Latest news with #FormulaOneGroup
Yahoo
5 days ago
- Entertainment
- Yahoo
How Brad Pitt's F1 Movie Boosted Real-Life F1 Earnings
One of the year's most talked-about movies and box office successes is Brad Pitt's F1, which has now proven to be a revenue bump for the Formula One Group, according to The Hollywood Reporter. Directed by Joseph Kasinski, F1 had a budget of $200-$300 million and has blown past it ever since opening weekend in late June, amassing over $550 million globally at the box office. While the movie is a critical success all around by fans and critics, it has another accomplishment to celebrate. The Formula One Group saw a one-time rise in revenue, with the movie having contributed to the group's 40 percent rise in revenue year-over-year to hit $1 billion. On a Formula One call on Thursday, President Stefano Domenicali not only praised the increase in revenue but also the cultural impact F1 has made, and the economic impact it has had on the sport. "I would say the effect of the movie is not only, of course, about the dollars and economical input, but the sport will have an incredible opportunity to grow its awareness and to generate the circular economy around that," said Domenicali. He adds that the buzz and social media surrounding the movie also pushed the fanbase to show more interest and led to an increase in live viewership by 7% in the U.S. compared to last year. Domenicali also expects future revenue opportunities as F1 is set to be released on Apple's streaming platform. F1 follows former Formula 1 driver Sonny Hayes (Pitt), who returns to the sport to mentor a young rising star while racing for a fictional team called APXGP. The movie is filmed during real F1 Grand Prix weekends, blending live race footage with cinematic storytelling. Alongside Pitt, F1 also stars Kerry Condon, Damson Idris, and Javier Bardem. How Brad Pitt's F1 Movie Boosted Real-Life F1 Earnings first appeared on Men's Journal on Aug 7, 2025 Solve the daily Crossword
Business Wire
7 days ago
- Business
- Business Wire
Liberty Media Corporation Reports Second Quarter 2025 Financial Results
ENGLEWOOD, Colo.--(BUSINESS WIRE)--Liberty Media Corporation ('Liberty Media' or 'Liberty') (NASDAQ: FWONA, FWONK, LLYVA, LLYVK) today reported second quarter 2025 results. Headlines include (1): Attributed to Formula One Group Completed acquisition of MotoGP on July 3 rd Renewed agreement with Canadian Grand Prix through 2035 with a long-term extension to Bell Media's media rights deal and renewed Austrian Grand Prix through 2041 Secured PepsiCo as new Official Partner of F1 through 2030 and extended Global Partnership with MSC Cruises through 2030 Announced new licensing agreement with Disney's Mickey & Friends beginning in 2026 F1 The Movie opened globally on June 27 th and is Apple's highest-grossing film ever Attributed to Liberty Live Group Fair value of Live Nation investment was $10.5 billion as of June 30 th Filed preliminary proxy statement on July 25 th, expect to complete split-off in fourth quarter 2025 'We made excellent progress since last quarter on our stated priorities, including completing the acquisition of MotoGP, advancing the split-off of Liberty Live and continuing excellent financial and operating results at Formula 1,' said Derek Chang, Liberty Media President & CEO. 'Formula 1's global strength continues to drive commercial momentum and financial success, with new partners signed and record fan engagement demonstrating the breadth and appeal of the brand. We are thrilled to begin our partnership with the MotoGP management team and, while early days, are working closely with them to support their strategic direction and accelerate the company's growth.' Corporate Updates On July 3, 2025, Liberty Media completed the acquisition of Dorna Sports, S.L. ('MotoGP'), the exclusive commercial rights holder of the MotoGP™ World Championship, and will consolidate its financial results from that point forward. Following the acquisition, Liberty Media owns approximately 84% of MotoGP with MotoGP management retaining 16% of the business. MotoGP is attributed to the Formula One Group tracking stock. Due to the timing of the acquisition, the initial accounting for the acquisition is not reflected in the below financial results. Discussion of Results Unless otherwise noted, the following discussion compares financial information for the three and six months ended June 30, 2025 to the same period in 2024. FORMULA ONE GROUP – The following table provides the financial results attributed to Formula One Group for the second quarter of 2025. In the second quarter, Formula One Group incurred $14 million of corporate level selling, general and administrative expense (including stock-based compensation expense). For the periods presented below, the businesses and assets attributed to Formula One Group consist primarily of Liberty Media's subsidiaries, F1 and Quint. F1 Operating Results 'This season has showcased phenomenal racing, with multiple teams and drivers competing at the very highest level. The F1 movie from Apple debuted to well-deserved accolades, marking the largest box office theatrical release for any streaming