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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 Observe: The Enterprise of System 1.’
Within the high-octane world of System 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 in the present day isn’t sufficient. Our major 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,” mentioned Stefano Domenicali, System One Group CEO, in an interview with CNBC’s Inside Observe: The Enterprise of System 1.
In actual fact, it was a serious deal — Liberty Media’s acquisition of F1 in 2017 — that propelled the game ahead. Since then, F1 has expanded into the US, launched a price cap that made groups extra investable and broadened viewership to a youthful viewers.
“We’re not competing to another sport. We’re competing to totally different pursuits,” Domenicali mentioned.
“The younger technology, they’re evaluating sport with films, with different issues which might be related for them. In order that’s the place we should be targeted. That is the place we should be robust, and that is possibly the explanation why we’re so profitable,” he added.
Watch the video above for an in-depth have a look at the world of dealmaking in F1, that includes interviews with System One Group CEO Stefano Domenicali, McLaren Racing CEO Zak Brown, Williams Racing Staff Principal James Vowles, Scuderia Ferrari HP Staff Principal Fréd Vasseur and extra.
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