Source:REUTERS/JAKUB PORZYCKI
[Saba Sports News] According to an F1 reporter, the movie F1: Fast & Furious not only achieved box office success but also helped Formula One Group achieve revenue of over $1 billion in the second quarter, a 40% increase year-on-year, setting a record for the highest growth. F1: Fast & Furious is a racing film that tells a classic underdog story. It follows a Formula 1 driver who rose to prominence in the 1990s, whose career almost ended due to an accident. Thirty years later, he is invited to join a former teammate’s struggling F1 team to save the team and reclaim its place at the top of the world. To date, the movie has grossed over 550 million worldwide. The F1 IP itself has extremely high popularity and is one of the most commercially successful annual sports series globally. F1 is entering the entertainment industry in multiple ways. People are willing to watch highlights of races on various social media platforms. The huge traffic and buzz have attracted more partners and advertisers for this expensive sport. According to the latest report, after the movie’s release, Formula One Group under Liberty Media reached 1 billion in revenue for the second quarter, up 40% year-on-year. The group’s executives also quantified the movie’s contribution to revenue, stating it was between 13-19%. In addition, the movie’s success also boosted the subscription numbers for F1-themed TV series.