service and captivating audiences of both core and new F1 fans alike. Cultural moments like the F1 movie alongside exciting on-track action are generating strong viewership trends and especially robust social and digital engagement, including a record number of social impressions delivered by content posted on official F1 channels. Thanks to the efforts of our teams, partners and the F1 community, we are driving excellent momentum at Formula 1 on and off the track,' said Stefano Domenicali, Formula 1 President and CEO. The following table provides the operating results of Formula 1 ('F1'). ____________________ a) Includes $61 million and $50 million of amortization related to purchase accounting for the three months ended June 30, 2024 and June 30, 2025, respectively, that is excluded from calculations for purposes of team payments, and $123 million and $100 million of amortization related to purchase accounting for the six months ended June 30, 2024 and June 30, 2025, respectively, that is excluded from calculations for purposes of team payments. Expand Primary F1 revenue represents the majority of F1's revenue and is derived from (i) race promotion revenue, (ii) media rights fees and (iii) sponsorship fees. There were nine races held in the second quarter of 2025 compared to eight races held in the second quarter of 2024. There were 11 races held year-to-date through the second quarter of both 2025 and 2024. The 2025 calendar is scheduled to have the same 24 events that were held in 2024, except in a different order throughout the season, which will impact the year-over-year revenue and cost comparisons on a quarterly basis. Primary F1 revenue increased in the three months ended June 30, 2025 primarily due to the calendar variance compared to the prior year, which drove additional race promotion revenue and higher sponsorship and media rights revenue with a larger proportion of season-based income recognized during the period, as well as contractual increases in fees across all primary revenue streams. Sponsorship revenue also benefitted from revenue recognized from new sponsors. Media rights revenue also increased due to continued growth in F1 TV subscriptions and the recognition of one-time revenue associated with the release of the F1 movie. Other F1 revenue increased in the second quarter primarily due to higher hospitality and experiences revenue and growth in licensing income. The increase in hospitality and experiences revenue was driven by underlying Paddock Club growth as well as one additional event and the mix of races held. The calendar variance and mix of events also led to higher revenue from travel, technical and freight services in the second quarter. Primary F1 revenue increased in the six months ended June 30, 2025 with growth across all revenue streams compared to the prior year. Sponsorship revenue grew due to revenue recognized from new sponsors and growth in revenue from existing contracts. Media rights revenue grew due to contractual increases in fees, continued growth in F1 TV subscriptions and the recognition of one-time revenue associated with the release of the F1 movie. Race promotion revenue increased due to contractual increases in fees and growth in other support race fees. Other F1 revenue increased in the six months ended June 30, 2025 primarily driven by higher freight income due to the different routes flown and the pass through of increased freight costs, higher hospitality from growing attendance at Paddock Clubs and growth in revenue from licensing. Operating income and Adjusted OIBDA (2) grew in the three and six months ended June 30, 2025. Team payments increased for both periods due to the pro rata recognition of expected higher team payments for the full year. Other cost of F1 revenue is largely variable in nature and derived from servicing both Primary and Other F1 revenue opportunities. These costs increased for both the three and six months ended June 30, 2025 due to higher freight costs associated with the different order of events, higher commissions and partner servicing costs linked to underlying revenue growth, higher Paddock Club costs due to increased attendance, increased costs to service new sponsors, higher costs of delivering F1 TV to a growing subscriber base and expense associated with the Grand Prix Plaza in Las Vegas, which launched new activations and other events in the second quarter. Growth in other cost of F1 revenue in the three months ended June 30, 2025 was also impacted by the additional race held, which impacted costs of the Paddock Club, technical, travel and freight services. Selling, general and administrative expense increased in the three and six months ended June 30, 2025 primarily due to higher personnel and marketing expense, including marketing costs associated with the 75 th season launch event at London's The O2 in the six-month period. Corporate and Other Operating Results Corporate and Other Adjusted OIBDA includes the rental income related to Grand Prix Plaza in Las Vegas, Quint results and other corporate overhead for the second quarter of 2025 and the prior year period. Corporate and Other revenue increased in the second