Formula One Group (FWONA) J.P. Morgan 54th Annual Global Technology, Media and Communications Conference summary

Strategic focus and business structure

• Maintains focus on operational excellence and growth for Formula 1 and MotoGP after spinning off Liberty Live, with ongoing momentum in both units.

• MotoGP is undergoing team upgrades and commercial expansion to broaden its audience and ramp up commercialization over the next several years.

Product innovation and media partnerships

• New regulations and car changes in Formula 1 have increased fan engagement and competitiveness, with controversy seen as beneficial for business.

• Partnership with Apple TV has enabled innovative features like multi-view and broader distribution, with seamless audience transition from ESPN.

• Apple’s approach includes cross-platform promotions, such as IMAX and Netflix, and may expand globally.

• Early renewal with Sky in the UK and Italy has driven significant audience growth, especially among women and younger viewers.

Direct-to-consumer and digital strategy

• F1 TV’s direct-to-consumer model is a key growth driver, with Q1 revenue ex-US up 30%, and flexibility in market approach to support partners.

• Data from DTC channels is critical for understanding fan behavior and maintaining direct relationships.