F1: Shareholders have a lot to be excited about
Shareholders of Liberty Formula One could soon be excited as the global racing league continues to expand and grow its viewership across the U.S. The success will likely increase the amount the league gets in a new USA media rights deal from $5million per year today to $100 million/year.
The sport also has big-screen aspirations. Apple Inc. recently announced that a movie about a Formula One driver, starring Brad Pitt, is in the works. The film, which comes from the same creative team behind “Top Gun: Maverick” for Paramount Global Inc.
is expected to get a theatrical release before hitting the Apple TV+ streaming platform.
The number of sponsors for teams and for F1 itself has more than doubled since Liberty Media took over. Doubled not only in numbers of sponsors, but also how much they are willing to pay to be involved in the sport.
Needless to say, F1 is pulling away from all other forms of motorsports globally.
Volkswagen CEO Herbert Diess said, “Formula 1 is growing worldwide – in motorsport only Formula 1 counts.