quarter due to Quint results. There was $6 million of rental income related to Grand Prix Plaza in Las Vegas in the second quarter of both 2025 and 2024. In the second quarter, Quint results were primarily driven by F1 Experiences across the nine races held and the Kentucky Derby. Quint's revenue is seasonal around its largest events, which are generally during the second and fourth quarters. LIBERTY LIVE GROUP – In the second quarter, $7 million of corporate level selling, general and administrative expense (including stock-based compensation expense) was allocated to Liberty Live Group. The businesses and assets attributed to Liberty Live Group consist of Liberty Media's interest in Live Nation and other minority investments. Share Repurchases There were no repurchases of Liberty Media's common stock from May 1 through July 31, 2025. The total remaining repurchase authorization for Liberty Media as of August 1, 2025 is $1.1 billion and can be applied to repurchases of common shares of any of the Liberty Media tracking stocks. FOOTNOTES 1) Liberty Media will discuss these headlines and other matters on Liberty Media's earnings conference call that will begin at 10:00 a.m. (E.T.) on August 7, 2025. For information regarding how to access the call, please see 'Important Notice' later in this document. 2) For a definition of Adjusted OIBDA (as defined by Liberty Media) and the applicable reconciliation, see the accompanying schedule. Expand NOTES Cash and Debt The following presentation is provided to separately identify cash and debt information. The acquisition of MotoGP was completed on July 3, 2025 and is not reflected in cash and debt presented below. ____________________ a) Includes $1,547 million and $1,775 million of cash held at F1 as of March 31, 2025 and June 30, 2025, respectively, and $69 million and $70 million of cash held at Quint as of March 31, 2025 and June 30, 2025, respectively. b) Face amount of the convertible notes and exchangeable debentures with no fair market value adjustment. c) Net leverage as defined in F1's credit facilities for covenant calculations. Expand Liberty Media and F1 are in compliance with their debt covenants as of June 30, 2025. Total cash and cash equivalents attributed to Formula One Group increased $307 million during the second quarter primarily due to net cash from operations at F1 and proceeds from the partial settlement of derivative contracts related to MotoGP transaction financing, partially offset by capital expenditures at F1. Total debt attributed to Formula One Group was relatively flat in the second quarter. Total cash and cash equivalents attributed to Liberty Live Group decreased $6 million during the second quarter primarily due to interest payments and corporate overhead. Total debt attributed to Liberty Live Group was flat during the second quarter. Important Notice: Liberty Media Corporation (Nasdaq: FWONA, FWONK, LLYVA, LLYVK) will discuss Liberty Media's earnings release on a conference call which will begin at 10:00 a.m. (E.T.) on August 7, 2025. The call can be accessed by dialing (877) 704-2829 or (215) 268-9864, passcode 13748884 at least 10 minutes prior to the start time. The call will also be broadcast live across the Internet and archived on our website. To access the webcast go to Links to this press release will also be available on the Liberty Media website. This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about business strategies, market potential, future financial performance and prospects, the Formula 1 race calendar, expectations regarding Formula 1's business, the planned split-off of Liberty Live and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, the satisfaction of all conditions for the split-off of Liberty Live, possible changes in market acceptance of new products or services, regulatory matters affecting our businesses, the unfavorable outcome of future litigation, the failure to realize benefits of acquisitions, rapid industry change, failure of third parties to perform, continued access to capital on terms acceptable to Liberty Media and changes in law, including consumer protection laws, and their enforcement. These forward-looking statements speak only as of the date of this press release, and Liberty Media expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty Media's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of Liberty Media, including the most recent Forms 10-K and 10-Q, for additional information about Liberty Media and about the risks and uncertainties related to Liberty Media's business which may affect the statements made in this press release. LIBERTY MEDIA CORPORATION June 30, 2025 (unaudited) Attributed Formula Liberty amounts in millions Assets Current assets: Cash and cash equivalents $ 3,140 308 — 3,448 Trade and other receivables, net 143 1 — 144 Other current assets 510 — — 510 Total current assets 3,793 309 — 4,102 Investments in affiliates, accounted for using the equity method 33 589 — 622 Property and equipment, at cost 1,012 — — 1,012 Accumulated depreciation (184 ) — — (184 ) 828 — — 828 Goodwill 4,135 — — 4,135 Intangible assets subject to amortization, net 2,570 — — 