Liberty Media taking over Formula 1 was considered to be a push in the direction of a renewed sport, one that would appeal to the younger generation and bring in a more global appeal to the sport.
In all fairness, Liberty Media has done everything in its power to try and achieve that dream, but the results haven’t quite followed post the end of their first two seasons in charge.
Formula 1’s social media activity has seen a massive upsurge, largely in a bid to appeal to viewers under 25. However, in a recent ‘Reddit AMA’ by Formula 1 research director, it has been revealed that only 14% of its viewers are under the age of 25.
Along with a social media upsurge, F1 is now also streaming its races online and is also being promoted with its first ever marketing campaign.
According to the data revealed by Matt Roberts, ‘the average age of a global F1 viewer is 40. 14% are under 25, 30% are 25-34, 20% are 35-44, 20% are 45-54 and 17% are over 55. The average age is higher in more established markets like the UK, Italy and Germany whilst it is youngest in newer F1 markets like USA and China.’
ICYMI our @forbes news includes an interview with @F1's research director who reveals that:
* 14% of TV viewers are under 25
* "Not many people" saw #F1's first-ever ad
* 70% of viewers switch off by the podium
* Range of F1 toys "being looked at for 2019"https://t.co/Pep6chG1o7— Formula Money (@FormulaMoney) January 14, 2019
In 2018 @F1 launched its first marketing campaign spearheaded by @ChikinCS who said "it's literally to keep people engaged." It was described as a "standout" piece of engagement but #F1's research director has now revealed that "not many people saw the ad"https://t.co/Pep6chG1o7
— Formula Money (@FormulaMoney) January 13, 2019
With the average age of a viewer being 40, Liberty Media still has a long way to go in attracting the younger generation to the ‘technical’ sport of F1.
Now, with respect to the upsurge in social media activity, Roberts emphasised on the video/audio highlights that were being put up across social media post the race.
The team radio bits were consumed a lot, along with the 60 second race highlight wrap.
More from @F1's research boss: "The problem with podium interviews are that 70% of viewers have switched over by then." Interesting comment on winter testing too: "@SkySportsF1 used to show it but hardly anyone watched it so they stopped broadcasting it"https://t.co/Pep6chG1o7
— Formula Money (@FormulaMoney) January 13, 2019
It is unknown how much $FWONK spent on the 'engineered insanity' campaign spearheaded by @ChikinCS but her colleague, @F1 global research director Matt Roberts, says "the reality is that outside of avid fans, not many casual or non F1 fans saw the ad"https://t.co/Pep6chG1o7
— Formula Money (@FormulaMoney) January 13, 2019
While, Roberts failed to provide concrete data of how Liberty’s efforts have increased fan activity on social media and the increase in ‘young audience’ post Liberty Media take over.
For the longevity of the sport, do you think it is absolutely necessary for Liberty Media to concentrate on the young generation? And what do more do you think can be done in order for the young generation to be involved in F1?
