Motorsport Network, Newly Under Billionaire Ownership, Aims to Capitalize on F1 Fervor

Automotive media company Motorsport Network has recently unveiled a number of new expansion initiatives after being acquired last June by billionaire Gary Fegel, part of a broader bid from the organization to capitalize on the growing global interest in autosports.

Since February, the company has hired a new president, chief operating officer, senior vice president of marketing and senior vice president of sales, none of which have been previously reported. 

The hires complement a slate of editorial appointments recently made in November and April, including new editors in chief of Autosport and Motorsport, and a new head of content across the portfolio. The Motorsport Network includes the brands Motorsport, Autosport, InsideEVs and RideApart, as well as the Autosport Awards and Motorsport.tv.

The company is also launching a new B2B product called Autosport Business. The vertical will serve a business readership, including marketers, that aim to better navigate the expanding motorsports industry.

“The team is in growth mode, investing in the brand and in people,” said Jack Essig, the new president of media and partnerships at Motorsport Network. “We are taking ownership of everything going on in motorsport, which has a global fan base that is now blossoming in the U.S.”

The 300-person company, which has offices in New York, Rome and London, declined to say whether it was profitable or offer specifics on the size of its business. 

It generates more than half of its revenue from advertising, although it hopes the new B2B offering could help grow that segment to 65% of its overall revenue by the end of 2025, according to Essig. The remainder of its revenue comes from a mix of subscriptions, licensing and sponsorship, and it plans to launch an affiliate business in the fourth quarter.

The investment in Motorsport Network reflects a number of dovetailing trends in the media space. First, surging consumer interest in auto and motorsports has prompted an uptick in media coverage of the sector. 

The expansion efforts also reflect the growing prominence of live sports in the connected television ecosystem. The natural scarcity of sports, combined with the up-market nature of leagues like Formula 1, have made them appealing vehicles for luxury brands looking to reach affluent audiences.

New commercial and editorial hires

As previously mentioned, the Motorsport Network has made seven key hires across its commercial and editorial departments since being acquired by Fegel.

On the revenue side, the company made four new appointments. In addition to Essig, who formerly served as senior vice president, publishing director and chief revenue officer at Hearst Men’s Group, the company also brought in Greg Gatto, formerly the COO of MyGolfSpy, to serve as its new COO; Lisa Boyars, formerly the senior vice president of marketing at The Atlantic, to serve as its new senior vice president of marketing; and Adam Dub, formerly the chief sales and marketing officer at The Week, to serve as its new senior vice president of sales. 

The three editorial hires include Mike Spinelli, formerly the chief content officer at The Drive, who is now the head of content; Rebecca Clancy, formerly the motor racing correspondent at The Times, who is the new editor-in-chief of Autosport; and Jon Wilde, formerly of BDG and GQ, who is now the editor in chief of Motorsport Network. 

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Autosport Business, which the company launched in late May at the Monaco Grand Prix, will cater to marketers and other professionals looking to deeply embed their businesses within the autosports ecosystem.

The company is also launching other new products to keep up with the growing demand for F1 and motorsports, including Motorsport Studios, a production house that will enable the company to produce branded content for clients. 

In addition, Motorsport Network is looking to expand its editorial offerings, with plans to introduce new podcast and newsletter products in the coming months. It also plans to increase its presence at the burgeoning automotive circuit, which includes tentpole events in Miami, Austin, Las Vegas and European venues.

The media company hopes that as automotive sports expand into more of a lifestyle category, the move will encourage more non-endemic brands to want to advertise in the space. According to Essig, Motorsport Network attracts 40 million unique monthly visitors across its portfolio.

“There is a real curiosity about what’s going on in this space,” Essig said. “We have a 75-year-old brand and are the most trusted source for information about motorsport, both of which have helped us tell its story.”