1 00:00:00,280 --> 00:00:03,400 Speaker 1: This is the business of sports. Let's talk Super Bowl 2 00:00:03,560 --> 00:00:07,120 Speaker 1: and Fox Sports guarantee money isn't necessarily guaranteed. One Major 3 00:00:07,200 --> 00:00:10,959 Speaker 1: League soccer runner is leading out fifty million dollar investment, 4 00:00:11,160 --> 00:00:14,200 Speaker 1: blurring of the lines between sports team owners and the 5 00:00:14,200 --> 00:00:18,599 Speaker 1: sports gambling space. How high can these valuations go? Evan 6 00:00:18,960 --> 00:00:21,200 Speaker 1: william Off the field, the NBA has never been buzzier, 7 00:00:21,320 --> 00:00:24,000 Speaker 1: and the leaders in the sports industry, Major League Baseball 8 00:00:24,000 --> 00:00:26,960 Speaker 1: Commission to Rob Manfred Idy O'Neill is President of Director 9 00:00:27,000 --> 00:00:30,440 Speaker 1: Consumer and that then the race card driver Helio Castron, Evs, 10 00:00:30,600 --> 00:00:34,120 Speaker 1: Jared Smith, president of Ticketmasters. Bloomberg Business of Sports from 11 00:00:34,159 --> 00:00:37,800 Speaker 1: Bloomberg Radio. Hello, I'm Michael barn and I'm Jason Kelly, 12 00:00:37,880 --> 00:00:40,520 Speaker 1: and I'm Evan Novie Williams. Every week at this time, 13 00:00:40,520 --> 00:00:43,640 Speaker 1: plus Mondays and Wednesdays, we explore the big money issues 14 00:00:43,640 --> 00:00:46,120 Speaker 1: in the world of sports. Today we sit down with 15 00:00:46,240 --> 00:00:50,240 Speaker 1: Jamie Regal, CEO of Formula the all of that Trip 16 00:00:50,360 --> 00:00:53,680 Speaker 1: Motor Championship. That is straight ahead on the Bloomberg Business 17 00:00:53,680 --> 00:00:56,120 Speaker 1: of Sports show. But first let's look at some of 18 00:00:56,160 --> 00:00:59,800 Speaker 1: the top stories for the week. And hey, fellas week 19 00:01:00,000 --> 00:01:04,560 Speaker 1: and to have some baseball, maybe let's cross our fingers. Yeah, guys, 20 00:01:04,600 --> 00:01:07,160 Speaker 1: I think we're gonna talk more about, you know, more 21 00:01:06,959 --> 00:01:09,679 Speaker 1: all these sports next week. But we're starting to kind 22 00:01:09,680 --> 00:01:11,600 Speaker 1: of see the ice thaw, I think a little bit 23 00:01:11,959 --> 00:01:15,279 Speaker 1: in in major professional sports, major League Baseball. As you said, Michael, 24 00:01:15,319 --> 00:01:18,320 Speaker 1: it sounds like it is preparing to send a document 25 00:01:18,360 --> 00:01:21,800 Speaker 1: to the union essentially saying here's what we think it 26 00:01:21,800 --> 00:01:24,160 Speaker 1: could look like to restart. They're not the only ones 27 00:01:24,200 --> 00:01:26,959 Speaker 1: preparing those documents, Jason. I think we may be getting 28 00:01:26,959 --> 00:01:29,080 Speaker 1: a little bit closer to maybe a little more clarity 29 00:01:29,120 --> 00:01:32,039 Speaker 1: about how these leagues may want to move forward later 30 00:01:32,080 --> 00:01:34,959 Speaker 1: in the summer. Well, and I think the key phrase 31 00:01:35,000 --> 00:01:37,480 Speaker 1: there is may want to I mean, what it actually 32 00:01:37,560 --> 00:01:39,600 Speaker 1: turns out to be. I think it's still very much 33 00:01:39,640 --> 00:01:42,360 Speaker 1: up in the air, you know. Reading into this story, 34 00:01:42,560 --> 00:01:48,080 Speaker 1: I really felt like, Okay, empty stadiums, check, but home 35 00:01:48,160 --> 00:01:54,120 Speaker 1: stadiums and teams traveling and thirty teams like your your 36 00:01:54,120 --> 00:01:56,600 Speaker 1: head starts to spend a little bit just given maybe 37 00:01:56,640 --> 00:01:59,600 Speaker 1: we're in this lockdown mode. I have some big questions 38 00:01:59,600 --> 00:02:02,680 Speaker 1: in a little skepticism here. I have to confess, Michael, 39 00:02:02,720 --> 00:02:04,280 Speaker 1: is there a part of you that, when you read, 40 00:02:04,360 --> 00:02:07,440 Speaker 1: you know, stories like this, thinks Okay, you know, I'm 41 00:02:07,480 --> 00:02:10,920 Speaker 1: excited about about the possibility that that that maybe we 42 00:02:11,000 --> 00:02:13,800 Speaker 1: may be getting closer. I'm excited, but then I after 43 00:02:13,840 --> 00:02:17,240 Speaker 1: throw some water on myself because of what some of 44 00:02:17,280 --> 00:02:20,400 Speaker 1: the Cleveland Indian players said. They were doing a video 45 00:02:20,440 --> 00:02:25,079 Speaker 1: conference and call about this, and one of the players asked, well, 46 00:02:25,080 --> 00:02:27,720 Speaker 1: what happens if we come back and a player test positive? 47 00:02:28,040 --> 00:02:31,480 Speaker 1: And that's the million dollar question if if that happens, 48 00:02:31,520 --> 00:02:33,880 Speaker 1: do we shut everything down or where does it go? 49 00:02:34,520 --> 00:02:36,920 Speaker 1: Without question? And we'll get a sense of how, you know, 50 00:02:36,960 --> 00:02:39,400 Speaker 1: where the players feel about this when the union gets 51 00:02:39,400 --> 00:02:41,320 Speaker 1: a chance to look at this proposal and you know, 52 00:02:41,400 --> 00:02:44,800 Speaker 1: kind of negotiate it with Major League Baseball, which is again, 53 00:02:44,960 --> 00:02:47,000 Speaker 1: you know, the player's voice is not something we've heard 54 00:02:47,040 --> 00:02:49,280 Speaker 1: all that much. So I'm kind of excited to hear 55 00:02:49,560 --> 00:02:51,919 Speaker 1: where a Major League Baseball union falls when this, when 56 00:02:51,960 --> 00:02:54,040 Speaker 1: this plan comes out. So Evan, I do want to 57 00:02:54,080 --> 00:02:56,720 Speaker 1: add one more thing to this, which is, you know, 58 00:02:56,840 --> 00:03:00,359 Speaker 1: squaring this plan with what we heard from obviously a 59 00:03:00,440 --> 00:03:03,520 Speaker 1: much smaller league in Premier lacrosse league this week from 60 00:03:03,560 --> 00:03:06,079 Speaker 1: Paul Rabele. He was actually on our Bloomberg Business Week 61 00:03:06,160 --> 00:03:08,280 Speaker 1: show and walked us through it you can see that 62 00:03:08,400 --> 00:03:11,720 Speaker 1: on our podcast. But in any case, uh, you know, 63 00:03:11,760 --> 00:03:15,640 Speaker 1: one of the things they're going through is unbelievably extensive testing, 64 00:03:16,080 --> 00:03:21,200 Speaker 1: a quarantined two week tournament, I mean extreme medical measures, 65 00:03:21,440 --> 00:03:24,280 Speaker 1: and I'm just trying to figure out, like I guess 66 00:03:24,320 --> 00:03:31,679 Speaker 1: the model is somewhere in between, but I'm I'm remain befuddled. Agreed, Well, 67 00:03:31,880 --> 00:03:34,120 Speaker 1: it's it's something you said, Jason, and you're right, And 68 00:03:34,280 --> 00:03:38,360 Speaker 1: I'm sure Paul and and Mike gave this speech to 69 00:03:38,680 --> 00:03:42,800 Speaker 1: every team member on in lacrosse, and I'm sure Major 70 00:03:42,840 --> 00:03:45,240 Speaker 1: League Baseball is going to do it too. All it's 71 00:03:45,240 --> 00:03:48,960 Speaker 1: gonna take is one knucklehead to to go out and 72 00:03:49,200 --> 00:03:52,000 Speaker 1: I'm gonna go party and then get this virus and 73 00:03:52,040 --> 00:03:54,760 Speaker 1: then the whole thing is shut down. There's way more 74 00:03:54,840 --> 00:03:58,480 Speaker 1: now than just I gotta go sneak off and go party. 75 00:03:58,560 --> 00:04:02,560 Speaker 1: It's like, this is rick stuff. You gotta stay with it. Uh, 76 00:04:02,760 --> 00:04:07,920 Speaker 1: Next up, Peloton. I remember when this first came out 77 00:04:08,040 --> 00:04:12,240 Speaker 1: with Peloton and they had these expensive stationary bikes and 78 00:04:12,280 --> 00:04:14,200 Speaker 1: the critics were like, now, who in the world is 79 00:04:14,200 --> 00:04:17,840 Speaker 1: going to pay for this bike? And then the video 80 00:04:18,400 --> 00:04:22,599 Speaker 1: conferencing part of it where you exercise, well, Peloton is 81 00:04:22,600 --> 00:04:26,120 Speaker 1: now saying be ha ha ha, because they have had 82 00:04:26,200 --> 00:04:31,040 Speaker 1: a quarterly revenue that soared sixties six percent and the 83 00:04:31,080 --> 00:04:36,120 Speaker 1: digital subscribers jump sixty and part of that is because, 84 00:04:36,160 --> 00:04:38,080 Speaker 1: well a lot of it is because a lot of 85 00:04:38,120 --> 00:04:41,400 Speaker 1: people are inside because of the coronavirus. Even yeah, I 86 00:04:41,440 --> 00:04:44,039 Speaker 1: want Jason away and kind of immediately on this, since Jason, 87 00:04:44,080 --> 00:04:46,359 Speaker 1: you literally wrote the book on the twenty one century 88 00:04:46,720 --> 00:04:51,280 Speaker 1: fitness industry. Um, obviously things are good for Peloton right now. 89 00:04:51,320 --> 00:04:53,400 Speaker 1: I guess the big question, correct me if I'm wrong, 90 00:04:53,520 --> 00:04:57,600 Speaker 1: is does this sustain itself once people start going back outside. 