International Courant
CNBC introduces you to the characters behind billions of {dollars} in offers outdoors the F1 circuit on this season’s first episode of ‘Inside Observe: The Enterprise of Formulation 1.’
Within the hectic world of Formulation 1, success is pushed by extra than simply proficient drivers and engineers.
F1’s dealmakers have raked in billions of {dollars} in income off the observe, earning profits in quite a lot of locations together with media rights, ticket gross sales, merchandising and sponsorship.
“Racing right now just isn’t sufficient. Our fundamental supply of success is having the ability to join with our followers, realizing that we’re a world firm,” mentioned Stefano Domenicali, CEO of the Formulation One Group, in an interview with CNBC’s Inside Observe: The Enterprise of Formulation 1.
In actual fact, it was a serious deal – Liberty Media’s takeover of F1 in 2017 – that propelled the game ahead. Since then, F1 has expanded into the US, launched a value cap that has made groups extra investable and expanded its viewership to a youthful viewers.
“We do not compete with another sport. We compete with completely different pursuits,” Domenicali mentioned.
“The younger technology compares sports activities with films, with different issues which might be related to them. So that is what we’ve got to concentrate on. That is the place we’ve got to be robust, and that is perhaps why we’re so profitable,” he added to.
Watch the video above for an in-depth look into the world of F1 dealmaking, that includes interviews with Formulation 1 Group CEO Stefano Domenicali, McLaren Racing CEO Zak Brown, Williams Racing staff principal James Vowles, Fréd Vasseur staff principal Scuderia Ferrari HP and extra.
Meet the individuals who generate billions of {dollars} in offers for Formulation 1
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