Formula 1 has seen an increase in popularity, which has resulted in a boost in revenue. Following the immense success, the FOM’s first move to take advantage of rising popularity was to hike F1 ticket prices. Since 2021, the ticket price has skyrocketed, causing outrage among supporters. However, it now appears that the water level has risen above the head. The situation has only gotten worse since the recent news regarding the $360 Dutch GP ticket surfaced on the internet.
The issue of growing ticket costs, which eventually add up to fans’ large financial burden instead of a small excursion to an F1 race, has been brought up several times. In addition to the rising fares of tickets, the host cities and hotels are becoming notorious for raising rates when F1 visits the respective towns. However, now, after boosting the prices of the Dutch and British Grand Prix, FOM’s next extravagant plan is to raise Las Vegas ticket prices.
According to recent reports, the Las Vegas Grand Prix will sell tickets for around $1600. Considering that the Las Vegas GP is one of the most anticipated races in recent years, ticket prices will be among the highest seen thus far. Despite the fact that the race week begins on the 17th of November, all tickets have been sold out. However, some of the remaining categories in which seats will be offered still remain, and to sell them, the stakeholders have taken a unique approach. The FOM will be marketing tickets via various sites, including a European sales agent.
How the $360 Dutch Grand Prix ticket price differs from other ticket costs
In 2021, F1 returned to Max Verstappen’s backyard for the Dutch Grand Prix. The last time a race was held at the Zandvoort circuit was back in 1986. Nonetheless, as the sport’s popularity has grown, fans have begun to flock in great numbers to show their support for their favorite F1 drivers. However, in exchange for all of the affection that fans have shown by coming to see the fast cars go Zoom, the FOM is going to charge a high fee for each entry. According to a viral Reddit piece, in light of F1’s recent success, stakeholders have raised ticket prices for the Dutch GP season in 2024 to $360.
Soaring ticket costs are nothing new for F1 fans, as they have been the case for practically every venue on the F1 calendar. Similarly to how they acquired tickets from third parties for the Las Vegas race, the FOM made seats available to fans for the Miami GP. The racing circuit, which opened last year, provides the second-most expensive F1 tickets. According to recent reports, the three-day pass (general admission) costs $590.
Aside from that, the Silverstone GP also witnessed a huge turnout as fans came to see their favorite driver cruising on the F1 tracks. Remarkably, the race at Silverstone has increased by 238% in the last five years, rising from $231 to $448 this year and $499 in 2024. Despite the fact that the sport has gained a lot of fans in recent years, while the number this year is 757% more, the presence on the paddock is decreasing. While compared to last year’s footfall of 400,000, Silverstone had merely 80,000 fans attending this year’s event.
What happened at the Miami GP earlier this year?
Away from the railroad tracks, Miami is also one of the most expensive vacation destinations in the United States. However, if we want to go to a huge event like Formula 1, we’ll have to dig deep into our pockets. According to certain accounts, the authorities spent a lot of money in Las Vegas before visualizing the circuit for the next ten years. However, before the Vegas track, it was the Miami Grand Prix that became the focal point of all FOM efforts.
Subsequently, with the efforts and arrangements made this year, the Miami Grand Prix attracted a large number of celebrities, including the likes of Shakira and Tom Cruise. As a result of this year’s success, the general entrance price for next year’s Miami GP is kept at $590, while the grandstand admission will cost $750.
Given that 270,491 fans attended the Miami GP race, the tickets were initially sold out. However, much as the FoM organized the Las Vegas race by allowing a third-party aggregator to take control, the Miami Grand Prix was also managed in the same manner. The authorities sold the tickets through different methods, including European sales agents.
Having said that, it remains to be seen whether the FOM continues to capitalize on its growing popularity or reduces ticket prices so that fans may come and experience some of the finest racing efforts.
