I don't enjoy the channel 4 coverage which is why I am doing a sports bar of late.
Benson wrote an article in January 2018 regarding the Liberty strategy and the fall in audiences.
https://www.bbc.co.uk/sport/formula1/42816877
He rightly points out the attraction to the manufacturers is the size of the global audience which is only beaten by the Olympics and FIfa World Cup, neither of which are annual. The Sky contract runs till 2024 and is reportedly worth 200m a year to Liberty.
For the Manufacturers,
Mercedes car sales rose by 7.8% in AsiaPac in 2018, with declines in Europe and NA resulting in a total sales increase of only 0.9%
Renault grew car sales W/W by 3.2% in 2018 with AsiaPac growing by a whopping 68.3%. Renault are also seeing an increase in the NA market too. The objective of Liberty was reported to introduce OTT, popular with US audiences for NFL. Again a paid for service.
Based on this the manufacturers are going to be heavily interested in the AsiaPac audiences, less so Europe.
I went to business school in Singapore, they see the world differently to you and I. Very AP centric, as you would expect, with Europe only as an enabler for branding. That was a while back and may be changing but must still hold true to a degree. F1 is a brand, do Liberty really care so much about the jobs here in the UK?
In my opinion the discussions behind closed doors are more commercial than quality of racing. If F1 drives up the AsiaPac audience (very surprised about the India GP not running anymore) it helps the Manufacturers. Obviously quality of racing is important but I doubt we have the power we think we have. F1 is not the big influencer to car choice in Europe in the same way as it might be in other regions of the world.
However, that all said, declining audiences in Europe, of significance, must be a worry and that is already happening. Not yet convinced Liberty get the history of F1 and its birthplace. For the manufacturers this is more about car sales than racing.