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Formula 1's growth in recent years has been impressive, with viewership significantly increasing even during the covid-19-affected 2020 and 2021 seasons. 

This is not to say Formula 1's handling of the pandemic (especially in the early stages) was stellar or even competent. Still, compared to other sports, the pinnacle of motorsport has been among the few to flourish.

This is especially true in the Americas, a market where F1 has historically failed to reach the same success it has traditionally enjoyed in Europe and Asia.

ESPN's recent TV rights agreement demonstrates the tremendous growth of F1 in the States. The Sports Business Journal reports that ESPN will go from paying $5 million annually for F1 broadcasting rights in the United States, to an estimated $75-90 million annually.

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Liberty Media are eager to continue F1's momentum in the Americas, with the upcoming Grand Prix in Las Vegas (alongside the recent addition of Miami) planned to further the growth and excitement surrounding F1 in the states. 

ESPN's willingness to pay such an increased fee to broadcast F1 is not only in light of recent viewership numbers increasing but is also motivated by the belief that viewership will make further gains in the next four years, with ESPN's new TV rights extending until 2025. 

There are pay-walls to watching F1 in several territories, but the sport's popularity is such that even amidst financial barriers viewership has increased across the board. 

It remains to be seen how Liberty Media will act to continue this positive trend in growth, though it is expected that future F1 calendars will feature different venues and markets that are relatively unexplored.

In just the last few weeks, there is confirmed interest from cities such as Madrid and Nice in joining the calendar.

These developments demonstrate the tremendous benefits of hosting an F1 Grand Prix, which is now seen as a significant global event in an increasingly international sport.