66% of fans think it is too expensive to be a Formula 1 fan in 2023…
Formula 1 has one of the largest fan bases in the World. But it’s no secret that F1 is not cheap.
But in 2023, is it too expensive to be a Formula 1 fan?
In March 2023 I conducted research into the cost of being a Formula 1 fan. During this time fans across the globe took part in a survey ‘Is it too expensive to be a Formula 1 fan in 2023?’ Of those surveyed 49% are female, 47% male, 2% non binary and 2% preferred not to say.
The purpose of this research was to understand the impact that rising costs are having on fans. Is the cost of Formula 1 inhibiting fan experience or are fans simply digging deeper into their pockets for a full experience?
Only 1% Of Fans Will Ever Attend A Race
Recent research from Salesforce x Formula 1 revealed that only 1% of fans will ever attend a Formula 1 race, as there are only 23 races a year.
But is it more than just a limited number of races that stops fans attending?
Is cost playing a factor?
According to my research 77% of fans strongly agree/agree that cost stops them from attending a race.
So even if F1 somehow squeezed more races into an already jam packed calendar, unless prices were dropped, most fans would still say ‘we can’t afford to be Formula 1 fans’.
Yes, being a fan isn’t solely about attending races, but it’s an experience fans deserve to have, because live track action is an experience like no other. You really can’t beat the electric atmosphere of the crowds combined with the sheer adrenaline as cars race past you at 200mph.
Increasing demand for Formula 1 tickets (particularly off the back of Drive to Survive), combined with global inflation, makes it unsurprising that prices have sky rocketed.
But with the average cost of a 3 day general admission ticket costing £200 (an increase of 48% since 2019 according to F1Destinations), most fans have no choice but to stick to their sofa.
£200 on the surface seems like great value for money. But then your hit with the cost of transport, accommodation, food and not to mention, general admission doesn’t even guarantee you a good view of the track.
So all in all you’re looking at around £600, even on a budget.
And if it’s grandstand seats you’re after…according to research by F1 Destinations the average price of a grandstand seat overlooking the pits and starting grid at a race in 2023 costs around £700. Representing an increase of 57% since 2019.
Is it time to become a football fan and grab a £30 premier league ticket?
Put Your Money Where Your Merch Is
90% of fans think cost is creating a dive amongst fans themselves. Separating the wealthy from your everyday fan.
But it’s your everyday fans that drive the sport.
The fans who watch F1 TikTok’s at every chance they get, the fans who request driver cards and wait in queues for hours just to get a peak at their favourite driver.
But it’s not just ticket prices that are skyrocketing…
You only have to look at the price tags on your favourite merch.
£50 for a hat.
£65 for a T-shirt.
£150 for a team jacket.
23% of fans surveyed said the most expensive Formula 1 purchase they made was merchandise.
If teams don’t start offering better value for money merchandise, it’s likely that small Formula 1 businesses will continue to thrive. You only have to look at StintApparel, ByMegs, Fifth Gear Garms, (insert your favourite brand) etc, to see the success of non-official merch companies.
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Formula 1 On A Budget
Whilst budget caps are keeping costs down for teams, the same can’t be said for fans.
My research indicates that cost is a huge issue for fans, an issue that is currently being overlooked due to the popularity of Formula 1.
But can this popularity continue if fans are constantly disgruntled?
How long can Formula 1 price out everyday fans?
After all, F1 is nothing without its fans!
Formula 1 may be paying close attention to improving virtual experiences but if ticket prices won’t change, perhaps they should be offering alternative IRL fan experiences.
Organising watch parties with local authorities perhaps?
But whilst we wait to see if Formula 1 takes action, if you’re looking to save a few pounds and still completely immerse yourself in the sport, I’ve got you covered.
Here are my top tips:
- Value for money experiences
Suggestions: Silverstone Museum, F1 Arcade, Brooklands Museum, The Formula 1 Exhibition, VRROOM virtual racing
2. Watch Formula 1 for free at your local sports bar/pub/community centre
3. Split the subscription cost with family/friends/housemates
P.s regularly check for the latest deals (e.g. Now TV/Sky Sports)
4. Make it a Holiday
Combine a race abroad with your summer vacation
5. Do your research
Find a GP that fits your budget, has reasonably priced travel and accommodation e.g. Hungary is the cheapest GP on the calendar
6. Discounted Merch
Save the planet & shop for 2nd hand merch or for heavy discounts grab last season’s merch
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Get 10% off all official F1 Merch at TheRaceWorks.com using code ‘EF1‘ at checkout.
7. Shop Small
Merchandise doesn’t have to come from your favourite team, check out a small business for unique designs at a fraction of the price
8. Virtual is FREE
Engage with your favourite Formula 1 content creators, podcasters or journalists online and stay up to date with all things F1 at no extra cost
We Can’t Afford To Be Formula 1 Fans
”We can’t afford to be Formula 1 fans” is not the sentiment of a happy fan base.
It may start with TikToks joking about the cost of Formula 1 merch or comparing the crazy ticket prices at Monaco, Vegas and Miami. But we all know the best jokes come from the truth…
66% of fans think it is too expensive to be a Formula 1 fan in 2023, are you one of them?