2,570 Deferred income tax assets 569 256 (35 ) 790 Other assets 557 217 — 774 Total assets $ 12,485 1,371 (35 ) 13,821 Liabilities and Equity Current liabilities: Accounts payable and accrued liabilities $ 469 1 — 470 Current portion of debt 34 1,769 — 1,803 Deferred revenue 780 — — 780 Other current liabilities 50 — — 50 Total current liabilities 1,333 1,770 — 3,103 Long-term debt 2,996 — — 2,996 Other liabilities 304 90 (35 ) 359 Total liabilities 4,633 1,860 (35 ) 6,458 Equity / Attributed net assets 7,852 (511 ) — 7,341 Noncontrolling interests in equity of subsidiaries — 22 — 22 Total liabilities and equity $ 12,485 1,371 (35 ) 13,821 Expand LIBERTY MEDIA CORPORATION Three months ended June 30, 2025 (unaudited) Attributed Formula Liberty One Live Consolidated Group Group Liberty amounts in millions Revenue: Formula 1 revenue $ 1,203 — 1,203 Other revenue 138 — 138 Total revenue 1,341 — 1,341 Operating costs and expenses: Cost of Formula 1 revenue (exclusive of depreciation shown separately below) 779 — 779 Other cost of sales 88 — 88 Selling, general and administrative (1) 111 7 118 Acquisition costs 3 — 3 Depreciation and amortization 80 — 80 1,061 7 1,068 Operating income (loss) 280 (7 ) 273 Other income (expense): Interest expense (49 ) (8 ) (57 ) Share of earnings (losses) of affiliates, net (2 ) 73 71 Realized and unrealized gains (losses) on financial instruments, net 160 (289 ) (129 ) Other, net 66 4 70 175 (220 ) (45 ) Earnings (loss) before income taxes 455 (227 ) 228 Income tax (expense) benefit (73 ) 49 (24 ) Net earnings (loss) 382 (178 ) 204 Less net earnings (loss) attributable to the noncontrolling interests — — — Net earnings (loss) attributable to Liberty stockholders $ 382 (178 ) 204 (1) Includes stock-based compensation expense as follows: Selling, general and administrative $ 6 2 8 Expand LIBERTY MEDIA CORPORATION STATEMENT OF OPERATIONS INFORMATION Three months ended June 30, 2024 (unaudited) Attributed Formula Liberty Liberty One Live SiriusXM Consolidated Group Group Group Liberty amounts in millions Revenue: Formula 1 revenue $ 853 — — 853 Other revenue 135 — — 135 Total revenue 988 — — 988 Operating costs and expenses: Cost of Formula 1 revenue (exclusive of depreciation shown separately below) 639 — — 639 Other cost of sales 94 — — 94 Selling, general and administrative (1) 96 2 — 98 Acquisition costs 11 — — 11 Depreciation and amortization 89 — — 89 929 2 — 931 Operating income (loss) 59 (2 ) — 57 Other income (expense): Interest expense (53 ) (7 ) — (60 ) Share of earnings (losses) of affiliates, net (2 ) 85 — 83 Realized and unrealized gains (losses) on financial instruments, net (1 ) 88 — 87 Other, net 20 6 — 26 (36 ) 172 — 136 Earnings (loss) from continuing operations before income taxes 23 170 — 193 Income tax (expense) benefit 1 (36 ) — (35 ) Net earnings (loss) from continuing operations 24 134 — 158 Net earnings (loss) from discontinued operations — — 349 349 Net earnings (loss) 24 134 349 507 Less net earnings (loss) attributable to the noncontrolling interests — — 50 50 Net earnings (loss) attributable to Liberty stockholders $ 24 134 299 457 (1) Includes stock-based compensation expense as follows: Selling, general and administrative $ 6 1 — 7 Expand LIBERTY MEDIA CORPORATION STATEMENT OF CASH FLOWS INFORMATION Six months ended June 30, 2025 (unaudited) Attributed Formula Liberty One Live Consolidated Group Group Liberty amounts in millions Cash flows from operating activities: Net earnings (loss) $ 404 (195 ) 209 Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: Depreciation and amortization 157 — 157 Stock-based compensation 8 2 10 Share of (earnings) loss of affiliates, net 5 (77 ) (72 ) Realized and unrealized (gains) losses on financial instruments, net (242 ) 306 64 Deferred income tax expense (benefit) 9 (51 ) (42 ) Intergroup tax allocation 3 (3 ) — Other, net (33 ) 1 (32 ) Changes in operating assets and liabilities Current and other assets (147 ) — (147 ) Payables and other liabilities 464 1 465 Net cash provided (used) by operating activities 628 (16 ) 612 Cash flows from investing activities: Investments in equity method affiliates and debt and equity securities (16 ) (1 ) (17 ) Cash proceeds from dispositions 26 — 26 Cash (paid) received for acquisitions, net of cash acquired (131 ) — (131 ) Capital expended for property and equipment, including internal-use software and website development (55 ) — (55 ) Cash proceeds from foreign currency forward contracts 71 — 71 Other investing activities, net (14 ) — (14 ) Net cash provided (used) by investing activities (119 ) (1 ) (120 ) Cash flows from financing activities: Repayments of debt (11 ) — (11 ) Other financing activities, net 19 — 19 Net cash provided (used) by financing activities 8 — 8 Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 9 — 9 Net increase (decrease) in cash, cash equivalents and restricted cash 526 (17 ) 509 Cash, cash equivalents and restricted cash at beginning of period 2,638 325 2,963 Cash, cash equivalents and restricted cash at end of period $ 3,164 308 3,472 Cash and cash equivalents $ 3,140 308 3,448 Restricted cash included in other assets 24 — 24 Total cash, cash