It’s now confirmed—NASCAR is charging full speed ahead with a second season of its Netflix docuseries, NASCAR: Full Speed, despite some setbacks. While the series’ return is eagerly anticipated, the sport is facing the departure of one of its largest sponsors, GEICO.
GEICO, the second-largest auto insurer in the U.S., has been a part of NASCAR since 2009. With a staggering asset value of over $32 billion, GEICO played a pivotal role in NASCAR’s 2020 sponsorship model shift. Now, only Coca-Cola, Busch Beer, and Xfinity Internet remain, creating uncertainty about the future of NASCAR’s primary partner revenue system. However, with a $7.7 billion media rights deal on the horizon, the sport’s financial future may not be as unstable as it seems.
Though the financial impact of GEICO leaving NASCAR is unclear, reports suggest that the company was paying NASCAR in the “low seven figures” to be its official insurance partner in 2019. Comparatively, NASCAR had to shell out more than $5 million to bring NASCAR: Full Speed back for a second season in 2024.
The first season was a major success, landing in Netflix’s top 10 most-watched list in the U.S. and nearly 20 other countries. On average, each episode of “Full Speed” was viewed by over 5 million people, showing that NASCAR’s global fan base is stronger than ever. The second season is already in production, and fans are hoping for more episodes than the five that aired in season one.
To capitalize on the success, NASCAR has teamed up with Words + Pictures to create Full Speed Entertainment, a new venture aimed at producing even more racing-related content. Connor Schell, CEO of Words + Pictures, is excited about the partnership, saying, “The opportunity to bring more great racing content to fans opens up new possibilities we’re eager to explore.”
While GEICO’s departure is significant, NASCAR’s strategic moves suggest that it’s well-prepared for the future. The sport is making key investments in streaming platforms and content, positioning itself for global growth.
In 2025, NASCAR’s $7.7 billion media rights deal will kick in, expanding its presence across six streaming platforms, including Amazon Prime Video, truTV, and Max’s Bleacher Report add-on. This digital push is expected to open up NASCAR’s unique brand of racing to new, international audiences.
With a 40% increase over its previous media deal, NASCAR is securing its financial stability across multiple platforms. No longer relying solely on sponsorships and ticket sales, NASCAR is evolving to meet the demands of a growing global fanbase. As NASCAR President Steve Phelps stated, the goal is to “deliver our product to fans wherever they are.”
What do you think about GEICO’s exit? Will Netflix’s second season of NASCAR Full Speed continue to boost NASCAR’s global presence? Share your thoughts below!
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