CNBC introduces you to the characters driving billions of {dollars} in offers off the F1 circuit, within the first of episode of this season of ‘Inside Monitor: The Enterprise of Components 1.’
Within the high-octane world of Components One, success is pushed by extra than simply gifted drivers and engineers.
F1’s dealmakers have brokered billions of {dollars} in income off the circuit, producing money from a number of locations, together with media rights, ticket gross sales, merchandising and sponsorship.
“Racing right now just isn’t sufficient. Our essential supply of success is as a result of we’re in a position to join with our followers, understanding that we’re a worldwide enterprise,” stated Stefano Domenicali, Components One Group CEO, in an interview with CNBC’s Inside Monitor: The Enterprise of Components 1.
In reality, it was a significant deal — Liberty Media’s acquisition of F1 in 2017 — that propelled the game ahead. Since then, F1 has expanded into the United States, launched a price cap that made groups extra investable and broadened viewership to a youthful viewers.
“We aren’t competing to another sport. We’re competing to totally different pursuits,” Domenicali stated.
“The younger technology, they’re evaluating sport with motion pictures, with different issues which might be related for them. In order that’s the place we should be centered. That is the place we should be robust, and that is possibly the rationale why we’re so profitable,” he added.
Watch the video above for an in-depth take a look at the world of dealmaking in F1, that includes interviews with Components One Group CEO Stefano Domenicali, McLaren Racing CEO Zak Brown, Williams Racing Crew Principal James Vowles, Scuderia Ferrari HP Crew Principal Fréd Vasseur and extra.