equivalents and restricted cash at end of period $ 3,164 308 3,472 Expand LIBERTY MEDIA CORPORATION STATEMENT OF CASH FLOWS INFORMATION Six months ended June 30, 2024 (unaudited) Attributed Formula Liberty Liberty One Live SiriusXM Consolidated Group Group Group Liberty amounts in millions Cash flows from operating activities: Net earnings (loss) $ 101 61 590 752 Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: Net (earnings) loss from discontinued operations — — (590 ) (590 ) Depreciation and amortization 175 — — 175 Stock-based compensation 18 2 — 20 Share of (earnings) loss of affiliates, net 5 (64 ) — (59 ) Realized and unrealized (gains) losses on financial instruments, net (47 ) (19 ) — (66 ) Deferred income tax expense (benefit) 2 13 — 15 Intergroup tax allocation (62 ) 3 — (59 ) Intergroup tax (payments) receipts 80 3 — 83 Other, net 5 (4 ) — 1 Changes in operating assets and liabilities Current and other assets (79 ) 2 — (77 ) Payables and other liabilities 203 (4 ) — 199 Net cash provided (used) by operating activities 401 (7 ) — 394 Cash flows from investing activities: Investments in equity method affiliates and debt and equity securities (1 ) — — (1 ) Cash proceeds from dispositions — 107 — 107 Cash (paid) received for acquisitions, net of cash acquired (205 ) — — (205 ) Capital expended for property and equipment, including internal-use software and website development (40 ) — — (40 ) Other investing activities, net (62 ) 1 — (61 ) Net cash provided (used) by investing activities (308 ) 108 — (200 ) Cash flows from financing activities: Borrowings of debt 10 — — 10 Repayments of debt (31 ) — — (31 ) Other financing activities, net 27 — — 27 Net cash provided (used) by financing activities 6 — — 6 Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (8 ) — — (8 ) Net cash provided (used) by discontinued operations: Cash provided (used) by operating activities — — 753 753 Cash provided (used) by investing activities — — (550 ) (550 ) Cash provided (used) by financing activities — — (314 ) (314 ) Net cash provided (used) by discontinued operations — — (111 ) (111 ) Net increase (decrease) in cash, cash equivalents and restricted cash 91 101 (111 ) 81 Cash, cash equivalents and restricted cash at beginning of period 1,408 305 315 2,028 Cash, cash equivalents and restricted cash at end of period $ 1,499 406 204 2,109 Cash and cash equivalents $ 1,491 406 188 2,085 Restricted cash included in other current assets 8 — — 8 Restricted cash included in current assets of discontinued operations — — 8 8 Restricted cash included in noncurrent assets of discontinued operations — — 8 8 Total cash, cash equivalents and restricted cash at end of period $ 1,499 406 204 2,109 Expand NON-GAAP FINANCIAL MEASURES AND SUPPLEMENTAL DISCLOSURES SCHEDULE 1 To provide investors with additional information regarding our financial results, this press release includes a presentation of Adjusted OIBDA, which is a non-GAAP financial measure, for Formula One Group, together with reconciliations to operating income, as determined under GAAP. Liberty Media defines Adjusted OIBDA as operating income (loss) plus depreciation and amortization, stock-based compensation, separately reported litigation settlements, Concorde incentive payments and restructuring, acquisition and impairment charges. Liberty Media believes Adjusted OIBDA is an important indicator of the operational strength and performance of its businesses by identifying those items that are not directly a reflection of each business' performance or indicative of ongoing business trends. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance. Because Adjusted OIBDA is used as a measure of operating performance, Liberty Media views operating income as the most directly comparable GAAP measure. Adjusted OIBDA is not meant to replace or supersede operating income or any other GAAP measure, but rather to supplement such GAAP measures in order to present investors with the same information that Liberty Media's management considers in assessing the results of operations and performance of its assets. The following table provides a reconciliation of Adjusted OIBDA for Liberty Media to operating income (loss) calculated in accordance with GAAP for the three and six months ended June 30, 2024 and June 30, 2025. ____________________ (a) Formula One Group incurred $11 million and $3 million of costs related to corporate acquisitions during the three months ended June 30, 2024 and June 30, 2025, respectively, and $20 million and $14 million of costs related to corporate acquisitions during the six months ended June 30, 2024 and June 30, 2025, respectively. Expand
Yahoo
02-08-2025
- Automotive
- Yahoo
Guggenheim raised the firm's PT on Formula One Group (FWONA), Kept a Buy Rating
