Greg Maffei, CEO of Liberty Media: Interest in F1 explodes in the US, thanks to Netflix and the networks
November 16, 2023 at 04:28 pm EST
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Liberty Media Chairman and CEO Greg Maffei discusses news from the world of F1, the impact of racing in the US on fans and sponsors, and the importance of differentiating racing. He highlights the explosion of interest in Formula 1 in the U.S., thanks in part to Netflix and social media, how Liberty Media is capitalizing on this craze, and the increase in investor interest in buying Formula 1 teams.
Liberty Media Corporation operates and owns interests in a range of media, communications, and entertainment businesses. The Companyâs businesses are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Formula One Group, and the Liberty Live Group. Its Sirius XM Holdings segment operates two complementary audio entertainment businesses, SiriusXM and Pandora and Off-platform. SiriusXM features music, sports, entertainment, comedy, talk, news, traffic and weather channels and other content, as well as podcasts and infotainment services, in the United States on a subscription fee basis. SiriusXMâs packages include live, curated and certain exclusive and on-demand programming. Its Formula 1 segment is a global motorsports business that holds commercial rights with respect to the World Championship, an annual, approximately nine-month long, motor race-based competition. It is also a provider of premium experiences at the world's sports and entertainment events.