The third most-followed sporting event globally, after the Olympics and the FIFA World Cup. That, by the numbers, is Formula One—a sport with worldwide visibility that, despite its already extraordinary reach, continues its rapid growth across the globe. As stated at the outset, it now ranks among the most-watched sports. According to the latest analysis by Nielsen Sports, the number of fans following the premier motorsport series has recently reached an impressive 826.5 million. These 2024 figures represent an increase of over 75 million compared to the previous year’s report—an annual growth of approximately 10%.
Growth is Global
This continuous and steady rise is the result of Liberty Media’s global expansion strategy, led by F1 CEO Stefano Domenicali. With the Italian executive confirmed as CEO until 2029, this strategy will continue for years to come, delivering tangible and record-breaking economic results. For example, despite traditionally low popularity in China, F1 has seen nearly a 40% increase in its local fan base. Similarly, Canada has recorded a 31.5% growth, while in the United States, the number of F1 enthusiasts has reached 52 million. This surge is undoubtedly supported by the presence of three U.S. Grand Prix events in Austin, Miami, and Las Vegas.
Appealing to Younger Audiences
Beyond global expansion, the demographic composition of F1’s fan base is also evolving. Statistics show that 41% of fans are women, and the sport is seeing a rapid decline in the average age of its followers. The 16 to 24-year-old demographic is the fastest-growing segment, a trend likely fueled by Netflix’s Drive to Survive, which continues to play a key role in attracting younger audiences to Formula 1 and motorsport in general. Approximately one in three young fans has reported increased interest in the sport due to the series, while one in four became a fan after watching it. This surge in popularity has had positive economic repercussions, with team sponsorship values rising significantly—from an average of $2.87 million in 2019 to $5 million in 2024.
Leave a Reply