91 00:04:57,800 --> 00:04:59,960 Speaker 1: I absolutely think that is the big question. I mean, 92 00:05:00,040 --> 00:05:03,279 Speaker 1: the good news for them is once you have a 93 00:05:03,320 --> 00:05:05,200 Speaker 1: bike in your home, and I confess I have a 94 00:05:05,200 --> 00:05:08,560 Speaker 1: bike in my home, you're not going to send it back. I. 95 00:05:08,839 --> 00:05:11,360 Speaker 1: You may use it a little bit less, but it's 96 00:05:11,360 --> 00:05:13,240 Speaker 1: a hassle to sort of get it out of there. 97 00:05:13,440 --> 00:05:16,240 Speaker 1: And what we've also seen is a high level of, 98 00:05:16,279 --> 00:05:18,960 Speaker 1: as they say in the business, sort of stickiness. From 99 00:05:19,000 --> 00:05:22,719 Speaker 1: a business perspective, hopefully you're wiping your bike down, but um, 100 00:05:22,760 --> 00:05:25,640 Speaker 1: you know, this is a situation where once you're in 101 00:05:25,760 --> 00:05:29,640 Speaker 1: this community, people are really into it. Peloton was in 102 00:05:29,640 --> 00:05:31,760 Speaker 1: the right place at the right time in many ways 103 00:05:31,760 --> 00:05:37,080 Speaker 1: they anticipated this trend. Certainly, they didn't anticipate a pandemic. 104 00:05:37,279 --> 00:05:39,120 Speaker 1: They also have a head start. They have a head 105 00:05:39,160 --> 00:05:41,919 Speaker 1: start on Equinox, which is coming out with a soul 106 00:05:42,000 --> 00:05:45,680 Speaker 1: Cycle at home bike just now. So there are some 107 00:05:45,720 --> 00:05:48,200 Speaker 1: smaller players like Mixed Fitness who are going after this 108 00:05:48,240 --> 00:05:51,520 Speaker 1: space as well, But Peloton really has it more or 109 00:05:51,600 --> 00:05:54,520 Speaker 1: less all to themselves, and the market for better worse 110 00:05:54,560 --> 00:05:56,640 Speaker 1: has really come to them. I was gonna ask you 111 00:05:56,680 --> 00:06:00,159 Speaker 1: actually about soul Cycle kind of specifically. I'm sure you 112 00:06:00,160 --> 00:06:04,560 Speaker 1: know the big popular gyms that you know make money, 113 00:06:04,600 --> 00:06:07,360 Speaker 1: there's most of their money on in person classes are 114 00:06:07,400 --> 00:06:10,120 Speaker 1: struggling a lot right now. Do you think we start 115 00:06:10,160 --> 00:06:11,760 Speaker 1: to but but they have brand equity. Do you think 116 00:06:11,760 --> 00:06:14,280 Speaker 1: we're gonna start to see a bigger pivot from from 117 00:06:14,279 --> 00:06:18,359 Speaker 1: those companies towards maybe more at home measures. Absolutely, and 118 00:06:18,400 --> 00:06:20,640 Speaker 1: I think Equinox is the one to watch here for sure. 119 00:06:20,680 --> 00:06:22,440 Speaker 1: You know, well known to those of us here on 120 00:06:22,480 --> 00:06:25,200 Speaker 1: the coast. It's a high end gym. They've come out 121 00:06:25,279 --> 00:06:28,160 Speaker 1: with a new app. It's pretty slick. I've tried it out. 122 00:06:28,160 --> 00:06:30,600 Speaker 1: It's called Varius and It's definitely meant to be a 123 00:06:30,640 --> 00:06:36,280 Speaker 1: compliment to the in studio in gym approach and equinoxes 124 00:06:36,360 --> 00:06:39,440 Speaker 1: you know, own soul Cycle, they own a yoga brand, 125 00:06:39,520 --> 00:06:41,599 Speaker 1: and they own a meditation brand and a running brand 126 00:06:41,680 --> 00:06:45,440 Speaker 1: as well. So this sort of platform of it's almost 127 00:06:45,760 --> 00:06:49,400 Speaker 1: one uh entrepreneur in this space. Actually, the president Mixed 128 00:06:49,440 --> 00:06:51,400 Speaker 1: Fitness said, you know, you have to take sort of 129 00:06:51,400 --> 00:06:54,320 Speaker 1: an omni channel approach. You have to figure out, especially 130 00:06:54,320 --> 00:06:56,800 Speaker 1: when we get to the next normal, whatever that is. 131 00:06:57,080 --> 00:06:59,000 Speaker 1: People may want to go to the gym, sometimes they 132 00:06:59,000 --> 00:07:00,920 Speaker 1: may be at home. Sometimes is you got to sort 133 00:07:00,920 --> 00:07:03,039 Speaker 1: of get them where they live and where they work. 134 00:07:03,480 --> 00:07:06,240 Speaker 1: And so the benefit, as it often is, is going 135 00:07:06,279 --> 00:07:08,520 Speaker 1: to be to the big brands who can have a 136 00:07:08,520 --> 00:07:12,640 Speaker 1: bigger offering. I certainly wouldn't count Equinox out here. Michael. 137 00:07:12,680 --> 00:07:14,760 Speaker 1: You're kind of the you're often the everyman when we 138 00:07:14,760 --> 00:07:17,360 Speaker 1: talk about media. What are you doing to stay fit? 139 00:07:17,400 --> 00:07:20,240 Speaker 1: To do things like this appeal to you in any way? 140 00:07:20,320 --> 00:07:24,880 Speaker 1: Or no? I would, I'm sorry, Peloton, I would. I 141 00:07:25,160 --> 00:07:28,119 Speaker 1: do have a stationary bike, but it's from the land 142 00:07:28,160 --> 00:07:32,960 Speaker 1: of the craftsman stationary bikes. It's it's not a pricing bike. 143 00:07:33,080 --> 00:07:35,080 Speaker 1: It it is a state, and I get exactly what 144 00:07:35,160 --> 00:07:37,560 Speaker 1: you were saying Jason earlier is like, yeah, you go 145 00:07:37,640 --> 00:07:39,840 Speaker 1: to the gym, you gotta wipe the thing down, is 146 00:07:39,920 --> 00:07:42,840 Speaker 1: like who left one on this whatever? But when you 147 00:07:42,880 --> 00:07:45,080 Speaker 1: have your own bike you can do that. But the 148 00:07:45,080 --> 00:07:48,920 Speaker 1: thing about Peloton which is great is that you can 149 00:07:48,960 --> 00:07:54,040 Speaker 1: exercise along with going online with the exercise service. That 150 00:07:54,040 --> 00:07:56,480 Speaker 1: that's the huge thing about Peloton. And I got to, 151 00:07:57,440 --> 00:08:00,280 Speaker 1: you know, really tip my hat to that. It's but 152 00:08:00,760 --> 00:08:03,840 Speaker 1: you know, it's you know, they're doing very well. If 153 00:08:03,880 --> 00:08:08,200 Speaker 1: five hundred twenty four point six million dollars in sales 154 00:08:09,000 --> 00:08:12,280 Speaker 1: and it grew to over eight d eighties six thousand 155 00:08:12,320 --> 00:08:17,080 Speaker 1: connected fitness subscribers, so that easily beat the analysts estimates. 156 00:08:17,320 --> 00:08:19,040 Speaker 1: And not for nothing, Evan, But I mean, this is 157 00:08:19,080 --> 00:08:21,560 Speaker 1: a situation where this company may end up with a 158 00:08:21,600 --> 00:08:24,040 Speaker 1: profit this year. They had predicted they were going to 159 00:08:24,080 --> 00:08:25,880 Speaker 1: have a loss. I mean, that's how big this has 160 00:08:25,920 --> 00:08:28,880 Speaker 1: been for them. And by the numbers, just going back 161 00:08:28,920 --> 00:08:32,520 Speaker 1: to one thing, one class alone, a couple of weeks ago, 162 00:08:33,440 --> 00:08:36,200 Speaker 1: the instructor was at home, Robin Arizon. She's the head instructor. 163 00:08:36,440 --> 00:08:42,080 Speaker 1: Twenty three thousand people at one time jeez. So there 164 00:08:42,080 --> 00:08:45,080 Speaker 1: you go. That's a community. I tell you who is 165 00:08:45,080 --> 00:08:49,680 Speaker 1: a community on his own. The Mountain, uh if you 166 00:08:49,760 --> 00:08:51,840 Speaker 1: if you haven't the he was the actor that was 167 00:08:51,880 --> 00:08:54,840 Speaker 1: in Game of Thrones, he played the Mountain. Now he 168 00:08:55,120 --> 00:08:59,760 Speaker 1: just sent the record for deadlifting over eleven hundred pounds 169 00:09:00,240 --> 00:09:03,120 Speaker 1: in his gym in Iceland, and now he's going to 170 00:09:03,240 --> 00:09:06,800 Speaker 1: face the guy who used to hold that record, Eddie Hall, 171 00:09:06,920 --> 00:09:11,640 Speaker 1: in a boxing match in Yeah. I mean, the details 172 00:09:11,640 --> 00:09:13,400 Speaker 1: are kind of exactly what you just said, that there's 173 00:09:13,400 --> 00:09:16,079 Speaker 1: a rivalry here in the dead lifting community between these 174 00:09:16,120 --> 00:09:19,280 Speaker 1: two guys um who apparently don't like each other, and 175 00:09:19,320 --> 00:09:22,800 Speaker 1: that has spilled over into a seven figure fight deal 176 00:09:23,200 --> 00:09:25,240 Speaker 1: for the two of them to box box next year 177 00:09:25,600 --> 00:09:28,400 Speaker 1: in Las Vegas. The reason I want to talk about 178 00:09:28,440 --> 00:09:30,840 Speaker 1: this is because you know, I view this kind of 179 00:09:30,840 --> 00:09:34,560 Speaker 1: through the same lens that I view what Phil Nicholson 180 00:09:34,559 --> 00:09:36,560 Speaker 1: and Tiger Woods are doing right now, kind of going 181 00:09:36,600 --> 00:09:40,320 Speaker 1: outside of maybe the more traditional aspects of their sports. 