Formula One Group (NASDAQ:FWONA) is one of the . On July 22, Guggenheim raised the firm's price target on Formula One Group (NASDAQ:FWONA) from $104 to $122, while keeping a Buy rating on the stock. The firm noted that it updated the model on Formula One Group (NASDAQ:FWONA) to include the company's acquisition of MotoGP. The company completed the acquisition of MotoGP on July 3. The firm noted that it sees continued momentum for the company heading into the second half of 2025. A team of championship drivers racing their Formula One cars around a track. Moreover, Formula One Group (NASDAQ:FWONA) announced some strategic advancements during its fiscal first quarter of 2025. The company renewed agreements for key Formula 1 events, including the Mexico Grand Prix through 2028 and the Miami Grand Prix through 2041. In addition, the company also secured new sponsorship partnerships with Barilla Pasta and PwC. Formula One Group (NASDAQ:FWONA) is part of the Liberty Media Corporation. The group includes global motorsport assets like Formula 1 and MotoGP, while the Liberty Live Group holds interests in live entertainment, including Live Nation and ticketing services. While we acknowledge the potential of FWONA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
02-08-2025
- Automotive
- Yahoo
‘I've seen F1 go from a man's world to women at the front of the queue'
When race promoter Ariane Frank-Meulenbelt took over the running of the Hungarian Grand Prix in 2012, Formula One was very much still a man's world. Now, she sees the demographic of both the fans and those who work in motorsport changing. 'It's getting younger. It's getting way more female. I watch the opening of the gates at every grand prix and the thing that really struck me last year was that the first people at the gate were young women,' she says. 'The noses pressed up to the gate were all women.' Having held its inaugural race in 1986, the Hungarian GP was the first and only grand prix to ever be held behind the Iron Curtain. Celebrating its 40th year in 2025, it remains one of the longest running and most popular on the F1 calendar The Formula One Group (FWONK) has an estimated market cap of £24bn, and posted revenue of $3.41bn (£2.54bn) for 2024, up 5.9% annually. How F1 became the family business Frank-Meulenbelt's own entry into the F1 scene started at the age of 14, when the family business – set up by her father, uncle and mother – took over the promotion rights for the Hungarian GP in 1994. 'My father's English was notoriously bad, so he started dragging me with him around the world to help him translate in meetings and in contracts. So I started very young in this business.' Now splitting her time between Budapest and Vienna, Frank-Meulenbelt – officially the vice-president for international relations at the Hungaroring motorsport circuit – spent a stint working for Red Bull in London before returning home to the Austrian capital in 2007 knowing that at some point she was likely to take over the family firm. However, tragedy struck in 2012 with the sudden death of her father and she unexpectedly had to step up and take his place – just weeks before that year's Hungarian GP and with her one-year-old son in tow. 'That was a shock to the system. We all heavily relied on him as a family and also as a business. I mean, he was very much the heart and soul of the F1 business, especially. It was seven weeks before the grand prix and there was no handover,' she recalls. Her father, Tamas Frank, was very much an 'old-style' businessman – 'he was very much relationships, two mobile phones and not much documentation' – so there was very little to work with. But cancelling the event was never in question and she had strong support from then F1 supremo Bernie Ecclestone. 'I remember Bernie calling me and saying, 'If you don't want to have the grand prix, let me know and we'll find a solution.' And that hadn't crossed my mind. It was clear we were going to carry on. And, you know, luckily it was a big team and a lot of them have been involved for many, many years, and we made it work.' Despite the tragic circumstances and ensuing challenges, the 2012 Hungarian GP did go ahead and was won by Lewis Hamilton. Not that she really remembers much; it was all an emotional blur. But the race went ahead and that's what mattered. F1 promoter in her own right Fast forward to 2025, and Frank-Meulenbelt has established herself as a race promoter in her own right. Last year alone, a record 300,000 spectators flocked to Budapest for the Hungarian Grand Prix, long deemed a classic on the F1 calendar. She also works closely with the Austrian GP, for which her company sells tickets. Meanwhile, at home, the toddler of 2012 is now a strapping teenager with a younger brother also in double digits. But while she at least had a year at home with her oldest child, the second time round was very different as she had little, if any maternity leave. 'He was in the office with me and I had a lot of help,' she explains. Read more: 'We were told being bald is bad — but our skincare gel hit 8,000 orders in one month' Indeed, Meulenbelt-Frank is the first to admit that juggling a successful career in motorsport with family life is a challenge – particularly with travelling frequently. 'I've got to be honest, it's hard. I can't say that I'm there for every school play or sports tournament. But I've got a very supportive husband and if I'm not there, he is.' They do carve out time as a family wherever possible, though, and the Hungarian GP still sees all family hands on deck. Her older son even had a small role at the 2024 event – just as she had started out with her father. 