The release of Apple’s Formula One film has significantly contributed to a remarkable revenue increase for the Formula One Group. In its latest earnings report, the group, which operates under the umbrella of Liberty Media, announced a staggering 40 percent year-over-year growth, reaching a total revenue of $1 billion for the quarter ending in June.
This impressive financial uplift is attributed partly to the film’s launch in late June, which executives estimated to have delivered a mid-teens percentage boost to quarterly earnings. Alongside the film’s impact, factors such as the growth in F1 TV subscriptions and a calendar variance leading to a higher recognition of season-based income in the second quarter played vital roles in this financial success.
Stefano Domenicali, CEO of Formula One Group, highlighted the film’s broader implications during the earnings call. He stated, “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.” With the film already surpassing $500 million in global earnings, its influence is expected to extend further as it becomes available on Apple’s streaming platform, Apple TV+.
Future Growth Opportunities in Formula One
The success of Apple’s F1 film echoes the earlier impact of Netflix’s docuseries, Drive to Survive, which also played a crucial role in boosting interest in the sport. As Formula One continues to expand its global audience, the potential for future revenue streams remains substantial.
In a bid to capitalize on this momentum, Apple is reportedly in discussions to secure U.S. streaming rights for Formula One, which could further enhance viewership and engagement with the sport. Although a specific release date for the film on Apple TV+ has not been announced, it is currently being re-released in IMAX theaters, with tickets available for purchase.
The combination of strategic film releases and streaming partnerships positions Formula One for continued growth in the coming months. As the sport embraces new media opportunities, its ability to attract and retain a diverse audience will be pivotal in driving future revenue increases.
