Formula 1's next phase of growth will likely come from further monetizing its races, rather than adding more of them, TD Cowen analysts say in a note after meeting with executives from F1 and its parent company, Liberty Media. F1 sees consumer products and licensing as a big long-term opportunity, with plans to move toward broader brand partnerships, the analysts say. F1 is also working to have a more sophisticated hospitality model, focusing on product segmentation, premium experiences, dynamic pricing and higher utilization of its existing assets, the analysts say. Management also sees opportunities to drive higher spend per guests through differentiated offerings at key races and year-round venues such as Las Vegas, they say.
(kelly.cloonan@wsj.com)