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Formula One (F1) is experiencing a significant shift in its fanbase, with the popular Netflix Inc (NASDAQ:NFLX) series “Drive to Survive” playing a pivotal role. The show has not only attracted a more diverse audience but has also transformed the way fans engage with the sport.
What Happened: The impact of “Drive to Survive” on F1’s fanbase. The show, which debuted in 2019, has been credited with not only popularizing F1 in the U.S. but also revitalizing the sport itself, reported CNBC.
However, the show’s influence extends beyond the U.S. A Nielsen analysis revealed that “Drive to Survive” only added around 360,000 new viewers to the Miami Grand Prix in 2021, a relatively small increase. The show’s true impact, it seems, lies in creating F1 fans out of the 71 million Americans who don’t watch the races.
"There isn't just one way to be an F1 fan anymore," Toni Cowan-Brown, an F1 commentator and content creator, said according to the report. "Drive-to-Survive sparked this interest in F1 during lockdown, which people then took online, creating this community of content creators who were able to show people a totally new side of the sport," she said.
Today, F1 fans are estimated to be around 40% female, a significant increase from the mere 8% in 2017. Additionally, the fan base is now much more culturally diverse.
Zak Brown, McLaren CEO, attributed this shift to platforms like Netflix, which have expanded the audience to include more females, younger individuals, and North Americans. Brown believes that this trend is just the beginning.
Content creators have played a crucial role in engaging this new fanbase. Influencers and creative agencies have been instrumental in showcasing the human stories and lifestyle of motorsport, making F1 more accessible and relatable to a wider audience, according to the report.
Why It Matters: The success of “Drive to Survive” is particularly noteworthy given the recent price hike concerns among Netflix users. Despite these concerns, the streaming giant has continued to attract new subscribers, with a significant increase in subscriber numbers in the first quarter of 2024.
Analysts believe that Netflix’s strong performance could lead to a monetization of 40 million borrowers by the end of 2024, indicating a potential for over 25% upside in the stock. This suggests that Netflix’s original content, such as “Drive to Survive,” continues to be a significant driver of the company’s growth and success.
The changing demographics and engagement patterns of F1 fans also have implications for the sport’s future. As F1 continues to expand into new territories, such as China, its social media strategy will play a crucial role in engaging and retaining these new audiences.
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