F1 – Liberty Media: “The agreement with Apple is a success”
The President and CEO of Liberty Media, Derek Chang, described the first results of Formula 1’s move to Apple TV in the United States as highly encouraging. Speaking during a conference call with Wall Street analysts, Chang highlighted the progress already achieved thanks to the technological partnership with Apple.
The Liberty Media chief executive then stated: “The initial results have been promising. Our partnership with Apple and its technology-driven platform is already delivering the first innovative improvements to our F1 product, with multiview options, data feeds and onboard features, creating a more immersive viewing experience for our fans. Viewership has increased during the first three races of the year. Fan engagement is growing”.
He also underlined the expansion of Formula 1’s audience: “We are attracting a younger audience and a stronger female presence, and we are seeing an expanded reach through Apple’s vast ecosystem”. Joint marketing activations made the Miami Grand Prix especially visible, with pit stop experiences inside Apple Stores across the country, Apple Maps integrations, and brand-new original content broadcast throughout the race weekend.
No backlash from existing fans
Chang also focused on the positive reaction from long-time supporters, explaining that there had been no noticeable backlash linked to the platform switch. “From a risk mitigation standpoint, I think whenever you change television partners there is always the possibility of getting a lot of complaints from fans – that they cannot find it or things like that, or that it is not as good as before. And we have had none of that. In fact, it has been positive in terms of how consumers have interacted with the product and with the viewing experience – and the feedback circulating says it has been a good experience for them”.
He added that overall viewership throughout the entire race weekend had been strong and that Apple had done an excellent job of bringing people into its ecosystem.
Stefano Domenicali outlines long-term ambitions
Formula 1 President and CEO Stefano Domenicali stressed the long-term nature of the agreement and its significant growth potential: “We must not forget two things. Our fan base is younger and there is a strong female presence – around 40% in the United States – and that is why we believe Apple will provide them with a much more suitable way to experience Formula 1”.
Stefano Domenicali also reminded everyone that the project is still in its early stages after only four races: “We must not forget that another positive effect of what is a journey that has only just started is that we have only done four races so far; and obviously this is a long-term agreement. So every weekend there is something we learn and something we will improve. There is the possibility, as has already happened, for Apple to use different platforms – IMAX, stores and other activations that have already taken place – which will generate more interest and more followers. I would say this is a more dynamic way to experience our sport”.
Apple’s commitment and executive support
The Italian executive also highlighted Apple’s technical efforts and the strong support coming directly from the company’s leadership: “There is also a huge commitment from Apple to deliver new technical content. And this is a long-term journey that so far has been very, very positive, because we are only at the beginning of a new path – where, out of the first four races, the first three were not particularly favorable for the American market in terms of race times”.
Stefano Domenicali confirmed Apple’s full commitment at the highest levels of the company: “We believe this is only the beginning of something that will create even more attention for the future – and I can confirm it because Eddy Cue was present in Miami – Apple is completely on board. Completely on board, as confirmed by Cue; but also by Apple’s future CEO, John Ternus, who is a passionate motorsport fan”.
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