Moneygram is cashing in on the growing popularity of Formula One in the U.S. The financial technology company is currently running a contest offering the winner the opportunity to attend the first-ever Formula One Grand Prix in Las Vegas this November.
“There’s been a huge surge in interest in the U.S., predominantly driven by the launch of the [Formula One] Drive to Survive series on Netflix, which initially showed a spike in 18-to-25 year olds,” said Greg Hall, Moneygram CMO, when asked about why the brand is focusing on the sport now. “From a viewership perspective, from an interest perspective, there’s a great swell in the sport.”
Moneygram isn’t alone in recognizing the growing popularity of Formula One for a U.S. audience this year. Red Bull is currently running its own contest offering travel to Vegas later this fall. And, as previously reported by Digiday, Hilton Grand Vacations is pitching an exclusive experience at the same race to boost brand awareness and garner new members.
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