182 00:09:40,720 --> 00:09:42,560 Speaker 1: You know, boxing is another one of those sports that 183 00:09:42,640 --> 00:09:44,920 Speaker 1: lends itself very well to this kind of one on 184 00:09:44,920 --> 00:09:48,120 Speaker 1: one You don't have to be you know, Floyd Mayweather 185 00:09:48,240 --> 00:09:50,679 Speaker 1: or many pakiow as long as you're fighting someone who 186 00:09:50,760 --> 00:09:53,000 Speaker 1: wants to fight you and is maybe on your on 187 00:09:53,080 --> 00:09:55,800 Speaker 1: your level. I think there is there is a future 188 00:09:55,960 --> 00:09:58,679 Speaker 1: in in kind of sports and and maybe this pandemic 189 00:09:58,720 --> 00:10:01,760 Speaker 1: is gonna end up accelerate eating it in which you know, 190 00:10:01,920 --> 00:10:05,280 Speaker 1: the the the event company that pays for a one 191 00:10:05,320 --> 00:10:08,600 Speaker 1: off event between two people outside of kind of traditional 192 00:10:08,679 --> 00:10:11,600 Speaker 1: means uh, maybe has a future there. Jason, I'm curious 193 00:10:11,600 --> 00:10:13,800 Speaker 1: if you agree. I think it's totally true. We were 194 00:10:13,800 --> 00:10:16,840 Speaker 1: talking about this with our producer Charlie Vollmer ahead of 195 00:10:16,880 --> 00:10:20,520 Speaker 1: this show, and he disagreed with with my assessment at 196 00:10:20,559 --> 00:10:23,000 Speaker 1: least that this felt like a gimmick. And my retort 197 00:10:23,080 --> 00:10:25,520 Speaker 1: him was, it's not not a gimmick in some ways, 198 00:10:25,559 --> 00:10:28,640 Speaker 1: which I think it's fair. Um. You know, at Bloomberg 199 00:10:28,720 --> 00:10:32,000 Speaker 1: we love the superlatives. It's the heaviest boxing match in history, 200 00:10:32,080 --> 00:10:37,000 Speaker 1: or would be four pounds on two pounds woa, as 201 00:10:37,080 --> 00:10:41,319 Speaker 1: Carol Master would say, Um, I do think this could 202 00:10:41,320 --> 00:10:44,960 Speaker 1: be I mean the future, especially when we think about 203 00:10:45,000 --> 00:10:47,959 Speaker 1: these one off things. Also the power of social media, 204 00:10:48,080 --> 00:10:51,400 Speaker 1: the power of brand and the ability for people to 205 00:10:51,480 --> 00:10:56,439 Speaker 1: really generate a huge amount of interest and the upside 206 00:10:56,480 --> 00:10:59,360 Speaker 1: is huge. I think here Yeah, this is we should 207 00:10:59,400 --> 00:11:02,440 Speaker 1: say that the offer done by a United Arab Emirates 208 00:11:02,480 --> 00:11:05,360 Speaker 1: based company called Core Sports seems like they do a 209 00:11:05,400 --> 00:11:07,200 Speaker 1: lot in kind of the fight and the and the 210 00:11:07,240 --> 00:11:10,360 Speaker 1: strongest man area, so that certainly seems kind of within 211 00:11:10,400 --> 00:11:13,400 Speaker 1: their their realm of expertise. You know, Michael, you and 212 00:11:13,480 --> 00:11:15,760 Speaker 1: I have talked on the show previously as well about 213 00:11:15,840 --> 00:11:18,680 Speaker 1: kind of how many other directions you can take ideas 214 00:11:18,720 --> 00:11:21,920 Speaker 1: like this, Right, if if Roger Federer and Rafael Nadal 215 00:11:22,000 --> 00:11:24,560 Speaker 1: wanted to play a best of seven match in Las 216 00:11:24,640 --> 00:11:27,880 Speaker 1: Vegas at T Mobile Arena, I would imagine that both 217 00:11:27,920 --> 00:11:31,080 Speaker 1: the arena and media companies would be, you know, jumping 218 00:11:31,080 --> 00:11:34,360 Speaker 1: over each other to try to to try to organize that. Um, 219 00:11:34,520 --> 00:11:36,680 Speaker 1: I think you know, and I'm curious if they are 220 00:11:36,720 --> 00:11:38,320 Speaker 1: the ones that jump out to you if if you know, 221 00:11:38,360 --> 00:11:41,640 Speaker 1: you're a racing guy, if you put you know, I'm 222 00:11:41,640 --> 00:11:43,160 Speaker 1: not gonna even try to name names, but if you 223 00:11:43,200 --> 00:11:46,480 Speaker 1: put two big NASCAR guys in fancy cars and had 224 00:11:46,480 --> 00:11:48,920 Speaker 1: a had a head to head on a closed track, 225 00:11:49,000 --> 00:11:50,679 Speaker 1: you know, is that I I assume that's something that 226 00:11:50,760 --> 00:11:53,360 Speaker 1: NASCAR folks would want to watch, maybe at the very 227 00:11:53,400 --> 00:11:55,760 Speaker 1: least just because it's a different kind of experience with 228 00:11:55,760 --> 00:11:58,640 Speaker 1: with athletes that they know. Well, yeah, I I could 229 00:11:58,640 --> 00:12:01,000 Speaker 1: see that happening, and you could take in fact, just 230 00:12:01,200 --> 00:12:04,199 Speaker 1: take some drivers who may have just recently stepped out 231 00:12:04,200 --> 00:12:07,040 Speaker 1: of the race car. Uh, take Dayalor and Hard Jr. 232 00:12:07,160 --> 00:12:10,120 Speaker 1: Take Jeff Gordon. Heck, I'd like to see that. Just 233 00:12:10,200 --> 00:12:12,840 Speaker 1: put those two out there. That would be a match 234 00:12:12,920 --> 00:12:15,280 Speaker 1: race that I would tune in to see. You know, 235 00:12:15,520 --> 00:12:19,760 Speaker 1: it's uh, if you have a product, you can sell it. 236 00:12:20,440 --> 00:12:24,199 Speaker 1: And you're talking two guys with this match the Mountain 237 00:12:24,200 --> 00:12:29,120 Speaker 1: wighing four five pounds good grief at all tips to 238 00:12:29,200 --> 00:12:32,480 Speaker 1: scales at three hundred sixty two. I mean, and I'm 239 00:12:32,520 --> 00:12:35,319 Speaker 1: not a small guy, but it would be the match 240 00:12:35,320 --> 00:12:39,120 Speaker 1: would be the Mountain against don knots. I can't handle 241 00:12:39,200 --> 00:12:42,000 Speaker 1: this guy. This this this is just a lot of 242 00:12:42,080 --> 00:12:44,360 Speaker 1: muscle going on and a lot of training in that. 243 00:12:45,200 --> 00:12:46,960 Speaker 1: And I have to give him credit. And he's got 244 00:12:47,000 --> 00:12:49,559 Speaker 1: the name recognition, So I'm sure people are going to 245 00:12:49,640 --> 00:12:51,360 Speaker 1: tune into this. I think we need to be a 246 00:12:51,360 --> 00:12:58,559 Speaker 1: little bit worried Evan about Big Bar Sports presents a 247 00:12:58,640 --> 00:13:01,000 Speaker 1: side hustle coming. I'm just saying, you know, you heard 248 00:13:01,040 --> 00:13:03,400 Speaker 1: it here first. I was gonna say. With the Bloomberg 249 00:13:03,440 --> 00:13:06,680 Speaker 1: Business of Sports launches its events series, We're gonna start 250 00:13:06,720 --> 00:13:09,920 Speaker 1: off with Taylor and our junior versus Jeff Gordon at 251 00:13:09,920 --> 00:13:12,800 Speaker 1: an empty Talladega. I love it. Today we are speaking 252 00:13:12,800 --> 00:13:16,520 Speaker 1: with the Jamie Regal, CEO of Formula E the All 253 00:13:16,600 --> 00:13:20,760 Speaker 1: Electric Motor Championship. Jamie, welcome to the Bloomberg Business of 254 00:13:20,800 --> 00:13:23,640 Speaker 1: Sports show. Oh, thanks very much for having me, Jamie. 255 00:13:23,679 --> 00:13:25,560 Speaker 1: You took the job in September, you know, a few 256 00:13:25,559 --> 00:13:28,439 Speaker 1: months onto the job, the biggest sports business story of 257 00:13:28,640 --> 00:13:31,240 Speaker 1: the last few decades, at the very least, kicks in. 258 00:13:31,400 --> 00:13:33,720 Speaker 1: I take it in your interview, how are you going 259 00:13:33,760 --> 00:13:35,840 Speaker 1: to deal with the pandemic? Wasn't one of the questions 260 00:13:35,840 --> 00:13:38,520 Speaker 1: that they were asking, you know, that one didn't come up. 261 00:13:39,040 --> 00:13:42,360 Speaker 1: There was a lot of depression around the opportunity, around 262 00:13:42,400 --> 00:13:46,520 Speaker 1: Formula around our potential and how we might grow the business. 263 00:13:46,600 --> 00:13:49,120 Speaker 1: But no, I don't think anyone could have possibly imagined 264 00:13:49,160 --> 00:13:52,520 Speaker 1: the scenario we find ourselves in now. And uh, we've 265 00:13:52,520 --> 00:13:56,959 Speaker 1: certainly been navigating a crash course in crisis management over 266 00:13:57,000 --> 00:13:59,600 Speaker 1: the last six months. So it's been it's been an 267 00:13:59,600 --> 00:14:03,040 Speaker 1: exciting trial. So Jamie, give us the state of play. 268 00:14:03,120 --> 00:14:06,320 Speaker 1: What's the decision tree that you're facing at this point? 269 00:14:06,800 --> 00:14:11,080 Speaker 1: No races, I believe in the near term you've had 270 00:14:11,120 --> 00:14:13,560 Speaker 1: a couple of races canceled, but you're still hoping to 271 00:14:13,559 --> 00:14:15,800 Speaker 1: get a couple in before the end of the season. 