Liberty Media Corp Q1 2021 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: David Karnovsky - JPMorgan Chase & Co, Research Division - Analyst : On F1, we've seen Disney move to shut down and Star Sports channels in parts of Asia. Just kind of interested to know how this impacts you first directly as I believe they carry the series, but at a higher level, how you think this pivot to streaming will impact demand for sports content in some of those regions? And then maybe just separately, Stefano, as you noted, viewership seems to be at a nice uptick through the races so far. Would be interested to get your thoughts on how much you attribute this to the Red Bull, Mercedes dynamic versus kind of the actions that you've taken off the track like Drive to Survive, like the social media outreach?

Question: David Karnovsky - JPMorgan Chase & Co, Research Division - Analyst : Sure. Yes. Sure. The question was about Disney and their move to shut down Star Sports. I think in parts of Asia, just wondering how that impacts you directly and then just your higher level thoughts on pivot to streaming and kind of what that means for demand.

Question: David James Beckel - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : I have 2 on F1. Just wanted to talk a little bit about the Sprint race format, maybe get a little bit of the thinking behind that. It obviously adds incremental value to your partners, but more specifically as it relates to future economics Do you expect this to add to the value you receive from your partners? Or is it more a part of just adding value to existing agreements? And then secondarily, going back to the U.S. market and with the TV deal in play in a few years, I'm sure you paid attention to what WWE did with Peacock. I'm wondering if there's potential to sort of leverage the F1 TV over-the-top platform in a way that can sort of augment the broader value of your U.S. broadcast and overall TV distribution rights.