Formula 1 looks to reach a billion fans by 2022

The continuing expansion of Formula One racing since Liberty Media took on its ownership has been confirmed by new research that anticipates that a billion people will claim an interest in the sport by April 2022.

The Nielsen Sports’ report found interest in the global motor racing series was driven by young people, sparked by F1's growing social media engagement and Netflix’s successful 'Formula 1: Drive To Survive' series.

The research found 77% of the growth came from the 16 to 35 age group, which is equivalent to 46% of F1’s fandom in 2021.

On top of Netflix’s docuseries, last year’s ‘Virtual Grand Prix’ was also reportedly a hit among young viewers.

While races were suspended amid the initial stages of COVID-19, drivers including Lando Norris, Charles Leclerc George Russell, and Alex Albon all streamed via Twitch to interact with fans during the break.

This directly contributed to the rise of popularity in the sport in March 2020, where interest amongst the 18-35 age group increased from one in four to one in three people.

The sport’s ‘We Race As One’ initiative was also cited as a key reason behind F1’s newfound attractiveness.

The report revealed that F1’s promotion of diversity, sustainability and inclusion is aligned with the views of young people, the report revealed.

Advising that online and social media have played a major part in making the sport appealing to young people, Nielsen Sports Head of Rights Holders, Tom McCormack explained “Formula One continues to benefit from its strategy of expanding its content offering – through additional peripheral and story-telling programming – which appeals to that 16 to 35-year-old market.

“The current grid of young, social media savvy drivers, like Lando Norris, is helping to reach new consumers through platforms such as Twitch and YouTube.

“By embracing these platforms – as well as OTT services such as Netflix, with its Drive to Survive series – Formula One is now well-poised to convert newcomers to the sport to long-term fans and generate unprecedented interest levels.

“F1’s ongoing commitment to its #WeRaceAsOne initiative, which focuses on sustainability, diversity, inclusion and community, also speaks to that younger demographic who place high value on those issues."

F1 director of research and analytics, Matt Roberts, said the research highlights what F1 is doing right, adding “Nielsen’s research is important in the understanding of our sport, and how fans are engaging with it.

“The increase in interest we have seen is hugely encouraging and reinforces F1 as one of the leading global sports properties.

“In particular, the growth in interest among 16–35 year-olds shows that F1’s commitment to digital, social and Esports programmes are having a tangible impact."

Under Liberty Media's ownership, F1's focus on a younger demographic and social is in contrast to the approach of previous Formula One head Bernie Ecclestone, who, in 2014, dismissed suggestions that the motorsport series should do more to embrace a younger generation of fans by stating they are the wrong target market for the sport’s commercial partners.

Facing then-declining television audiences, Ecclestone suggested that engaging more proactively with social media would not work, stating “I'm not interested in tweeting, Facebook and whatever this nonsense is.

“(Are) you're telling me I need to find a channel to get this 15-year-old to watch Formula One because somebody wants to put out a new brand in front of them? They are not going to be interested in the slightest bit.

“Young kids will see the Rolex brand, but are they going to go and buy one? They can't afford it. Or our other sponsor, UBS - these kids don't care about banking. They haven't got enough money to put in the bloody banks anyway.

"That's what I think. I don't know why people want to get to the so-called 'young generation'. Why do they want to do that? Is it to sell them something? Most of these kids haven't got any money.

“I'd rather get to the 70-year-old guy who's got plenty of cash. So, there's no point trying to reach these kids because they won't buy any of the products here and if marketers are aiming at this audience, then maybe they should advertise with Disney.”

Lower image: Bernie Ecclestone.