"Liberty Media acquired Formula 1 racing from a consortium of investors in 2017 at a valuation of $8 billion and has since tripled that value through partnering to create U.S. races, Netflix's Formula 1: Drive to Survive series, an F1 movie, the F1 Academy woman's circuit, fashion, influencer marketing and broadcast reach that will further expand with an Apple partnership next year."
""We were a very exclusive sport, 'look, don't touch,' and Liberty brought a new way of thinking," Brown said in the latest Fortune Leadership Next podcast. "We figured out how to let people in the tent to engage with the sport"-be it the drivers, the team, the technology, the drama off the grid or the idiosyncrasies of the sport itself."
"LVMH is now F1's global luxury partner and many individuals I met had flown in from across the world and paid thousands of dollars to see the race from the Paddock Club and suites like House 44, F1's collaboration with Ferrari driver Lewis Hamilton and Soho House. High-end American Express cardholders could sample 'The Only Caviar' with co-founders Breaking Bad star Aaron Paul and Michelin-star chef Diego Sabino at the Aria resort."
Liberty Media purchased Formula 1 in 2017 for $8 billion and has since roughly tripled its value by expanding races, media properties, and strategic partnerships. Growth strategies include U.S. events, Netflix’s Drive to Survive, an F1 movie, the F1 Academy women’s circuit, fashion collaborations, influencer marketing, and larger broadcast deals, including an upcoming Apple partnership. The Las Vegas Grand Prix illustrated both democratized fan engagement and a two-tiered experience economy, with luxury partners like LVMH, premium suites and branded hospitality alongside mainstream sponsors such as PepsiCo, driving diversified revenue and heightened corporate marketing involvement.
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