In this episode, Dan and Albert break down Formula One Group. Formula One Group controls the exclusive commercial and promotional rights to the Formula One World Championship series, and the monetization of those rights is the primary business of the group. The firm is responsible for development and promotion of the Formula One race series in concert with its three partners: the FIA (the regulatory body), the teams that participate in the series, and the series' commercial partners, which include the race promoters, broadcasters, sponsors, and advertisers. Formula One Group is a subsidiary of Liberty Media Corporation, which purchased the firm in January 2017.
In this episode we cover:
- What is Formula 1? (2:27)
- Who watches Formula 1? (5:45)
- What is Liberty Media Corporation's business model for Formula 1? (10:20)
- How Formula 1 is penetrating global audiences? (22:14)
- How Formula 1 leads product and tech innovations? (31:51)
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