272 00:14:15,920 --> 00:14:18,120 Speaker 1: Help us understand where you are. Well, Look, I mean 273 00:14:18,160 --> 00:14:23,240 Speaker 1: we've been managing UH and dealing with the coronavirus crisis 274 00:14:23,360 --> 00:14:27,120 Speaker 1: since January. Actually, so we postponed our first race, which 275 00:14:27,200 --> 00:14:30,760 Speaker 1: is our Sonia race in a non province in China 276 00:14:30,840 --> 00:14:34,920 Speaker 1: on and so UH as the global business we've been 277 00:14:34,960 --> 00:14:37,640 Speaker 1: in dealing with this there's quite some time. And then 278 00:14:37,720 --> 00:14:41,320 Speaker 1: in March we effectively put our season on pause because 279 00:14:41,320 --> 00:14:46,560 Speaker 1: our next races were Rome, Paris, Seoul and Jakarta. UM 280 00:14:46,640 --> 00:14:49,520 Speaker 1: and now we've extended that because our next races were 281 00:14:49,560 --> 00:14:52,520 Speaker 1: in Berlin, New York and London, and New York and 282 00:14:52,560 --> 00:14:56,640 Speaker 1: London both venues have been taken over by the local 283 00:14:56,680 --> 00:15:01,600 Speaker 1: authorities as emergency hospitals for COVID night. So very much 284 00:15:01,640 --> 00:15:05,120 Speaker 1: the schedule has been disrupted. UM. But you know, clearly 285 00:15:05,160 --> 00:15:07,720 Speaker 1: we're part of something much bigger than the sport right now, 286 00:15:07,920 --> 00:15:10,200 Speaker 1: and the health and safety of our stakeholders is looks 287 00:15:10,240 --> 00:15:13,440 Speaker 1: most important, but of course we're working very hard on 288 00:15:13,560 --> 00:15:18,360 Speaker 1: trying to identify alternative to continue the calendar, and we'll 289 00:15:18,400 --> 00:15:22,680 Speaker 1: look to do that later this summer. We've effectively extended 290 00:15:22,720 --> 00:15:24,720 Speaker 1: what would be the natural end of our season, which 291 00:15:24,720 --> 00:15:27,480 Speaker 1: would have been July, into September to try to create 292 00:15:27,480 --> 00:15:30,280 Speaker 1: some space in the calendar. And you know, we sit 293 00:15:30,320 --> 00:15:33,280 Speaker 1: here today and may hopeful and optimistic that we'll be 294 00:15:33,320 --> 00:15:36,520 Speaker 1: able to get some events off in August and September. Jamie, 295 00:15:36,520 --> 00:15:40,320 Speaker 1: it's a shame. Formula E was picking up in popularity 296 00:15:40,440 --> 00:15:43,120 Speaker 1: and it was gaining a foothold, and then everything came 297 00:15:43,160 --> 00:15:46,760 Speaker 1: to a grinding halt, the popularity of the sport. Can 298 00:15:46,840 --> 00:15:51,040 Speaker 1: you explain that to the listeners on what made this 299 00:15:51,240 --> 00:15:55,400 Speaker 1: sport special? Well, formulaly is the fusion of motorsport, which 300 00:15:55,400 --> 00:15:59,680 Speaker 1: is all about technology and innovation and passion and climate 301 00:15:59,760 --> 00:16:03,200 Speaker 1: change and specifically the shift to electric vehicles. So we 302 00:16:03,240 --> 00:16:06,600 Speaker 1: exist to accelerate the adoption of electric vehicles, and we're 303 00:16:06,680 --> 00:16:09,560 Speaker 1: leveraging the power of sport to tell that story. And 304 00:16:10,080 --> 00:16:12,160 Speaker 1: I think what our fans really buy into is we've 305 00:16:12,160 --> 00:16:15,920 Speaker 1: got an exciting core proposition with some great brand uh 306 00:16:16,080 --> 00:16:18,600 Speaker 1: some of the biggest car manufacturers in the world who 307 00:16:18,600 --> 00:16:22,080 Speaker 1: are leveraging our platform to prove their technology and also 308 00:16:22,200 --> 00:16:26,400 Speaker 1: tell a marketing story. Um. And it's fundamentally a very 309 00:16:26,440 --> 00:16:29,080 Speaker 1: competitive championship with some of the best drivers in the 310 00:16:29,120 --> 00:16:31,160 Speaker 1: world and some of the best teams, and you know, 311 00:16:31,200 --> 00:16:35,040 Speaker 1: fans buy into that, that excitement and ultimately the uncertainty 312 00:16:35,040 --> 00:16:37,560 Speaker 1: of the outcome, which is which is a core pillar 313 00:16:37,640 --> 00:16:41,120 Speaker 1: for Formula Jamie to go back to the kind of 314 00:16:41,120 --> 00:16:42,880 Speaker 1: the slowdown of the season for a second. You know, 315 00:16:42,920 --> 00:16:45,480 Speaker 1: we've been talking on this show to a number of 316 00:16:45,560 --> 00:16:48,240 Speaker 1: you know, different sports stakeholders, you know, and when you 317 00:16:48,280 --> 00:16:50,720 Speaker 1: get a sense of kind of where they make their money, 318 00:16:50,720 --> 00:16:52,640 Speaker 1: you also get a sense for kind of the ideal 319 00:16:53,080 --> 00:16:56,720 Speaker 1: way to maybe tailor their sport to to fit this 320 00:16:56,800 --> 00:16:59,840 Speaker 1: with this weird new potential reality. Can you give us 321 00:16:59,840 --> 00:17:02,560 Speaker 1: a and of kind of the revenue pie for you guys, 322 00:17:02,640 --> 00:17:03,840 Speaker 1: is that you know, do you make most of your 323 00:17:03,840 --> 00:17:07,120 Speaker 1: money from sponsorships? Is it media rights, is it ticket sales? 324 00:17:07,560 --> 00:17:09,320 Speaker 1: And kind of how do you think about, you know, 325 00:17:09,680 --> 00:17:13,200 Speaker 1: where those buckets are relative to what Formula E might 326 00:17:13,240 --> 00:17:15,359 Speaker 1: look like. You know, maybe in a few months if 327 00:17:15,359 --> 00:17:17,040 Speaker 1: you can get it off the ground again, this season. 328 00:17:17,680 --> 00:17:20,880 Speaker 1: So Formula has a very similar business model to other 329 00:17:20,920 --> 00:17:24,840 Speaker 1: sports preason that we have ticketing income, media revenue and 330 00:17:25,119 --> 00:17:28,080 Speaker 1: sponsorship income. I think we're we're reptively fortunate in the 331 00:17:28,119 --> 00:17:31,359 Speaker 1: current crisis was were less dependent on ticketing and attendance 332 00:17:31,400 --> 00:17:35,520 Speaker 1: income and media rights UM and fairly strong on censorship. 333 00:17:35,560 --> 00:17:39,360 Speaker 1: And our sponsorship partners have bought into Formula a platform 334 00:17:39,359 --> 00:17:43,480 Speaker 1: for innovation, platform to tell stories around sustainability. And so 335 00:17:43,720 --> 00:17:46,680 Speaker 1: actually our business model and the current environment is relatively 336 00:17:47,080 --> 00:17:49,720 Speaker 1: protected because we don't have huge TV rights UM. The 337 00:17:49,760 --> 00:17:52,560 Speaker 1: impact on our business is actually not as severe as 338 00:17:52,560 --> 00:17:56,040 Speaker 1: today is for some other sports properties. And so as 339 00:17:56,080 --> 00:17:58,920 Speaker 1: you look at that, one of the clear things that 340 00:17:59,000 --> 00:18:02,080 Speaker 1: comes up is this quest and of everybody's safety, including 341 00:18:02,200 --> 00:18:06,240 Speaker 1: the drivers and all the teams. How does that element 342 00:18:06,320 --> 00:18:08,720 Speaker 1: change as you think about sort of modeling this out 343 00:18:09,359 --> 00:18:13,080 Speaker 1: UH in terms of setting up something where the drivers 344 00:18:13,080 --> 00:18:15,639 Speaker 1: feel comptable, especially and this is something we hear from 345 00:18:15,680 --> 00:18:19,399 Speaker 1: a lot of other UH international sports because you're dealing 346 00:18:19,480 --> 00:18:24,840 Speaker 1: with a global population of athletes. In many ways, that's right, 347 00:18:24,920 --> 00:18:28,240 Speaker 1: I mean, our our business, one of the virtues of it, 348 00:18:28,359 --> 00:18:32,000 Speaker 1: we believe is global nature. The teams are based in 349 00:18:32,560 --> 00:18:36,560 Speaker 1: Germany in the UK and France and China in India, 350 00:18:36,800 --> 00:18:38,639 Speaker 1: and then we have drivers from all over the world. 351 00:18:38,720 --> 00:18:40,600 Speaker 1: And that's one of those things I think our our 352 00:18:40,680 --> 00:18:44,960 Speaker 1: fans and our commercial partners buy into. But as you 353 00:18:45,040 --> 00:18:47,480 Speaker 1: say that, that presents a series of challenges as we 354 00:18:47,480 --> 00:18:49,040 Speaker 1: look to get back to racing, So I would I 355 00:18:49,040 --> 00:18:52,280 Speaker 1: would put it into phases as we look to complete 356 00:18:52,400 --> 00:18:56,200 Speaker 1: season six. We've completed five of our fourteen races. Clearly 357 00:18:56,240 --> 00:18:59,280 Speaker 1: those events are going to be behind closed doors with 358 00:18:59,560 --> 00:19:03,440 Speaker 1: signific again restrictions in terms of human interactions, social distancing 359 00:19:03,520 --> 00:19:05,040 Speaker 1: and go on and so forth. And for those of 360 00:19:05,040 --> 00:19:07,840 Speaker 1: you aren't a familiar with motorsport, clearly the teams are 361 00:19:07,880 --> 00:19:11,159 Speaker 1: interacting in a very intimate late in the in the garage. 362 00:19:11,320 --> 00:19:13,680 Speaker 1: We're gonna have to set up some policy to make 363 00:19:13,680 --> 00:19:16,200 Speaker 1: sure that they're tested and so on and so forth. 364 00:19:16,640 --> 00:19:19,199 Speaker 1: Starting later this year, you know, there we're gonna have 365 00:19:19,240 --> 00:19:23,600 Speaker 1: to look at separating fans within the data. We've got 366 00:19:23,600 --> 00:19:25,960 Speaker 1: something called the Alley on the village, which is effectively 367 00:19:25,960 --> 00:19:29,160 Speaker 1: which you know, a carnival area where the fans can congregate. Again, 368 00:19:29,160 --> 00:19:30,719 Speaker 1: we're gonna have to look at how we create more 369 00:19:30,760 --> 00:19:33,520 Speaker 1: space within those environments to ensure it's it's safe and 370 00:19:33,920 --> 00:19:36,800 Speaker 1: the drivers want to attend, and the and the fans 371 00:19:36,800 --> 00:19:40,280 Speaker 1: want to attend. Four people not familiar with Formula Some 372 00:19:40,359 --> 00:19:43,520 Speaker 1: of the big names in the sport, Antonio Felix to Costa, 373 00:19:43,680 --> 00:19:48,800 Speaker 1: Mitch Evans, Alexander Simms, Maximilian Gunther. Those are names, they're 374 00:19:48,840 --> 00:19:52,920 Speaker 1: not household names, but they were trying to gain traction. 