Chuck Foxtel the celebration shoey when you're done, Daniel Ricciardo!
Background: Foxtel is known for many things. AFL, the NRL... and of course, the three hours of back-to-back Simpsons. But now it wants to claim another title: home of the Formula 1.
What happened: Foxtel's extended its F1 rights agreement in a 3-year deal from 2023. It means Foxtel, and its sporty child Kayo, will have live broadcast rights to every race.
What else: This is top shelf stuff for Foxtel because as F1 grows in popularity, so too does Foxtel's viewership. And Formula 1 owes a lot of its current success to a 'lil something called the Netflix effect.
💡 The Netflix effect is when certain products or business surge in sales after being featured in a Netflix show. For example, after Queen's Gambit's success - everyone was playing chess.
💡We know that F1 has always been popular. But it's definitely had a niche audience... until Netflix produced Formula One: Drive to Survive.
💡Now, F1 has 49 million social media followers and 70 million viewers per race globally. And this popularity is helping Foxtel grow too, with its sports ratings growing by 31%.
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