'That was a full circle moment for me,' she says. Her proudest professional moment, undoubtedly, is helping get Formula One back on the road through COVID, when many teams looked set to fail without sponsorship money. After the start of the 2020 season was cancelled, it came back to life behind closed doors – first in Austria, which held two races, and then Hungary, over three consecutive weekends in July. When first asked whether she could imagine holding a closed-door event in seven weeks' time, Meulenbelt-Frank thought 'have you lost it?'. 'But within about half an hour, we thought let's try and get together with our friends in Austria. We knew that we were going to find a way to get the sport back on the road.' Read more: A naval officer's submarine saga inspired me to become a leader 'Those seven weeks were like reinventing the wheel. Nobody knew how you put on an event with so few people, borders shut and at the height of COVID and testing. But we managed to pull off three successful events between us and that's what got F1 on the road and then other sports like football followed.' After over a decade managing the event herself, such achievements are very much her own. 'I've never thought of myself as 'oh, it's weird because I'm a woman'. For me, it was always strange because I was a daughter. I always thought, I wonder if they're still looking at me as a 14-year-old, or whether they're taking me seriously. 'And that's taken quite a lot of time to say, actually, I'm now known for my own achievements – you know, keeping the business going in COVID and growing the business, making new contracts and seeing the ticket sales for the Hungarian Grand Prix skyrocket. These are achievements I have to credit to myself; there's nobody else around to credit them to.' Times have definitely changed since Frank-Meulenbelt joined the top table in motorsport. Whereas once women in the sport tended to be hospitality and 'grid girls', they are now far more present at every level – from the C-suite down to the fans. Read more: I ditched waking up before 5am every day to grow my luxury bedding brand Much of this reflects wider societal changes, but it is also in large part down to Liberty Media's 2017 takeover of F1, which has seen the sport modernise its business model, expand its global reach and grow its fanbase. Under Liberty's leadership, F1 has also zoomed onto the screens of millions thanks to Netflix series Drive To Survive and thanks to the recently-released F1: The Movie, part of which was filmed at the Hungaroring. 'We'll see whether it's too much for the casual fan, but I think it'll give it the next big push,' she observes. 'The racing scenes are incredible.' As for the young women at the Hungaroring gates who may, one day, want to enter the F1 business… 'I think it's a great thing. And If they think I'm paving the way for them, that's great too.'Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-08-2025
- Automotive
- Yahoo
‘I've seen F1 go from a man's world to women at the front of the queue'
When race promoter Ariane Frank-Meulenbelt took over the running of the Hungarian Grand Prix in 2012, Formula One was very much still a man's world. Now, she sees the demographic of both the fans and those who work in motorsport changing. 'It's getting younger. It's getting way more female. I watch the opening of the gates at every grand prix and the thing that really struck me last year was that the first people at the gate were young women,' she says. 'The noses pressed up to the gate were all women.' Having held its inaugural race in 1986, the Hungarian GP was the first and only grand prix to ever be held behind the Iron Curtain. Celebrating its 40th year in 2025, it remains one of the longest running and most popular on the F1 calendar The Formula One Group (FWONK) has an estimated market cap of £24bn, and posted revenue of $3.41bn (£2.54bn) for 2024, up 5.9% annually. How F1 became the family business Frank-Meulenbelt's own entry into the F1 scene started at the age of 14, when the family business – set up by her father, uncle and mother – took over the promotion rights for the Hungarian GP in 1994. 'My father's English was notoriously bad, so he started dragging me with him around the world to help him translate in meetings and in contracts. So I started very young in this business.' Now splitting her time between Budapest and Vienna, Frank-Meulenbelt – officially the vice-president for international relations at the Hungaroring motorsport circuit – spent a stint working for Red Bull in London before returning home to the Austrian capital in 2007 knowing that at some point she was likely to take over the family firm. However, tragedy struck in 2012 with the sudden death of her father and she unexpectedly had to step up and take his place – just weeks before that year's Hungarian GP and with her one-year-old son in tow. 