375 00:19:53,280 --> 00:19:56,800 Speaker 1: What will it take for these drivers, and all the 376 00:19:56,880 --> 00:20:00,360 Speaker 1: drivers on the circuit for that matter, uh, to come 377 00:20:00,440 --> 00:20:03,640 Speaker 1: to name recognition like Lewis Hamilton who's in F one, 378 00:20:03,840 --> 00:20:07,720 Speaker 1: or other names like that. Formulaly has some a core 379 00:20:07,880 --> 00:20:12,000 Speaker 1: ingredient that I think is a market for all successful sports. 380 00:20:12,040 --> 00:20:16,800 Speaker 1: And then the racing is unpredictable, Uh, the outcome is unpredictable. 381 00:20:17,240 --> 00:20:21,119 Speaker 1: And if you have that as an underlying pillar, and 382 00:20:21,119 --> 00:20:24,800 Speaker 1: then you overlay the teams and the brands of the 383 00:20:24,840 --> 00:20:28,080 Speaker 1: manufacturers that we have, and then the drivers in those cars. 384 00:20:28,119 --> 00:20:31,800 Speaker 1: There are very few seats in motor sport generally, whether 385 00:20:31,840 --> 00:20:35,360 Speaker 1: that's NASCAR, in because Formula One or of course formularly. 386 00:20:35,520 --> 00:20:38,280 Speaker 1: So these guys are top, top athletes. UH. It's been 387 00:20:38,359 --> 00:20:41,359 Speaker 1: our job as a championship to create the framework that 388 00:20:41,440 --> 00:20:44,040 Speaker 1: allows them to be successful. And we feel like we 389 00:20:44,080 --> 00:20:47,520 Speaker 1: have some ingredients that they said before, the inherent level 390 00:20:47,520 --> 00:20:51,119 Speaker 1: of competitiveness. We're global. We have to build ourselves as 391 00:20:51,160 --> 00:20:53,919 Speaker 1: a media property to attract fans until we need to 392 00:20:53,960 --> 00:20:56,960 Speaker 1: increase our distribution channels. If we do all that and 393 00:20:57,040 --> 00:20:59,119 Speaker 1: the racing is exciting, the fans will come. And I 394 00:20:59,160 --> 00:21:03,119 Speaker 1: think what we've seen in the last uh six months 395 00:21:03,119 --> 00:21:06,119 Speaker 1: before our season was put on pause. You know, we 396 00:21:06,160 --> 00:21:08,359 Speaker 1: had over forty five thousand people at our race in 397 00:21:08,480 --> 00:21:11,480 Speaker 1: Mexico City, over twenty five thousand people at our race 398 00:21:11,520 --> 00:21:15,080 Speaker 1: in Santiago in January, and so the level of interest 399 00:21:15,200 --> 00:21:18,040 Speaker 1: is clearly there. Um And to really break through a 400 00:21:18,200 --> 00:21:22,000 Speaker 1: global sport, to make these guys global superstars, which I 401 00:21:22,200 --> 00:21:24,439 Speaker 1: personally believe they deserve to be, you know, we have 402 00:21:24,520 --> 00:21:27,120 Speaker 1: to build up that media product and make it upoint 403 00:21:27,280 --> 00:21:29,520 Speaker 1: doing and make make sure the fans are tuning in 404 00:21:29,560 --> 00:21:31,639 Speaker 1: and we can recount welcome we we need for that 405 00:21:31,880 --> 00:21:34,119 Speaker 1: is to be able to get back on track, Jamie. 406 00:21:34,119 --> 00:21:37,160 Speaker 1: We've seen a number of different racing circuits, certainly NASCAR 407 00:21:37,359 --> 00:21:39,960 Speaker 1: F one you guys all looking at you know, in 408 00:21:40,040 --> 00:21:44,320 Speaker 1: this time where races aren't happening, virtual Racing, Eye, Racing Events, 409 00:21:44,400 --> 00:21:46,399 Speaker 1: E Sports. Could you give us a sense of of 410 00:21:46,440 --> 00:21:48,479 Speaker 1: what you guys have done in that space and and 411 00:21:48,520 --> 00:21:51,960 Speaker 1: maybe how the results you've seen so far and how 412 00:21:51,960 --> 00:21:55,760 Speaker 1: it's maybe kept your fans and your drivers engaged at 413 00:21:55,760 --> 00:21:59,080 Speaker 1: the time when when they aren't on normal tracks. Absolutely well. 414 00:21:59,119 --> 00:22:02,200 Speaker 1: When we put the Cheason on pause in early March, 415 00:22:02,240 --> 00:22:04,280 Speaker 1: we immediately said we had to do something to be 416 00:22:04,320 --> 00:22:07,359 Speaker 1: able to fill the gap from a content perspective and 417 00:22:07,359 --> 00:22:10,639 Speaker 1: to try to deliver UH engagement to our fans and 418 00:22:10,960 --> 00:22:13,640 Speaker 1: to support our teams and commercial partners because we knew 419 00:22:13,680 --> 00:22:15,000 Speaker 1: we were gonna be facing a bit of the drive 420 00:22:15,080 --> 00:22:18,639 Speaker 1: cell here. Um. We were not the first one to launch. 421 00:22:19,080 --> 00:22:21,560 Speaker 1: A number of other initiatives came out quickly, and so 422 00:22:21,640 --> 00:22:24,199 Speaker 1: what we said is let's regroup and make sure we 423 00:22:24,240 --> 00:22:27,439 Speaker 1: really have a differentiated product, and we partnered with the 424 00:22:27,480 --> 00:22:29,920 Speaker 1: unseeth actually first and foremost. So the idea was really 425 00:22:29,920 --> 00:22:34,160 Speaker 1: to use UH the sports platform as a fundraising tool. UM. 426 00:22:34,240 --> 00:22:37,080 Speaker 1: We also set it up as a race series, so 427 00:22:37,240 --> 00:22:41,359 Speaker 1: an eight week series with appointment viewing h three thirty 428 00:22:41,480 --> 00:22:45,480 Speaker 1: UK time for eight Saturdays in a row. And then 429 00:22:45,480 --> 00:22:48,320 Speaker 1: from a format perspective, we brought in all of our 430 00:22:48,359 --> 00:22:50,240 Speaker 1: teams and all of our drivers. We think we're the 431 00:22:50,280 --> 00:22:53,520 Speaker 1: only championships that doing that. And then within the broadcast, 432 00:22:54,119 --> 00:22:56,080 Speaker 1: we also have what we call the Challenge Grid, which 433 00:22:56,119 --> 00:23:00,560 Speaker 1: is gamers and celebrities, UM and UH, a number of 434 00:23:00,600 --> 00:23:03,119 Speaker 1: other influencers. And the idea is basically to package that 435 00:23:03,240 --> 00:23:06,480 Speaker 1: as a product with all of the revenue we generate 436 00:23:07,400 --> 00:23:11,359 Speaker 1: going to support the COVID crisis initiative with new ASSASS 437 00:23:11,960 --> 00:23:14,480 Speaker 1: and it's really been well received. I mean the level 438 00:23:14,520 --> 00:23:18,160 Speaker 1: of support from the teams and the drivers. We've been divided, 439 00:23:18,200 --> 00:23:20,560 Speaker 1: and we've seen them a number of them launched on 440 00:23:20,600 --> 00:23:24,080 Speaker 1: Twitch and other digital platforms to kind of showcase that 441 00:23:24,119 --> 00:23:27,320 Speaker 1: they're up to. UH. We sent all of our drivers 442 00:23:27,520 --> 00:23:29,560 Speaker 1: the same rigs so that we would make sure that 443 00:23:29,600 --> 00:23:33,040 Speaker 1: it was a fair competition, and we've seen a really good, 444 00:23:33,400 --> 00:23:37,000 Speaker 1: good reception in terms of the viewership. We've got a 445 00:23:37,040 --> 00:23:41,119 Speaker 1: mix of distribution on some digital platforms like YouTube and 446 00:23:41,400 --> 00:23:45,960 Speaker 1: Twitch and Facebook, and then also our traditional broadcasters are 447 00:23:46,000 --> 00:23:47,520 Speaker 1: taking the feed as well. So for example, in the 448 00:23:47,600 --> 00:23:51,360 Speaker 1: United States, we're actually on Fox Fox Sports one. UM 449 00:23:51,440 --> 00:23:55,680 Speaker 1: and interested in the audience was about what we get 450 00:23:55,720 --> 00:23:58,479 Speaker 1: for for a live race, So actually UH It shows 451 00:23:58,520 --> 00:24:00,840 Speaker 1: that there's there's a gap and there's a man um 452 00:24:00,880 --> 00:24:03,720 Speaker 1: and so for us, it's fantastic and certainly the US 453 00:24:03,760 --> 00:24:07,119 Speaker 1: market to get that level of incremental exposure. Well, Jamie 454 00:24:07,160 --> 00:24:09,119 Speaker 1: to that point, I mean, one of the things that 455 00:24:09,160 --> 00:24:11,320 Speaker 1: we keep hearing from people is they're learning a lot 456 00:24:11,359 --> 00:24:14,440 Speaker 1: about their audience, They're learning a lot about their athletes. 