Formula 1 becomes most popular sport in the world: 750 million fans, 41% of whom are women
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Nielsen Sports has released a report on interest in Formula 1.
Who watches Formula 1?
According to the analysis published by Nielsen Sports, Formula 1 is the most popular sport in the world, with 750 million fans worldwide. This represents a continuous growth of 5.7% compared to the most recent data from 2021, with an increase of 50 million people. Among this fan base, there is a significant female representation, reaching 41% of the total. The fastest-growing demographic group is those aged 16 to 24.
This trend has naturally translated into an increase in sponsorships, which are pouring into the category. Compared to pre-pandemic levels, the average value of a partnership agreement for teams has risen from $2.8 million to $5 million, with a notable increase in the average duration, which has gone from 3 to 5 years. Sponsorships from the IT sector have risen (from 3% to 20%) as well as from financial services (from 2% to 17%), with title sponsors of top teams now generating an average of over $6 million in media value per race.
Formula 1 markets
In the UK, F1 has grown by 2.3%, and in Germany by 4.5% over the past twelve months. However, it is in the Middle East that the category has seen a sharp surge in interest. It is no coincidence that the Gulf region hosts four GPs (which opened and will close the championship: Bahrain, Saudi Arabia, Qatar, and Abu Dhabi), that Aramco has become more than just a partner for Aston Martin, and that Qatar's sovereign wealth fund recently acquired a 30% stake in Sauber-Audi F1.
In Saudi Arabia, there was a 10% increase in male viewership and an 11% increase in female viewership: "This growth can largely be attributed to the change in how teams and drivers are represented and their new global accessibility," explained Jon Stainer, global managing director of Nielsen Sports.
The important role played by Drive to Survive remains: 25% of fans say they became passionate about the category after watching the Netflix series. The research was conducted across 37 markets and involved 46,000 people.
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