'That was a shock to the system. We all heavily relied on him as a family and also as a business. I mean, he was very much the heart and soul of the F1 business, especially. It was seven weeks before the grand prix and there was no handover,' she recalls. Her father, Tamas Frank, was very much an 'old-style' businessman – 'he was very much relationships, two mobile phones and not much documentation' – so there was very little to work with. But cancelling the event was never in question and she had strong support from then F1 supremo Bernie Ecclestone. 'I remember Bernie calling me and saying, 'If you don't want to have the grand prix, let me know and we'll find a solution.' And that hadn't crossed my mind. It was clear we were going to carry on. And, you know, luckily it was a big team and a lot of them have been involved for many, many years, and we made it work.' Despite the tragic circumstances and ensuing challenges, the 2012 Hungarian GP did go ahead and was won by Lewis Hamilton. Not that she really remembers much; it was all an emotional blur. But the race went ahead and that's what mattered. F1 promoter in her own right Fast forward to 2025, and Frank-Meulenbelt has established herself as a race promoter in her own right. Last year alone, a record 300,000 spectators flocked to Budapest for the Hungarian Grand Prix, long deemed a classic on the F1 calendar. She also works closely with the Austrian GP, for which her company sells tickets. Meanwhile, at home, the toddler of 2012 is now a strapping teenager with a younger brother also in double digits. But while she at least had a year at home with her oldest child, the second time round was very different as she had little, if any maternity leave. 'He was in the office with me and I had a lot of help,' she explains. Read more: 'We were told being bald is bad — but our skincare gel hit 8,000 orders in one month' Indeed, Meulenbelt-Frank is the first to admit that juggling a successful career in motorsport with family life is a challenge – particularly with travelling frequently. 'I've got to be honest, it's hard. I can't say that I'm there for every school play or sports tournament. But I've got a very supportive husband and if I'm not there, he is.' They do carve out time as a family wherever possible, though, and the Hungarian GP still sees all family hands on deck. Her older son even had a small role at the 2024 event – just as she had started out with her father. 'That was a full circle moment for me,' she says. Her proudest professional moment, undoubtedly, is helping get Formula One back on the road through COVID, when many teams looked set to fail without sponsorship money. After the start of the 2020 season was cancelled, it came back to life behind closed doors – first in Austria, which held two races, and then Hungary, over three consecutive weekends in July. When first asked whether she could imagine holding a closed-door event in seven weeks' time, Meulenbelt-Frank thought 'have you lost it?'. 'But within about half an hour, we thought let's try and get together with our friends in Austria. We knew that we were going to find a way to get the sport back on the road.' Read more: A naval officer's submarine saga inspired me to become a leader 'Those seven weeks were like reinventing the wheel. Nobody knew how you put on an event with so few people, borders shut and at the height of COVID and testing. But we managed to pull off three successful events between us and that's what got F1 on the road and then other sports like football followed.' After over a decade managing the event herself, such achievements are very much her own. 'I've never thought of myself as 'oh, it's weird because I'm a woman'. For me, it was always strange because I was a daughter. I always thought, I wonder if they're still looking at me as a 14-year-old, or whether they're taking me seriously. 'And that's taken quite a lot of time to say, actually, I'm now known for my own achievements – you know, keeping the business going in COVID and growing the business, making new contracts and seeing the ticket sales for the Hungarian Grand Prix skyrocket. These are achievements I have to credit to myself; there's nobody else around to credit them to.' Times have definitely changed since Frank-Meulenbelt joined the top table in motorsport. Whereas once women in the sport tended to be hospitality and 'grid girls', they are now far more present at every level – from the C-suite down to the fans. Read more: I ditched waking up before 5am every day to grow my luxury bedding brand Much of this reflects wider societal changes, but it is also in large part down to Liberty Media's 2017 takeover of F1, which has seen the sport modernise its business model, expand its global reach and grow its fanbase. Under Liberty's leadership, F1 has also zoomed onto the screens of millions thanks to Netflix series Drive To Survive and thanks to the recently-released F1: The Movie, part of which was filmed at the Hungaroring. 'We'll see whether it's too much for the casual fan, but I think it'll give it the next big push,' she observes. 'The racing scenes are incredible.' As for the young women at the Hungaroring gates who may, one day, want to enter the F1 business… 'I think it's a great thing. And If they think I'm paving the way for them, that's great too.'Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
