F1 is also known for its high price of admission. For example, tickets for the Nov. 19 race in Las Vegas started at $500 for standing room only general admission and jumped to more than $10,000 for some VIP packages. Given the exorbitant cost of entry before factoring in concessions and merchandise, F1 must find creative ways to allow curious consumers to experience and engage with the sport, especially if it wants to attract new audiences.
To start, F1 should meet sports fans where they already are by aiming to establish or increase its visibility at high-traffic U.S. sporting events, since it’s likely easier to turn sports enthusiasts on to an unfamiliar sport than nonfans. There’s also an opportunity to educate consumers on F1’s long and dramatic history, from the evolution of car construction to compelling race moments, which were the top areas of interest when we asked U.S. adults what aspects of F1 they’d like to learn more about. A traveling museum on wheels could be a clever, attention-grabbing way to engage potential new fans across the country.
The most effective method might be to showcase the sport’s drivers and their personalities via cross-promotional opportunities with Hollywood stars or top athletes in other sports, similar to the NFL’s “helmets off” marketing strategy, which caters to younger audiences. For example, British racing legend Lewis Hamilton has close ties to Brazilian soccer star Neymar and seven-time Super Bowl champion Tom Brady. Other U.S. marketing initiatives could include meet-and-greets with F1 drivers, a personal touch that could spark long-term fandom.
In terms of starmaking, F1’s top drivers have yet to break through to American audiences. None of the 21 drivers in our survey, including all-time greats Hamilton and Verstappen, had name recognition among a majority of U.S. respondents. It would behoove F1 to concentrate on crafting stories around their drivers beyond the confines of Netflix to increase awareness and, if all goes right, elevate a star to a household name.
F1 could also lean further into the marketing of its EA Sports video game to help form a bond with younger consumers, who could find a new favorite motorsport athlete while playing. The latest installment, June’s F1 23, was well received by critics, so there’s little risk of poor gameplay being a barrier.
If F1 drivers become more recognizable to American audiences, fans will likely be more inclined to tune in and watch on any given Sunday.
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