Formula One is growing, with particularly strong increases in the US and China – CEO Stefano Domenicali talks about records, new target groups and global success
Formula One is experiencing impressive growth in several key markets worldwide. In a conference call on the latest quarterly results (available on Investing.com), CEO Stefano Domenicali emphasized that the US and China, in particular, are among the regions with the strongest growth.
This is reflected in both the increasing number of TV viewers and the growing engagement on digital platforms in these countries.
According to Domenicali, the US market remains the largest for Formula One’s own TV service, which saw a 15 percent increase in subscribers in 2024. In China, too, the number of viewers is growing significantly.
The CEO explains: “We saw TV growth, particularly in China, Canada, Australia, Argentina and the Middle East, while also continuing to expand our European fan base.” The cumulative viewership across all Grands Prix in the 2024 season was 1.6 billion worldwide, with the number of unique viewers increasing by nine percent year-on-year.
Strong growth in young and female fans
A further indicator of the dynamic growth of Formula One is the development of the fan base. Domenicali refers to a study by Nielsen, according to which Formula One is the most popular sports series in the world with over 750 million fans.
“Younger and female fans are growing the fastest – a statistic that only a few sports can boast,” Domenicali emphasizes in this context. In the last five years, the number of fans under 35 and female fans has grown by more than 50 percent, particularly in markets such as the US and China.
Formula One’s success is also evident on digital platforms. “If we look at comparable social media platforms where all major sports are represented, Formula One was the fastest growing global sports league for the fifth year in a row,” Domenicali concludes.
Digital and on-site audiences are growing
The racing series reached a total of four billion people worldwide through targeted media activities. In addition, almost 500 million people watched Formula 1 content on streaming platforms, including 230 million who followed YouTube highlights on the official Formula 1 channel.
Not only the virtual numbers are impressive, but interest in Formula 1 continues to grow on the ground as well. Domenicali explains: “Strong spectator interest and positive trends continued throughout the season. In 2024, we had 17 sold-out race events and ten new spectator records.”
A total of over 6.5 million fans attended the races, a new record and an increase of 9 percent compared to 2023. Particularly noteworthy are four races where more than 400,000 fans were present. In addition, the exclusive Paddock Club reached a new high of 58,000 guests, a 20 percent increase over the previous year.
It is clear that Formula One is on the road to success in many markets. The USA and China, in particular, are acting as growth engines. Thanks to a targeted strategy in the areas of TV, streaming and social media, it is possible to tap into new target groups and further expand global reach.
