Formula One's 75th Season Kick-offs in London
Topflight racing series Formula One kicked off its 75th season in London on Tuesday, owned by Liberty Media (FWONK) for eight years. F1 continues its efforts to enhance accessibility and spectacle for fans and broadcasters. For the first time, all teams simultaneously unveiled their 2025 race cars at London's O2 Arena.
The sport experienced tremendous growth in attendance and viewership last year, prompting the addition of more races to the calendar. Morgan Stanley's Global Opportunity Fund recently established a position in Liberty Media, indicating confidence in the sport's future.
The London event showcased new cars and technologies while providing fans with close encounters with drivers. Netflix's "Drive to Survive" docuseries has fueled the sport's popularity, particularly in the US.
Season 7 of the docuseries will premiere in March before the season-opening Australian Grand Prix. Red Bull Racing driver Liam Lawson acknowledged its impact: "It's grown, especially in America. People are becoming really interested."
Lawson, who replaced Daniel Ricciardo at Racing Bulls in 2024, has been promoted to Red Bull's top team for 2025. He spoke to fans and media at Ford's Performance Racing School in Charlotte, N.C., emphasizing Ford's partnership with Red Bull as a powertrain supplier from 2026.
Marquee F1 races in Miami, Las Vegas, and Austin, Texas, demonstrate the importance of the US market for the sport and Liberty Media. Additionally, F1's US broadcast rights expire this year, presenting another potential revenue stream for Liberty Media.
Reports indicate that ESPN, the current rights holder, will not renew its contract due to the anticipated significant increase in license fees. F1's US audience averaged 1.1 million viewers in 2024, with the Miami Grand Prix attracting 3.1 million.
With ESPN reportedly out of the bidding, Netflix and Comcast's NBC emerge as potential frontrunners for the US broadcast rights. Amazon's Prime is also a contender.