Formula 1 continues its global expansion, solidifying its position at the top of the rankings for the most-followed sports around the world. According to the latest analysis by Nielsen Sports, the number of fans has reached 826.5 million in 2024, an increase of over 75 million compared to the last year-end report (+10%).
Expansion in emerging markets
The globalization strategy adopted by Liberty Media under the leadership of Stefano Domenicali (recently confirmed as CEO until 2029) is delivering tangible economic results. In China, for example, the return of Shanghai to the calendar has contributed to a nearly 40% increase in the local fan base. Canada has also seen remarkable growth, with a 31.5% increase, while in the United States, the number of fans has reached 52 million (+10.5%), also thanks to the presence of three GPs in the country (Austin, Miami, and Las Vegas).
More women and younger fans
A significant trend concerns the demographic composition of fans: 41% are women, and the 16–24 age group is the fastest-growing segment. The Netflix series Drive to Survive (here’s the review of Season 7 by Matteo Senatore) continues to positively influence engagement with Formula 1: 35% of survey participants reported an increased interest due to the series, while 25% became fans after watching it.
Future prospects
The growing popularity of Formula 1 has also had positive economic repercussions. Team sponsorships have seen a significant increase, with the average deal value rising from $2.87 million in 2019 to $5 million in 2024. IT sector partnerships have surged from 3% to 20%, while financial services sponsorships have climbed from 2% to 17%.
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