457 00:24:14,600 --> 00:24:17,600 Speaker 1: And so I do wonder what do you take from 458 00:24:17,600 --> 00:24:20,000 Speaker 1: this moment? Do you say, huh, we hadn't thought about 459 00:24:20,000 --> 00:24:23,120 Speaker 1: doing that before, And I wonder if it plays into 460 00:24:23,160 --> 00:24:25,280 Speaker 1: exactly what you were just talking about, that we're going 461 00:24:25,320 --> 00:24:27,679 Speaker 1: to keep doing this even when we get back to 462 00:24:28,320 --> 00:24:30,720 Speaker 1: live raising. That could be a new revenue stream or 463 00:24:30,840 --> 00:24:34,560 Speaker 1: that could be a new line of business to some extent. Well, 464 00:24:34,560 --> 00:24:36,760 Speaker 1: that's right. I mean, I think all sports properties are 465 00:24:36,760 --> 00:24:40,960 Speaker 1: looking at ways to engage the younger mortgagital audience formulaly, 466 00:24:41,080 --> 00:24:44,320 Speaker 1: that's one of our differentiators. Generally we have an audience 467 00:24:44,440 --> 00:24:48,280 Speaker 1: excused younger. It's more urban um so we're somewhat fortunate 468 00:24:48,359 --> 00:24:50,960 Speaker 1: mat regard and we think our our audience lended shelf 469 00:24:51,040 --> 00:24:55,160 Speaker 1: to that. I would say from our our point of differentiation, 470 00:24:55,240 --> 00:24:58,879 Speaker 1: the idea of having a parallel track race with the 471 00:24:59,000 --> 00:25:01,920 Speaker 1: challenge grid within influencers, but been also a real race, 472 00:25:02,000 --> 00:25:05,600 Speaker 1: if you will, amongst all the teams and the drivers. 473 00:25:05,640 --> 00:25:08,280 Speaker 1: That was appointed differentiation. And so as you think about 474 00:25:08,560 --> 00:25:11,600 Speaker 1: going back to a normal race, how do we attract 475 00:25:11,840 --> 00:25:15,080 Speaker 1: an audience that is perhaps beyond the traditional motorsport audience, 476 00:25:15,640 --> 00:25:19,320 Speaker 1: who might naturally have affinity for formula who might appeal 477 00:25:19,359 --> 00:25:23,000 Speaker 1: to uh excuse me, who might be attracted to more 478 00:25:23,000 --> 00:25:26,320 Speaker 1: of a video game activity or uh, some of the 479 00:25:26,320 --> 00:25:29,680 Speaker 1: influencers we've brought in. How can we embed that experience 480 00:25:29,720 --> 00:25:33,359 Speaker 1: into the live product on the race weekend, perhaps you know, 481 00:25:33,400 --> 00:25:36,639 Speaker 1: filling in throughout the day in terms of an alternative 482 00:25:37,080 --> 00:25:40,000 Speaker 1: piece of content adjason to the real race. I don't 483 00:25:40,040 --> 00:25:42,399 Speaker 1: know if anybody has had a chance. I want to 484 00:25:42,400 --> 00:25:45,480 Speaker 1: explain this to the audience to see a Formula E race. 485 00:25:46,160 --> 00:25:49,159 Speaker 1: The cars are so quiet that the loudest thing you 486 00:25:49,240 --> 00:25:51,919 Speaker 1: hear on the cars it is the tire squeal when 487 00:25:51,920 --> 00:25:54,199 Speaker 1: they're going through the turn. Which brings me to the 488 00:25:54,240 --> 00:25:57,840 Speaker 1: next point is that when a car comes into the 489 00:25:57,840 --> 00:26:02,080 Speaker 1: pits and they need to have another car, just go 490 00:26:02,119 --> 00:26:04,840 Speaker 1: ahead and change the other car because the obviously the 491 00:26:05,000 --> 00:26:09,000 Speaker 1: charging the battery is goes down low. The technology you 492 00:26:09,040 --> 00:26:12,520 Speaker 1: guys have, will we see it one day where the 493 00:26:13,200 --> 00:26:16,920 Speaker 1: motor can go farther and maybe one day extend over 494 00:26:17,000 --> 00:26:22,160 Speaker 1: into the passenger car. Absolutely, and formulaly is different among 495 00:26:22,240 --> 00:26:25,199 Speaker 1: sports in the sense that we were founded specifically to 496 00:26:25,240 --> 00:26:28,600 Speaker 1: help accelerate the adoption electric vehicles. Right, it was really 497 00:26:28,680 --> 00:26:33,320 Speaker 1: meant as technology proving around on a marketing showcase for 498 00:26:33,400 --> 00:26:37,560 Speaker 1: the potential electric vehicles. The first generation was really about 499 00:26:37,600 --> 00:26:40,680 Speaker 1: proving that these cars can go fast and they can 500 00:26:40,680 --> 00:26:43,320 Speaker 1: be exciting racing. We're on our second generation now, where 501 00:26:43,359 --> 00:26:46,879 Speaker 1: the battery range much longer, so the drivers no longer 502 00:26:46,920 --> 00:26:50,720 Speaker 1: have a pit stop to change cars. The battery last 503 00:26:50,800 --> 00:26:55,000 Speaker 1: the full race, and the energy management development, meaning how 504 00:26:55,080 --> 00:26:57,680 Speaker 1: quickly they use their energy and therefore how fast they 505 00:26:57,680 --> 00:27:00,919 Speaker 1: can go throughout the race, is keep differentiator on the 506 00:27:00,920 --> 00:27:04,719 Speaker 1: skill UH. As you think about inhibitors to adopting an 507 00:27:04,720 --> 00:27:06,959 Speaker 1: electric vehicle, one of the main confernce people have is 508 00:27:07,359 --> 00:27:10,679 Speaker 1: his range, Right, how far will the battery last? And 509 00:27:10,720 --> 00:27:13,399 Speaker 1: so as we look to UH next season. In the 510 00:27:13,440 --> 00:27:16,320 Speaker 1: season after the development of the car, there's an enormous 511 00:27:16,320 --> 00:27:18,679 Speaker 1: amount of R and D that goes into one the 512 00:27:18,680 --> 00:27:23,399 Speaker 1: battery technology to what's called the inverter, effectively converting the 513 00:27:23,480 --> 00:27:28,240 Speaker 1: energy to the power train and the efficiency through software 514 00:27:28,320 --> 00:27:32,199 Speaker 1: that UH O, E M. The manufacturers can drive. And 515 00:27:32,240 --> 00:27:36,240 Speaker 1: so it is very relevant to UH you and I 516 00:27:36,400 --> 00:27:39,080 Speaker 1: buying a car because it gives us a chance as 517 00:27:39,080 --> 00:27:41,639 Speaker 1: our technology develops in the races of what's going to 518 00:27:41,760 --> 00:27:44,080 Speaker 1: come on the road, perhaps not next year, but in three, 519 00:27:44,119 --> 00:27:46,720 Speaker 1: four or five years time, and all of our manufacturers 520 00:27:46,720 --> 00:27:49,720 Speaker 1: are seeing that that clear link. And Jamie, You've worked 521 00:27:49,760 --> 00:27:52,359 Speaker 1: in a number of different sports organizations, I think maybe 522 00:27:52,400 --> 00:27:55,680 Speaker 1: most notably you know, you ran the partnerships and business 523 00:27:55,760 --> 00:27:58,240 Speaker 1: operations for Manchester United for a while. We're part of 524 00:27:58,280 --> 00:28:01,280 Speaker 1: their kind of expansion in Asia, which which went very 525 00:28:01,280 --> 00:28:03,600 Speaker 1: well for the club. I'm curious, you know, given your 526 00:28:03,640 --> 00:28:06,640 Speaker 1: extensive history and other sports, how much of your job 527 00:28:06,720 --> 00:28:10,399 Speaker 1: now is kind of specific to the racing industry and 528 00:28:10,440 --> 00:28:12,600 Speaker 1: how much is stuff that you're like, oh, yeah, I 529 00:28:12,640 --> 00:28:14,439 Speaker 1: saw this before. This is just the same thing with 530 00:28:14,480 --> 00:28:16,520 Speaker 1: a different sport, you know, that I was doing in 531 00:28:16,520 --> 00:28:20,000 Speaker 1: soccer or in American football. The business models amongst sports 532 00:28:20,000 --> 00:28:23,560 Speaker 1: are very similar. We've discussed before. There's the media rights, 533 00:28:23,600 --> 00:28:27,200 Speaker 1: there's the attendance and driving fan engagement, and sponsorship. I 534 00:28:27,240 --> 00:28:29,360 Speaker 1: mean those are generally the three big buckets, and so 535 00:28:29,600 --> 00:28:33,040 Speaker 1: there's a significant amount of pattern recognition in terms of 536 00:28:33,080 --> 00:28:36,480 Speaker 1: how you go to market, how you position the property, 537 00:28:37,040 --> 00:28:39,360 Speaker 1: how we tell stories to consumers, and then ultimately how 538 00:28:39,360 --> 00:28:43,000 Speaker 1: we commercialize that havn't been said. UM. Each sport has 539 00:28:43,040 --> 00:28:46,960 Speaker 1: its own relationships, its own politics, UM, its own motivation, 540 00:28:47,600 --> 00:28:51,960 Speaker 1: and the fan bases are different in terms of their expectations. UM. 541 00:28:52,000 --> 00:28:56,640 Speaker 1: Clearly motorsports, UH is more global. We have more races 542 00:28:56,680 --> 00:28:59,440 Speaker 1: around the world, We're delivering events around the world. It's 543 00:28:59,480 --> 00:29:02,680 Speaker 1: inherently premium, and the stakeholders we have are some of 544 00:29:02,720 --> 00:29:05,360 Speaker 1: the biggest car companies in the world. We are there 545 00:29:05,440 --> 00:29:10,080 Speaker 1: to UM the spouse of sport and to grow UH 546 00:29:10,360 --> 00:29:13,680 Speaker 1: formerly as a as a sporting and entertainment brand, but 547 00:29:13,720 --> 00:29:16,440 Speaker 1: they're also in it because they want to develop technology 548 00:29:16,520 --> 00:29:19,760 Speaker 1: for their electric vehicle platforms, and so there's just a 549 00:29:19,760 --> 00:29:24,640 Speaker 1: different set of motivation and UM challenges that that presents. 