According to a study by Buzz Radar, there has been a significant decline in interest in F1 in 2023
However, other sources suggest that F1’s popularity is plateauing rather than declining and that the sport is still growing in some areas.
The FIA must identify and address the issues causing any decline in viewership to maintain its momentum and expand its fanbase and valuation.
It may be a coincidence, but Max Verstappen’s overwhelming success on track contrasts with a drop in F1 TV viewers.
Assuming all the cars are competitive, then F1 can truly be promoted as a competition to find the best driver.
Sadly, this isn’t the case.
If a team has a technical advantage and one of the best drivers of all time, then there is no real competition.
The real competitive racing will be in the mid-field, which is different from what the loyal fan base wants.
The prominent market for F1 and the FIA is America. Last year, the viewing figures were the largest US audience for a live F1 broadcast.
This year, ABC lost as much as a quarter of its audience compared with last season.
According to the US newspaper New York Times, this may be because it is ‘duller-than-usual’, thanks to Red Bull Racing’s dominance.
The results are entirely at odds with Netflix’s successful ‘Drive to Survive’, where F1 is a drama-fuelled spectacular.
Formula 1: Where the thrill of anticipation often meets the disappointment of expectation.