LIBERTY MEDIA TAKE-OVER PIVOTS FORMULA ONE TO A NEW ENTERTAINMENT BRAND

Race Car News #Update

 

 

Following the new take over of the formula one racing sport by Liberty after liberty Media completed its $8 billion takeover (including debt), marking the start of a new era after Bernie Ecclestone oversaw the motor sport for 40 years.

This year marks the first full season in the post-Ecclestone era as new CEO and Chairman Chase Carey says he has high hopes for the sport. Speaking at the at the time of the acquisition that his plan is to take motor racing all over the world, making the races  there-in feel like Super Bowl events; with all the pomp and ceremony that goes with them. In the course of validating this, two motor racing veterans have been hired as managing directors: Former Ferrari technical director and ex-Mercedes team boss, Ross Brawn to be in charge of motor sports and former ESPN executive Sean Bratches for commercial operations.

“There was really no commercial business when I arrived, there was no head of marketing, no head of digital, no research, no communications, nothing. So (it) gave me the opportunity to hire an executive team … We had an opportunity to create our own culture and we’re off to the races,” pun intended.

“what we’re trying to do is to pivot this to a media and entertainment brand with the heart and soul of a race car driver at the middle of it,” he said

Bratches claims that Motorsport has over 500 million supporters around the world, which represents a huge audience.

“Our fans should expect a better and more professional distribution of the masses of video content produced from each race, plus games and virtual reality experiences”

In March, F1 and Netflix announced a 10-episode documentary series covering the 2018 season to be released early next year. Fan festivals will also be held in cities near the races including: Shanghai, Marseille, Berlin and Miami. F1 also has plans for more city-center street circuits and will launch a subscription streaming service, called F1 TV, next month.

Leave a Reply