In the wide world of commercialized sports, one demographic that companies have struggled to grasp is young women. But Formula 1 may have cracked the code to harboring a strong fanbase of women.
While women’s interest in cars and racing is nothing new (our very own Elena Cardone has her own connection with hot rods)…
Formula 1 isn’t just catering to female fans, they’re putting women in the driver’s seat.
The Phenomenon Of Formula 1 Women
In November of 2022, 40% of global Formula 1 fans were women.
The number is a stark difference from 2017 when Liberty Media first bought F1. Since then, female viewership is up 8%.
When Liberty Media acquired Formula 1, they purchased the racing company for $8 billion, including debts. Since then, they’ve been on a mission to not only revive F1 but bring in new, younger audiences…
That meant cracking into female demographics.
They created new social media strategies, streaming services to watch races, and a Netflix docuseries “Drive To Survive”. All strategies have increased viewership, sponsorship, and interest in F1 racing…
PROBABLY THEIR BIGGEST INITIATIVES HAVE SURROUNDED SUPPORTING WOMEN’S INVOLVEMENT IN RACING.
Starting in 2023, Liberty Media launched the Formula 1 Academy. It’s mission is to give women the opportunity to compete in higher levels of racing competition. Not only that, but the program is also helping cover the cost of the cars.
Beyond the racetrack, the initiative also aims to put women on the staff of racing teams.
When you consider the fact that the last female woman to race in F1, Lella Lombardi, was in 1976…
IT MAKES SENSE THAT THE COMPANY WOULD BANK ON WAYS TO GET FEMALE DRIVERS ON THE TRACKS.
Female Fanbase Driving Success
Off the race track, Formula 1 has been rising in popularity among women online.
On a typical race day, F1 might have around 40 million social media interactions…
Most of them coming from young women.
In fact, about 70% of F1 Instagram followers are under the age of 35.
While this fanbase is new and booming, fans and members of the industry are delighted to see what’s coming next:
It is an exciting time to be associated with the racy male-dominated sport and many women are actively engaging in discussions about drivers on TikTok and Instagram
– Cindy Riccio, an executive vice president at 360PR+
This phenomenon of female fans growing in sports is not just in F1. This year’s Superbowl hit record female attendance, partially thanks to Taylor Swift’s appearances.
In the world of basketball, Caitlin Clark’s talents have brought in record viewership to collegiate women’s basketball…
Gaining higher viewership than men’s games.
So it goes without saying that clearly the exclusion of women in sports, as fans and players, is not just backward…
IT’S BAD FOR BUSINESS.
It seems that Formula 1’s fanbase of women is not going anywhere and could potentially encourage more female drivers out on the track.
Which just goes to show that nothing great happens without inspiration.
Be Great,
GCTV Staff
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