Apple’s F1 Film Fuels Formula One Group’s Revenue Surge
The release of Apple’s F1 film has significantly contributed to the financial success of the Formula One Group, owned by Liberty Media. Following the film’s debut in late June 2023, the group reported a remarkable **40 percent increase in revenue** year-over-year, reaching **$1 billion**. This surge can be partly attributed to the film’s success, which has already grossed over **$500 million** globally.
According to executives during Liberty Media’s latest earnings call, the film’s impact on revenue was quantified as “a mid-teens number for the quarter.” The revenue boost was complemented by continued growth in F1 TV subscriptions and a calendar variance that allowed for a larger share of season-based income to be recorded in the second quarter.
Film’s Broader Impact on the Sport
Stefano Domenicali, the CEO of Formula One, underscored that the film’s influence extends beyond immediate financial gains. He stated, “I would say the effect of the movie is not only about the dollars and economical input, but the sport will have an incredible opportunity to grow its awareness and to generate the circular economy around that.” This sentiment reflects a broader strategy to enhance the sport’s visibility and engage new audiences.
The anticipation continues as the film is set to be released on Apple’s streaming platform, Apple TV+. This move is expected to sustain interest and open up further revenue opportunities. The film’s theatrical success, coupled with its planned streaming release, positions Formula One to capitalize on the growing interest in motorsport.
Domenicali also drew parallels to Netflix’s successful docuseries, **Drive to Survive**, which previously ignited a surge in popularity for Formula One. The combination of films and streaming content has proven to be a powerful tool for engaging audiences and increasing viewership.
Future Prospects and Streaming Rights
In addition to the film’s impact, Apple is in discussions to secure U.S. streaming rights for Formula One. This potential move could further enhance the sport’s reach in a key market. Although a release date for the film on Apple TV+ has not been announced, it is currently being re-released in IMAX theaters, with tickets now available for fans eager to experience the film on the big screen.
As Formula One continues to explore new revenue streams and expand its global footprint, the collaboration with Apple through the F1 film exemplifies the innovative approaches being taken to attract and engage a wider audience. The future looks promising, with a blend of film, streaming, and traditional broadcasting set to reshape the landscape of motorsport entertainment.
