Formula One Group is the commercial rights holder for the FIA Formula One World Championship, the pinnacle of international motorsport. The origins of Formula One trace back to 1950, when the first official World Championship race was held at Silverstone Circuit in the United Kingdom. Over the decades, the sport has evolved from a European-centric competition into a global phenomenon, attracting millions of fans worldwide. The Group's transformation into a commercial powerhouse began in the 1970s under the leadership of Bernie Ecclestone, who centralized the sport's commercial rights and expanded its global reach. In 2017, Liberty Media acquired Formula One Group, ushering in a new era focused on digital engagement and fan experience.
Headquartered in London, Formula One Group operates globally, organizing and promoting the annual Formula One World Championship series, which spans multiple continents and features races in diverse locations. The Group's responsibilities include negotiating race hosting agreements, managing broadcasting rights, and overseeing sponsorship deals. Its portfolio encompasses various entities, such as Formula One Management and Formula One Licensing, which handle different aspects of the sport's commercial operations.
The Group's business model is multifaceted, generating revenue through several streams. These include race promotion fees paid by host countries, broadcasting rights sold to television networks and streaming platforms, sponsorship and advertising partnerships, and merchandising. In recent years, Formula One has embraced digital platforms to enhance fan engagement, launching initiatives like F1 TV and expanding its social media presence. These efforts aim to attract a younger, more diverse audience and provide fans with more interactive and personalized experiences.