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A formula for success: How Formula One racing embraced digital and social media to engage fans

Author

Listed:
  • Wood, Natalie T.

    (Saint Joseph’s University, USA)

  • Burkhalter, Janée N.

    (Saint Joseph’s University, USA)

Abstract

In January 2017, Liberty Media finalised its purchase of the world’s premier motor racing series, Formula 1. At the time of acquisition, the sport had developed a reputation as an ‘old boys club’. Global viewership and fan engagement were declining, and the sport had lost sponsors. This decline was largely attributed to a lack of marketing and a failure to adapt to the digital age. Liberty engaged in extensive marketing research to understand fans’ desires and interests to reverse this trend. Its research identified two key target markets: existing committed fans who skewed older and a new younger target market — millennials. To meet the needs of existing fans, Liberty developed a strategy that involved providing more detailed information about the sport through podcasts, enhanced YouTube videos and F1 TV streaming services. For younger fans new to the sport, Liberty created a number of initiatives across different platforms, including the Netflix docuseries ‘Drive to Survive’, an esports game, encouraging fans to vote for their favourite ‘Driver of the Day’, and promoting race-specific hashtags on social media. Liberty also recognised the importance and power of social media and the need for involvement at all levels of the sport — association, team, driver and sports member — to keep fans engaged year-round. This case study highlights the importance of data-informed decision making, understanding how fans are developed, what motivates them and how fan engagement manifests across different platforms.

Suggested Citation

  • Wood, Natalie T. & Burkhalter, Janée N., 2023. "A formula for success: How Formula One racing embraced digital and social media to engage fans," Journal of Digital & Social Media Marketing, Henry Stewart Publications, vol. 11(1), pages 43-59, June.
    • Handle: RePEc:aza:jdsmm0:y:2023:v:11:i:1:p:43-59
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    JEL classification:

    • M3 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising

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