This week at the Foro Sol in Mexico City, five days filled with events attracted crowds, with two shows of British culture that managed to fill the venue and generate millions of dollars. At these events, people not only bought souvenirs but also paid for the experience of enjoying ideas and entertainment forged decades ago across the ocean.
In the orange economy, Mexicans have the opportunity to expand their businesses globally, benefiting from new partners and better contracts. Activities such as music and motorsports are, at their essence, hobbies and games, but with proper organization and marketing strategy, they become profitable businesses. This same logic could be applied to cultural activities such as cinema, in a world where platforms like Netflix are changing the way we consume entertainment.
Recently, the remarkable financial performance of Formula 1 so far this year was highlighted, with a 15% increase in revenue. This demonstrates the potential of the entertainment industry to generate significant economic benefits and opportunities for entrepreneurs in Mexico and around the world.
The orange economy includes writers, artists, designers, and other creative professionals whose main value lies in the intellectual property they generate. From concerts by artists like Paul McCartney that generate millions of dollars and employment, to cultural events like the celebration of the Day of the Dead that can attract tourists and boost the local economy, this sector offers opportunities for projects of all sizes.
Formula 1, emerged with figures like Bernie Ecclestone, has proven to be a lucrative business, with successful teams based in the United Kingdom. Liberty Formula One, the current owner of the event, has reported quarterly revenues of 911 million dollars as of September, reflecting the economic potential of the sports and entertainment industry worldwide.
