Bloomberg Talks: Mercedes-AMG Petronas F1 CEO Toto Wolff & PepsiCo's Eugene Willemsen Talk F1
Date: December 5, 2025
Host: Bloomberg
Guests: Toto Wolff (CEO, Mercedes-AMG Petronas F1 Team), Eugene Willemsen (CEO, International Beverages, PepsiCo)
Episode Overview
This episode spotlights the strategic partnership between Mercedes-AMG Petronas Formula 1 Team and PepsiCo, with a focus on reaching a younger, more diverse audience and tapping into Formula 1's global expansion. The discussion explores changing F1 demographics, the business logic behind the collaboration, the value of sports science, and the commercial prospects for both organizations amid F1’s transformation into a mainstream entertainment powerhouse.
Key Discussion Points & Insights
1. The Changing Landscape of Formula 1
- Rapid Shift in F1 Audience (01:06–01:47):
- Toto Wolff highlights the sport's dramatic demographic shift in recent years.
- Strongest audience growth is among young fans and women, especially females aged 15–24.
- Female fans now comprise 42% of Mercedes F1's total fanbase.
- Social media engagement is "contrary to the past," with current young drivers actively engaging fans online.
- Media phenomena like "Drive to Survive" have fueled F1’s mainstream appeal.
Quote:
“Our strongest growing audiences are very young people, females between 15 and 24, and our female fan population is 42% of the total.”
— Toto Wolff [01:18]
2. PepsiCo’s Strategic Entry into Formula 1
- Timing the Move (02:11–02:58):
- Eugene Willemsen explains why now is the opportune moment for PepsiCo’s entry.
- F1’s rapid global growth: 1.6 billion fans, 21 countries, 24 races.
- Partnership aims to tap into expanding, youthful markets, and leverage the synergy between three PepsiCo brands—Gatorade, Sting, Doritos—and F1’s audience.
Quote:
“Formula One is a fantastic platform … We feel now is the right time for us to come into the sport. … And very much looking forward to tap into this growing fan base across the world.”
— Eugene Willemsen [02:14]
3. Reaching New Customers and Emerging Markets
- Capitalizing on the F1 Platform (03:09–04:26):
- PepsiCo sees F1 as a gateway to emerging markets with rapidly expanding fan bases.
- F1 now attracts an almost 50/50 gender split—rare among global sports audiences.
- Gatorade will be the flagship brand within the partnership, with a focus on leveraging its sports science pedigree to support F1 drivers’ peak performance.
- Gatorade’s sports-science legacy (“60 years … starting at the University of Florida with the Gators”) is pitched as a value add for driver performance.
Quote:
“Specifically with Gatorade … a unique opportunity to help fuel the drivers and help them perform at their peak. As you know, drivers lose a lot of body weight during the races. … Looking forward to bring that sports science to the world of Formula One.”
— Eugene Willemsen [03:44]
4. Monetization & Future Growth of F1 Teams
- F1 as a Maturing Business (04:26–06:32):
- Wolff discusses the commercial growth and stability of F1.
- All races are sold out; huge attendance highlights (e.g., 440,000 at Austin, the largest U.S. event).
- Sponsorship, promotion, and media contracts now offer predictability (three to ten-year deals).
- F1’s evolution must be managed carefully; balance between growth and preserving the sport’s core.
- On team ownership: Wolff references recent sales but emphasizes long-term family and partnership commitment—“not just a venture capital play.”
- Strategic partnership with George Kurtz (CrowdStrike) to boost U.S. reach.
Quotes:
“Formula One continues to grow very strong. We have all races are sold out. … The contracts that we sign … are very predictable. … So that’s why let’s say in the mid-term we have good visibility.”
— Toto Wolff [05:07]
“The sport needs evolution or evolution and we need to, you know, handle it with great care.”
— Toto Wolff [05:42]
5. Lighter Moments & Outlook
- Season Finale Predictions (06:32–06:48):
- Prompted to predict the race outcome, Wolff supports his own driver, George Russell, but notes he'll also just be watching the fierce competition unfold.
Quote:
“Well, I hope that George can win the race and beyond that I would be just like a fan and getting my popcorn out and watching what happens to the other three guys.”
— Toto Wolff [06:39]
Notable Quotes (With Timestamps)
- Toto Wolff [01:18]: "Our strongest growing audiences are very young people, females between 15 and 24, and our female fan population is 42% of the total."
- Eugene Willemsen [02:14]: "Formula One is a fantastic platform ... We feel now is the right time..."
- Eugene Willemsen [03:44]: "Specifically with Gatorade ... a unique opportunity to help fuel the drivers and help them perform at their peak."
- Toto Wolff [05:07]: "Formula One continues to grow very strong. We have all races are sold out..."
- Toto Wolff [05:42]: "The sport needs evolution or evolution and we need to, you know, handle it with great care."
- Toto Wolff [06:39]: "Well, I hope that George can win the race and beyond that I would be just like a fan and getting my popcorn out..."
Timestamps for Key Segments
- 01:06 — Toto comments on changing F1 audience and brand alignment
- 02:11 — Eugene lays out PepsiCo's rationale for entering F1 now
- 03:09 — Discussion on reaching new, global, and Gen Z audiences
- 04:26 — Wolff breaks down the business transformation and future of team ownership
- 06:32 — Lighthearted race weekend prediction from Wolff
Conclusion
This episode provides insight into the commercial alliances reshaping Formula 1 and highlights how both legacy brands and recent commercial entrants are evolving to engage new, global, and diverse fanbases. The partnership between Mercedes F1 and PepsiCo exemplifies this shift, harnessing sports science, digital media, and demographic momentum while maintaining long-term business strategies and a passion for the sport.