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High Octane Investing: Inside the Formula One Phenomenon
When Liberty Media bought the commercial rights to Formula One in 2017, it set a plan into motion: to transform this auto racing sport into a truly global phenomenon, backed by a strong brand and high-profile commercial partners. Sands Capital technology analyst Ben Betcher, CFA explains in this episode of What Matters Most, how Formula One’s tech-like business model differentiates it from other professional sports, and why it continues to drive interest from many investors.
Show Notes
(1:16) The business transformation of Formula One
(5:44) Understanding brand partners’ roles: From Mercedes to Amazon Web Services
(8:30) How the linear vs. streaming sea change impacts growth opportunity
(11:44) The Formula One platform: a tech-like business model
(13:30) Soaring team valuations
(15:54) The checkered history of Formula One
(17:39) An asset-light business approach
(18:07) Formula One’s competitive advantage
(20:38) The strength of a young and diverse audience
(21:25) Risks: rival leagues? sustainability?
(23:59) Improving monetization: The gamble of Las Vegas
(26:17) Growth drivers of promotion, sponsorship, advertising
(33:30) How Sands Capital analyzed and vetted Formula One as an investment opportunity
Disclosures: https://www.sandscapital.com/WMM-Disclosure
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