Categories
Brand Awareness

Record-Setting Viewers and Races Fuel a 20% Revenue Boost for Formula 1 [Video]

Formula One Group has announced a significant revenue increase in the second quarter of 2024, up 20% from the previous year, totaling $871 million. This growth, compared to $724 million in Q2 2023, reflects a thriving season marked by increased race numbers and viewer engagement.

The earnings boost also saw operating income rise by 17% year-over-year, reaching $84 million from $72 million. This financial success was underpinned by the expansion of the race calendar from six to eight races during Q2, including the return of the Chinese Grand Prix and the addition of the Emilia Romagna GP. Despite the addition of these races, race promotion revenue remained steady due to a carefully balanced mix of events.

Greg Maffei, President and CEO of Liberty Media, which holds the commercial rights to Formula 1 said the following via F1i:

“F1 is having an incredible season with particularly high engagement in growth markets.

Charles …

Watch/Read More
Categories
Brand Awareness

How China Is Rewiring Its Faltering Economy [Video]

Xi Jinping has a plan to fix his country’s faltering economy and offset the pain caused by the property crisis. The goal is to move up the value chain. Out with dirty, low-end manufacturing and in with new industries like solar and electric vehicles. The problem, however, is Chinese consumers aren’t spending. Also, Beijing faces a tense trade and geopolitical landscape with the US and Europe.00:00 Introduction 01:05 China’s growth story 01:54 Solar firm GCL 02:50 Hi-tech sectors04:05 Tariffs and weak consumption07:09 Model of success If you want to read more on China’s “great rewiring,” click here: https://trib.al/25srtVZFor more on Xi Jinping’s plans for the Chinese economy, click here: https://trib.al/4zPyDoh Sign up here for the Next China newsletter to get Bloomberg’s weekly dispatches from Beijing: https://trib.al/kX4Zyws--------Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: https://www.bloomberg.com/subscriptions?in_source=YoutubeOriginalsBloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it. Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.Visit our partner channel Bloomberg Quicktake for global news and insight in an instant.