Liberty Media Strategies to Increase Revenue

If Chase Carey, the new president of the Formula One Group, indicated thathe would simply listen to requests from members of the F1 paddock During the first months, the American company Liberty Media, which has just bought the discipline from CVC Partners Capital, seems to have already studied several strategies to increase revenues.

Greg Maffei, executive director of Liberty Media, shared several plans for the future of the F1 during a Goldman Sachs Communacopia press conference held in New York.

“There is no real effort made in digital platforms, less than 1% of revenue comes from there, underlined Gref Maffei, cited by Reuters. We should be able to offer many things in terms of interaction, such as this evening with virtual reality or augmented reality. »

“We have a lot of video and data from races that we already collect without using it for the public and without exploiting opportunities like betting. There is a huge betting opportunity for the discipline outside the USA”, added Greg Maffei.

The executive director of Liberty Media also hopes to attract more sponsors to the discipline.

“I think we have 17 sponsors and only three people work on sponsorship in F1. In comparison, our Atlanta Braves baseball team has 75 sponsors in the USA alone.”, added Greg Maffei.