanbase and enhance the overall fan experience.
Liberty Media’s successful model in Formula 1 serves as a testament to their 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 their blueprint and achieve similar success with their new acquisition in the world of two-wheeled racing.
Greg Maffei, the CEO and President of Liberty Media, expressed his enthusiasm for expanding MotoGP’s global audience in the press announcement. He acknowledged the excellent work done by Carmelo Ezpeleta and his management team in creating a remarkable sporting spectacle and emphasized Liberty Media’s commitment to growing the sport for the benefit of MotoGP fans, teams, commercial partners, and shareholders. Carmelo Ezpeleta, the CEO of Dorna, also expressed his excitement about partnering with Liberty Media, stating that they could not have asked for a better company to expand MotoGP’s fanbase worldwide.
In their presentation, Liberty Media acknowledged MotoGP’s existing fanbase and presented insights from a 2022 Global MotoGP Fan Survey. This survey revealed that MotoGP has a highly engaged and loyal fanbase, with 92% of fans identifying themselves as avid followers. Furthermore, 82% of these fans have been following the sport for six or more years and watch over 75% of all the races. The survey also highlighted a difference in fan behavior between heritage fans, who support multiple teams and riders, and younger fans under the age of 24, 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 their comprehensive plan and expertise in growing global sports assets, Liberty Media aims to accelerate the growth of MotoGP and expand its fanbase around the world.