Business of Formula One 2023 - Property Profile, Sponsorship and Media Landscape

Business of Formula One 2023 - Property Profile, Sponsorship and Media Landscape

Summary

Formula One is an incredibly rich sport to get involved in and the series is able to generate an estimated $1.05 billion in tickets sales alone. Sponsorship remains a key source of revenue for the competition each year, and across its 20 active deals for the 2023 season, its is estimated to generate $360.5 million. Red Bull as defending world champions have emerged as the biggest earners from sponsorship deals this season with its sister brand, AlphaTauri respectively the lowest earners.

GlobalData explores the commercial landscape of the Formula One automotive racing world championships. The competition has grown in popularity over the past few years thanks to the Netflix production 'Drive to Survive' and this report looks to highlight the key commercial operations of the competition and illustrate how that success has impacted them financially and commercially.

Key Highlights

A clear and in-depth look at the key commercial entities linked to the teams, drivers and the competition itself, including social media, TV figures, and key sponsorship deals. Key breakdowns made throughout each section of the report which offers key understanding and analysis of the sports ecosystem.

Scope

• The report is has been produced to offer expert insight and analysis around one of the most growing popular sports competitions around the world, with a particular focus on the sponsorship and media revenue generated for the 2023 season. The team also breaks down the main commercial deals around each of the ten competing teams as well as the 20 drivers which compete for the world championship title. The reports offers a comprehensive overview of the championship which is well regarded as the pinnacle of motor racing.

• The report provides an in-depth look at one of the fastest growing sports in terms of popularity which brands are keen to associate themselves with. It offers a strong understanding of the current market, highlights key trends and insights which are crucial to understand moving forward in the space.