550 00:29:24,640 --> 00:29:28,440 Speaker 1: So there's a degree of pattern recognition. But as each 551 00:29:28,480 --> 00:29:30,720 Speaker 1: new environment you enter, you bring a little bit with you, 552 00:29:30,760 --> 00:29:32,600 Speaker 1: but you have to be pretty in bold and look 553 00:29:32,640 --> 00:29:35,800 Speaker 1: to learn as you as you go. Well, Jamie, speaking 554 00:29:35,840 --> 00:29:38,200 Speaker 1: of new environments. All of you are in the same 555 00:29:38,240 --> 00:29:41,280 Speaker 1: new environment when it comes to figuring out how to 556 00:29:41,400 --> 00:29:44,200 Speaker 1: move forward in the short term and the mid term. 557 00:29:44,320 --> 00:29:47,600 Speaker 1: I do wonder, as you look back to their premiership 558 00:29:47,640 --> 00:29:51,120 Speaker 1: and you look back to the NFL, how are they 559 00:29:51,240 --> 00:29:54,720 Speaker 1: doing so far? In your estimation as an alum of 560 00:29:54,760 --> 00:29:58,280 Speaker 1: those groups and those organizations, how would you rate them 561 00:29:58,280 --> 00:30:01,000 Speaker 1: in terms of their planning. Obviously you know you're seeing 562 00:30:01,000 --> 00:30:02,720 Speaker 1: it from a little bit of a distance, but I'm 563 00:30:02,720 --> 00:30:06,120 Speaker 1: guessing you're still talking to some of your friends there. Well, look, 564 00:30:06,200 --> 00:30:09,080 Speaker 1: I would say there's an enormous amount of solidarity amongst 565 00:30:09,400 --> 00:30:13,280 Speaker 1: the business people and the executives within the sports industry. 566 00:30:13,480 --> 00:30:16,800 Speaker 1: And the reality is none of us have a math 567 00:30:17,200 --> 00:30:19,680 Speaker 1: for a set of guide boats for the situation we 568 00:30:19,760 --> 00:30:24,160 Speaker 1: find ourselves in. Um, this is true, hopefully want in 569 00:30:24,160 --> 00:30:26,560 Speaker 1: a career. And so what's great is there a degree 570 00:30:26,560 --> 00:30:30,280 Speaker 1: a commodity and uh willingness to share and learn. And 571 00:30:30,320 --> 00:30:32,640 Speaker 1: so I have an enormous amount of respect for what 572 00:30:32,760 --> 00:30:36,320 Speaker 1: all of the other books in my shoes are trying 573 00:30:36,320 --> 00:30:38,400 Speaker 1: to navigate through at the moment, and we need on 574 00:30:38,440 --> 00:30:42,560 Speaker 1: each other for advice. You know, each each team, each 575 00:30:42,720 --> 00:30:46,560 Speaker 1: league has to figure out what's right for its stakeholders, 576 00:30:47,200 --> 00:30:51,720 Speaker 1: you know, first and foremost the cities and the fans 577 00:30:51,920 --> 00:30:55,720 Speaker 1: and the uh players and the teams and the referees, 578 00:30:55,920 --> 00:30:58,520 Speaker 1: all of the stakeholders who need to come together and 579 00:30:58,640 --> 00:31:01,360 Speaker 1: feel comfortable that we're going to be able to put 580 00:31:01,360 --> 00:31:03,960 Speaker 1: on our events in a safe manner. You know, ultimately 581 00:31:04,000 --> 00:31:07,680 Speaker 1: that's the guiding principle, and so we'll all navigate through 582 00:31:07,720 --> 00:31:12,240 Speaker 1: that together clearly. As we sit here anticipating racing in August, 583 00:31:12,280 --> 00:31:15,360 Speaker 1: we're looking at, for example, in Germany, the Industrida is 584 00:31:15,360 --> 00:31:18,440 Speaker 1: looking at returning two games sometime this month, and we're 585 00:31:18,440 --> 00:31:20,600 Speaker 1: looking at that very closely in terms of the approach 586 00:31:20,600 --> 00:31:23,160 Speaker 1: and the policy that they're taking. We're working with our 587 00:31:23,200 --> 00:31:25,760 Speaker 1: governing body, the f i A. We're working with the 588 00:31:25,880 --> 00:31:28,120 Speaker 1: w h L, the World Health Organization, to try to 589 00:31:28,160 --> 00:31:32,720 Speaker 1: figure out what the right policies and procedures would make 590 00:31:32,760 --> 00:31:34,680 Speaker 1: sense to be able to put on an event. And 591 00:31:34,760 --> 00:31:37,600 Speaker 1: so I won't be giving any grades. We're all learning 592 00:31:37,640 --> 00:31:39,720 Speaker 1: from each other and hopefully we can all get back 593 00:31:39,760 --> 00:31:43,080 Speaker 1: to what what what fan love, which is the passion 594 00:31:43,080 --> 00:31:46,160 Speaker 1: and engagement with sports delivers Jimmy, you spoke earlier a 595 00:31:46,200 --> 00:31:48,600 Speaker 1: bit about how you know, part of Firmula Easy mission 596 00:31:48,640 --> 00:31:52,080 Speaker 1: is kind of to advance the awareness and interest in 597 00:31:52,520 --> 00:31:56,120 Speaker 1: electric cars and more broadly climate change. Certainly, this pandemic 598 00:31:56,240 --> 00:31:59,840 Speaker 1: is not maybe not directly a climate change item, but 599 00:32:00,200 --> 00:32:01,760 Speaker 1: you know a lot of people are saying that this 600 00:32:01,800 --> 00:32:04,520 Speaker 1: can be kind of a call to action for people 601 00:32:04,560 --> 00:32:06,920 Speaker 1: to think more broadly about the ways in which our 602 00:32:07,000 --> 00:32:09,600 Speaker 1: environment and our climate is changing. I'm curious if you 603 00:32:09,920 --> 00:32:11,959 Speaker 1: agree with that, if you kind of maybe sense an 604 00:32:12,000 --> 00:32:15,120 Speaker 1: opportunity for kind of everybody that's in you know, this 605 00:32:15,840 --> 00:32:18,560 Speaker 1: the front line of this UH of trying to talk 606 00:32:18,600 --> 00:32:20,840 Speaker 1: about these topics that that maybe you know, on the 607 00:32:20,880 --> 00:32:24,800 Speaker 1: back end of the coronavirus pandemic there may be more 608 00:32:24,800 --> 00:32:28,080 Speaker 1: willingness or more openness or more conversation about some of 609 00:32:28,080 --> 00:32:30,520 Speaker 1: the topics that you're trying to advance right now. So 610 00:32:30,680 --> 00:32:34,680 Speaker 1: what we believe that the trends that we are part of, 611 00:32:34,920 --> 00:32:38,720 Speaker 1: meaning you know, the awareness around climate change and UH, 612 00:32:38,920 --> 00:32:43,800 Speaker 1: the election vehicle's potential UH contribution to addressing those challenges. 613 00:32:44,600 --> 00:32:46,960 Speaker 1: You know, those are true before coronavirus, and they will 614 00:32:47,000 --> 00:32:49,760 Speaker 1: be treating UH when we come out of the crisis. 615 00:32:50,560 --> 00:32:53,400 Speaker 1: But as you can point out, UM, what is happening 616 00:32:53,400 --> 00:32:57,160 Speaker 1: now is we have a massive experiment in humanity effectively 617 00:32:57,160 --> 00:32:59,520 Speaker 1: staying at home. We have to an as three three 618 00:32:59,520 --> 00:33:03,440 Speaker 1: billion bowl who are no longer Trent, going to work, 619 00:33:03,520 --> 00:33:07,240 Speaker 1: moving about the their normal day daily lives. And what 620 00:33:07,280 --> 00:33:09,280 Speaker 1: we've seen is a consequence of that is a massive 621 00:33:09,280 --> 00:33:11,960 Speaker 1: reduction in air pollution in a very short period of time. 622 00:33:12,240 --> 00:33:16,480 Speaker 1: And so that clearly, in our mind provides a very 623 00:33:16,720 --> 00:33:20,680 Speaker 1: real test case of the impact of human activity on 624 00:33:21,280 --> 00:33:25,120 Speaker 1: pollution and emission levels, which we think helps our case. Um. 625 00:33:25,160 --> 00:33:28,440 Speaker 1: And then the second thing is from a consciousness perspective, 626 00:33:28,480 --> 00:33:31,120 Speaker 1: and this is maybe a little more philosophical or abstract. 627 00:33:31,200 --> 00:33:34,400 Speaker 1: People are are clearly spending a lot more time at 628 00:33:34,440 --> 00:33:37,440 Speaker 1: home with their friends, you can, or with their friends, 629 00:33:37,440 --> 00:33:41,520 Speaker 1: with their families, or with themselves contemplating humanities places in 630 00:33:41,560 --> 00:33:44,840 Speaker 1: the world. And so in my mind, the consciousness that 631 00:33:44,920 --> 00:33:47,680 Speaker 1: comes from that, you know, perhaps will be to our benefits. 632 00:33:48,240 --> 00:33:50,960 Speaker 1: That being said, um, you know, it would be churlish 633 00:33:51,000 --> 00:33:53,239 Speaker 1: to to to say that, you know, somehow we're going 634 00:33:53,240 --> 00:33:56,480 Speaker 1: to benefit from this crisis, and clearly it's it's very 635 00:33:56,480 --> 00:34:00,280 Speaker 1: it's very serious. Um. What we do believe that, Um, 636 00:34:00,320 --> 00:34:03,280 Speaker 1: you know, some of the evidence points you will perhaps 637 00:34:03,280 --> 00:34:06,920 Speaker 1: give us some arguments to underpinning the trend. You know, 638 00:34:06,960 --> 00:34:10,800 Speaker 1: we believe we're already benefiting from Jamie Regal, CEO of Formula. 639 00:34:11,239 --> 00:34:13,719 Speaker 1: Thank you so much for taking the time out and 640 00:34:13,800 --> 00:34:15,959 Speaker 1: talking with us, and I enjoy it all the time 641 00:34:16,000 --> 00:34:19,359 Speaker 1: talking racing. Thank you, sir, Thank you gentlemen very much. 642 00:34:19,400 --> 00:34:21,400 Speaker 1: It was my pleasure to be would be really honored 643 00:34:21,440 --> 00:34:24,439 Speaker 1: to be on the show. So guys, what really jumped 644 00:34:24,480 --> 00:34:26,799 Speaker 1: out at me was, you know, here's a guy we 645 00:34:26,920 --> 00:34:30,160 Speaker 1: caught up with him in quarantine in Hong Kong. I mean, 646 00:34:30,840 --> 00:34:33,319 Speaker 1: this is a global sport in many ways, and there 647 00:34:33,320 --> 00:34:36,160 Speaker 1: are very few executives that I think we're dealing with 648 00:34:36,320 --> 00:34:39,080 Speaker 1: who are going to have to deal with this so comprehensively. 