Drive to Thrive: F1's money-making formula

The third race of the 2024 F1 Championship takes place this weekend – with 20 drivers, across 10 teams, competing for Australia’s Sir Jack Brabham Trophy.

Because, contrary to what people might think, the F1 doesn’t pay to use a track in the hope it will recoup that through ticket sales. It’s pretty much the other way around. They took a hit in 2020 due to the impact of the pandemic – but bounced back after that and have grown rapidly since then. This documentary series has incredible access to the teams and drivers involved. It means viewers get to see the highlights of high speed racing with lots of money on the line, and plenty of big egos at play.Drive to Survive launched its sixth series last month in advance of the 2024 race season.

Though it’s not quite that straight-forward – because certain teams get an extra payment based on their legacy. The exact value of the sponsorship differs depending on the team – the more successful ones can command more – and on the sponsorship ‘tier’. And that applies in a different way with the likes of Mercedes and Ferrari – because their car brands benefit from the association with F1.

But even those huge figures don’t really tell the whole picture – because there’s a huge amount invested in research and development before the car is ever made. And, as your placement in the table can make millions of dollars of difference in terms to a team, spending hundreds of thousands of dollars for the right staff makes sense.

And to back that up there’s also a huge amount of electrical equipment shipped in so they can track everything that’s going on on the track and keep in radio contact with members of the team. And that has to be done rapidly – because some races might only be a week apart, and teams want to have everything set up by the Thursday before the race weekend at the latest.

Teams also have multiple ‘kits’, which all contain the same non-critical equipment like furniture, utensils and so on.

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Drive to subscribe: Irish firm hopes to get motorists to rent EVs by the monthClaiming to be an Irish first, DCEV's subscription service lets you swap your EV car after 30 days
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

Five things we learned from the GAA weekend: Limerick’s drive for five gaining steam alreadyThe Kilkenny comparisons fall short; Waterford will see a drop on the double; is Johnny Glynn the answer for Galway?
Source: IrishTimesSport - 🏆 2. / 99 Read more »

Our Test Drive: Smart #1 BrabusSmart returns with the uniquely named 1, the Brabus edition, but is its styling enough to make it stand out in the electric car field? We put it to the test.
Source: IrishTimes - 🏆 3. / 98 Read more »

Paul Mescal and Ayo Edebiri drive fans wild with St Patrick's Day picAre Paul Mescal and Ayo Edebiri together? Fans think so after they spent St Patrick's Day together and Paul said he would love to film a rom-com with The Bear actress
Source: IrishMirror - 🏆 4. / 98 Read more »

Rovers' Drive for Five helped by late Kenny goal breaking Galway deadlockJohn Caulfield’s side six minutes away from earning a share of the spoils.
Source: The42_ie - 🏆 5. / 86 Read more »

’Drive-Away Dolls’ runs low on laughs and fuelJamie (Margaret Qualley) regrets her breakup with her girlfriend (Beanie Feldstein), while Marian (Geraldine Viswanathan) needs to relax. In search of a fresh s...
Source: entertainmentIE - 🏆 23. / 51 Read more »