Formula 1 topped The STA Group Power List for a second year running, voted the most tech-forward organization in sport by 500+ industry professionals, with the NBA, NFL, PGA European Tour and ESPN also featuring in the top five in the third annual edition of the list.
This is the second year in succession that the pinnacle of motorsport was bestowed with the accolade second successive year.
Of the F1 teams on the list, Red Bull is in 8th; Mercedes 19th, McLaren 21st, with Ferrari in 68th.
Rebecca Hopkins, CEO of The STA Group, said: “Congratulations to Formula 1 and all the organizations that have made this year’s extended Power List. The very fact we’ve felt the need to expand from 50 to 100 brands proves the level of competition and buoyancy of the sports technology sector.
“The top five brands would probably have been the pick of many sports fans as well as sports senior management, so prominent is their commitment to technology in achieving their success – both sporting and commercial. It is apparent that innovation is embedded in their culture,” added Hopkins.
F1 under Liberty Media has become high-tech after years of little interest in promoting the sport on social media platforms and video streaming networks, the F1 TV app did not exist as Bernie Ecclestone’s leadership languished in the middle ages.
Chase Carey, who told Bernie to clear his office and took over the reins, steadied the ship as a new age dawned for F1, The American’s solid tenure at the helm has enabled his successor Stefano Domenicali to carry the baton of success even further.
Boosted by a boom in popularity, particularly in America, where finally the masses have warmed to the European-centric sport. While not all of Doemnciali’s ideas are universally popular, keeping teams to ten being an example and more Sprint Races, the Italian – former Ferrari team boss – has done a solid job on the big picture and ensured that the momentum of success continues.
Press Release: Formula 1 tops list of most tech-forward organization in sport
The STA Group Power List celebrates the most important, advanced and innovative organisations in the sport sector globally and this year, it’s third edition, expanded from 50 to 100 brands in total. The final ranking has been decided by hundreds of industry leaders who cast their votes as to which brands should make the list and where they should rank.
Formula 1 is joined in the top five by two US professional sports leagues, the National Basketball Association (#2) and the National Football League (#3), the PGA European Tour (#4), and US broadcast giant, ESPN (#5).
The Power List comprises organizations from 11 different categories within the sports industry with some of the most recognizable brands in the world topping the votes in their sectors.
These include Agencies and Investors (IMG #42 overall), Blockchain and Web3 (Dapper Labs #70), Broadcast and OTT (ESPN #5), Gaming (EA Sports #41), Media and Telecommunications (Twitch #67), Performance (Strava #20), Rights Holders (F1 #1), Sporting Goods (adidas #30), Sports Data and Betting (Sportradar #14), Team (SailGP #7) and Technology (Sony #9).
Hopkins pointed out: “The results might surprise a few people, and there might be a few organizations which feel their rank is not commensurate with their true standing, but every judge was given an even-handed summary of each organization in contention for a Power List place.
“Big tech brands have generally ranked lower in the list than might be expected but often their sports market activities are reliant on partnerships rather than solus initiatives, the results of many are not yet fully realized”, Hopkins added.
2022 marks the third edition of the industry report
The Power List forms part of The Sports Technology Annual Review, launched today by The STA Group and the English Institute of Sport (EIS). 2022 marks the third edition of the industry report – the first of its kind for technology in the sports industry – which summarizes technology trends, influences and activity within the sports sector globally and offers both opinion as well as data.
The Review draws its information from a variety of sources including The English Institute of Sport (EIS) Innovation Department’s research, data gleaned from The STA Group awards’ entries, market research with selected industry figures and brands, and the authority brought to bear by individual chapter sponsors which includes the likes of Sportradar, Capgemini, HOK and Engage Digital Partners.
This year, The STA Group and EIS have scrutinized thousands of different technologies within a sports context, spanning data and analytics, Web3 and blockchain, performance equipment, broadcast and OTT and fan engagement innovations.