649 00:34:39,239 --> 00:34:42,280 Speaker 1: And by the way, it's a new league, and Michael, 650 00:34:42,320 --> 00:34:44,719 Speaker 1: as you pointed out, it was really sort of on 651 00:34:44,840 --> 00:34:50,280 Speaker 1: the upswing, and the popularity isn't going away. And maybe 652 00:34:51,280 --> 00:34:54,600 Speaker 1: the last point is he's got sort of a nice 653 00:34:54,640 --> 00:34:57,759 Speaker 1: tail wind behind him going into this of this whole 654 00:34:57,840 --> 00:35:00,359 Speaker 1: e revolution. Yeah, I I It's the thing I picked 655 00:35:00,440 --> 00:35:02,920 Speaker 1: up also is that this this sport was popular. I 656 00:35:02,920 --> 00:35:05,160 Speaker 1: could sit down and an early morning and um, and 657 00:35:05,280 --> 00:35:07,600 Speaker 1: this is live and I'm looking at this. It is 658 00:35:07,640 --> 00:35:10,400 Speaker 1: awesome to watch, and I love what he said about 659 00:35:10,840 --> 00:35:15,880 Speaker 1: the Motor Leader electric motor itself, about how the progress 660 00:35:16,320 --> 00:35:19,879 Speaker 1: is showing up more in passenger cars, and that's what 661 00:35:20,320 --> 00:35:22,879 Speaker 1: motorsports is all about. Doesn't make a difference whether it's 662 00:35:22,920 --> 00:35:26,560 Speaker 1: the Formula E League, whether it's NASCAR, Indie, all those 663 00:35:26,600 --> 00:35:31,000 Speaker 1: innovations have found a way into the passenger car. Heck, 664 00:35:31,040 --> 00:35:34,720 Speaker 1: even the rear view mirror was first used at Indianapolis 665 00:35:34,719 --> 00:35:37,640 Speaker 1: way back in nineteen eleven or twelve whatever, So it 666 00:35:37,640 --> 00:35:40,480 Speaker 1: shows you how all the technology comes to us today. 667 00:35:40,680 --> 00:35:43,160 Speaker 1: My first takeaway is that the rear view mirror originally 668 00:35:43,320 --> 00:35:47,560 Speaker 1: came from from from from motorsports. But seriously, I feel 669 00:35:47,600 --> 00:35:50,239 Speaker 1: like we buried the lead in this whole interview right there. 670 00:35:51,760 --> 00:35:54,359 Speaker 1: I did. I've been really interested over the past few 671 00:35:54,400 --> 00:35:57,320 Speaker 1: weeks to hear from folks within the sports world about 672 00:35:57,320 --> 00:35:59,360 Speaker 1: the things that they're doing to try to be innovative 673 00:35:59,400 --> 00:36:03,400 Speaker 1: now that may become permanent fixtures on their league, for 674 00:36:03,440 --> 00:36:05,880 Speaker 1: their team. Whenever, you know, we were returned back to 675 00:36:05,920 --> 00:36:08,880 Speaker 1: whatever normal looks like. And you heard Jamie talk about 676 00:36:08,960 --> 00:36:11,399 Speaker 1: some of the the eye racing that they're that they're 677 00:36:11,440 --> 00:36:14,720 Speaker 1: they're doing right now. Um, they're they're e sports events, 678 00:36:14,800 --> 00:36:16,839 Speaker 1: you know when they're on Fox Sports one in the US. 679 00:36:16,920 --> 00:36:20,520 Speaker 1: He said of the viewership that they were getting for 680 00:36:20,560 --> 00:36:23,160 Speaker 1: a traditional race, Obviously those things are not going to 681 00:36:23,239 --> 00:36:27,920 Speaker 1: replace the live racing events. But if there's a property 682 00:36:27,960 --> 00:36:30,239 Speaker 1: that they can do kind of between the margins in 683 00:36:30,280 --> 00:36:34,839 Speaker 1: their downtime with drivers, with celebrities, with a charity like Unief, 684 00:36:35,000 --> 00:36:37,000 Speaker 1: if they can roll all that up into a product 685 00:36:37,040 --> 00:36:39,120 Speaker 1: that's going to get fifty of the viewership that their 686 00:36:39,200 --> 00:36:41,920 Speaker 1: main main thing does, that's a that's a valuable thing 687 00:36:41,960 --> 00:36:43,680 Speaker 1: to have. And and he said, you know that those 688 00:36:43,680 --> 00:36:46,279 Speaker 1: are things that may find their way into Formula E 689 00:36:46,520 --> 00:36:48,600 Speaker 1: next year and the year after and the year after that. 690 00:36:48,920 --> 00:36:50,799 Speaker 1: So I do think that, you know, when we get 691 00:36:50,800 --> 00:36:52,960 Speaker 1: on the back end of this pandemic, we're gonna be 692 00:36:53,000 --> 00:36:54,480 Speaker 1: able to look back at a lot of the things 693 00:36:54,520 --> 00:36:57,319 Speaker 1: these leagues are doing now and say, oh, that that 694 00:36:57,400 --> 00:37:00,279 Speaker 1: came about because there was no racing and they did 695 00:37:00,280 --> 00:37:01,960 Speaker 1: a partnership with unite F and they did this and 696 00:37:02,000 --> 00:37:04,000 Speaker 1: it worked. So, you know, definitely interested to hear him 697 00:37:04,000 --> 00:37:06,040 Speaker 1: talking about, you know, the things they're learning now that 698 00:37:06,080 --> 00:37:11,320 Speaker 1: will be influential in their future in Germ. It feels 699 00:37:11,320 --> 00:37:13,160 Speaker 1: better to be number one than number five. I'll wear 700 00:37:13,200 --> 00:37:14,920 Speaker 1: a number because of Mike. We have a chance to 701 00:37:14,960 --> 00:37:16,440 Speaker 1: go for three in a row. Good numbers at a 702 00:37:16,560 --> 00:37:18,680 Speaker 1: good time. When I first started wearing the number, I 703 00:37:18,719 --> 00:37:22,600 Speaker 1: would just have the Bloomberg business of sports. The number 704 00:37:22,640 --> 00:37:25,200 Speaker 1: of the week. Time now for the number of the week. 705 00:37:25,680 --> 00:37:29,520 Speaker 1: Hello Jason, and welcome to this segment. And is something 706 00:37:29,600 --> 00:37:33,000 Speaker 1: that I'll give you a hit. This is something that's 707 00:37:33,120 --> 00:37:37,000 Speaker 1: very timely. Is three hundred forty seven? Is that dollars 708 00:37:37,080 --> 00:37:40,160 Speaker 1: or just three seven? This is just three hundred forty seven. 709 00:37:40,160 --> 00:37:42,680 Speaker 1: This is very timely. No, I know this one. This 710 00:37:42,719 --> 00:37:44,319 Speaker 1: is the number of days it's been since there's been 711 00:37:44,320 --> 00:37:48,279 Speaker 1: live sports in the US. Well close or does it 712 00:37:48,400 --> 00:37:50,960 Speaker 1: just feel that way? It feels it definitely feels that way. 713 00:37:51,160 --> 00:37:54,279 Speaker 1: Threety seven. I mean it could it be like how 714 00:37:54,360 --> 00:37:56,879 Speaker 1: many people are actually going to be at a pro 715 00:37:57,000 --> 00:37:59,640 Speaker 1: football game when it actually kicks off in the fall. 716 00:38:00,040 --> 00:38:02,480 Speaker 1: You know what you're on You're on track. You're on 717 00:38:02,560 --> 00:38:07,560 Speaker 1: track when you said pro football three US. I gotta 718 00:38:07,600 --> 00:38:12,799 Speaker 1: pay homage to the great Don Shula and who just 719 00:38:13,080 --> 00:38:17,520 Speaker 1: passed U several days ago, winning ist in the NFL 720 00:38:17,640 --> 00:38:21,200 Speaker 1: threety seven victories with the Baltimore Coats, and of course 721 00:38:21,239 --> 00:38:25,040 Speaker 1: the Miami Dolphins who have the perfect seventeen and oh 722 00:38:25,120 --> 00:38:30,000 Speaker 1: season in the nineteen seventy two season. Bill Belichick is 723 00:38:30,640 --> 00:38:33,400 Speaker 1: the active coach right now with three hundred four victories 724 00:38:33,440 --> 00:38:36,719 Speaker 1: and twenty five seasons and still going strong. So let's 725 00:38:36,719 --> 00:38:41,560 Speaker 1: see if Belichick can catch Shula, who was great. He 726 00:38:41,640 --> 00:38:45,680 Speaker 1: died at age ninety. You've been listening to Bloomberg Business 727 00:38:45,680 --> 00:38:48,279 Speaker 1: of Sports, but here each and every week at the 728 00:38:48,320 --> 00:38:51,400 Speaker 1: same time, plus online wherever you get your podcast, you 729 00:38:51,440 --> 00:38:55,239 Speaker 1: can catch those Mondays, Wednesdays and Thursdays. Michael Barr on 730 00:38:55,280 --> 00:38:57,800 Speaker 1: Twitter at Big Bar Sports, and I'm Jason Kelly. You 731 00:38:57,840 --> 00:39:00,880 Speaker 1: can find me on Twitter at Jason Helly News and 732 00:39:00,920 --> 00:39:03,440 Speaker 1: I'm Eben Novi Williams. You can follow me on Twitter 733 00:39:03,560 --> 00:39:06,640 Speaker 1: at nov Underscore Williams. Tune in again next week when 734 00:39:06,640 --> 00:39:09,239 Speaker 1: we continue to speak with the biggest and brightest in 735 00:39:09,239 --> 00:39:12,720 Speaker 1: the sports business world. You are listening to Bloomberg Business 736 00:39:12,760 --> 00:39:15,600 Speaker 1: of Sports from Bloomberg Radio around the world.