Samir Allen Farhoumand recently discussed the likely future of the motorsport industry.
The motorsport industry is drastically larger than many people think. It extends far beyond NASCAR to more than 194 countries around the world. The sport has more global appeal than most others, and that’s what has raised a lot of questions about what will happen with the sport in 2021, and beyond. Car mechanic and racing enthusiast Samir Allen Farhoumand recently discussed the future of the motorsport industry.
“We’re predicting that the motorsport industry will continue to grow despite the setbacks of the coronavirus pandemic,” Samir Allen Farhoumand said. “Social media and other online outlets are connecting fans from around the globe. The sport is set to reach a wider audience than ever before.”
Samir Allen Farhoumand stated that these advancements in digital technology also mean the sport will need to appease the appetites of the younger generation. Young fans are showing major interest in behind-the-scenes technical coverage, and the industry will need to learn how to provide this content without releasing confidential information.
“The new Formula 1 owners have made it clear that they value entertainment overall,” Samir Allen Farhoumand said. “They know they are at the top of the pyramid in the motorsports world, and to keep the industry thriving, the sport needs to value entertainment.”
Samir Allen Farhoumand explained that we can expect to see a number of new ideas implemented by the owners of F1, and they will likely trickle down into other areas of motorsports. He added that the industry will have to embrace the new more virtual environment while the coronavirus pandemic remains present.
“Industry leaders know that going digital is an essential part of survival in 2021,” Samir Allen Farhoumand said. “NASCAR is making moves to make this year the most interesting one yet for viewers, as in-person attendance may remain difficult, or even impossible, throughout the year.”
Samir Allen Farhoumand stated that while NASCAR officials have set out to make this year’s schedule the most dynamic one yet, they understand that some events may need to be canceled or changed due to the pandemic. NASCAR President Steve Phelps stated that he remains cautiously optimistic regarding the 2021 season and NASCAR’s objectives.
“Overall, we’re expecting the motorsports industry to continue growing despite the difficulties presented by the COVID-19 pandemic,” Samir Allen Farhoumand said.
“Improvements in digital technology and connectivity are expected to provide the sport more exposure than ever, even if fans can’t be in the stands.”
