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Miami Market Insights Ahead of F1 Grand Prix

May 2, 2024

As Formula 1 fans worldwide gear up for this weekend’s 3rd edition of the F1 Miami Grand Prix at the Miami International Autodrome, sponsors are revving their engines in the run-up to hotly anticipated race. Let’s take a closer look at the Miami-Fort Lauderdale market and which brands within have partnered with the F1 Miami Grand Prix in the past.

More than 50 brands partnered with last year’s F1 Miami Grand Prix, 20% of which are regional––including AutoNation, Jackson Health System, Enhance Health, Organika Vodka, and City Furniture. The race’s diverse and rapidly expanding global audience––1.96M viewers last year, making it the second-most watched F1 race in US history––and ever-increasing cachet offer these Florida-based companies an arguably unparalleled platform, elevating them to the world stage while fueling local support and recognition in the process. 

The Miami media market, which ranks among the top 20 in the US with a population of just under 5M, is a sought-after target for savvy brands from across the world. Baptist Health South Florida leads Miami’s list of active brands with 17 sponsorships, leveraging its home turf to optimal effect through partnerships with properties like the Miami Open, Capital One Orange Bowl, and Homestead Miami Speedway. Adidas follows with 15 sponsorship deals, including link-ups with Inter Miami CF, the Florida Panthers, and the Miami Hurricanes. Third on the list is Miami Dade County––Florida’s most populous county––with 11 sponsorships, the Miami Dolphins, Miami Heat, and Miami Marlins among them.

Social media engagement in the Miami market totals more than 43M across over 14K posts. A co-branded post by Inter Miami FC and health solutions company Florida Blue, featuring superstar Lionel Messi, generated the most engagement in the market in the past year, garnering north of 1.2M interactions. The much-documented "Messi Effect" is virtually impossible to overestimate: the market’s top 10 most engaging posts over the same period all belong to Inter Miami––demonstrating his colossal impact on the team’s standing within the global soccer arena, and cementing Miami’s status as a world-class professional sports capital.

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