Formula E grows global fanbase by 17% to 344m

All-electric series overtakes Nascar as fourth-largest motorsport by fandom.

Formula E has announced it has grown its global fanbase by 17 per cent to 344 million.

Confirmed:

  • All-electric series overtakes Nascar as fourth-largest motorsport by fandom
  • US and Germany represent Formula E’s fastest-growing markets, up 45 per cent and 30 per cent, respectively
  • Global audiences for live content exceeded 225 million, a four per cent year-over-year (YoY) increase

Context:

According to Formula E, ‘the research was conducted by Potentia Insight in July 2023, from a sample size of 33,000 nationally representative adults across 17 international markets’. Live audience growth has been considerable for the series, with notable increases in China and the US, as well as the new markets of Brazil, India and South Africa.

Comment:

Jeff Dodds, chief executive of Formula E, said: “We are well on the way to establishing Formula E as the most exciting and innovative motorsport for fans, alongside being the world’s most sustainable sport. Our teams and drivers exceeded all expectations from a year ago to take the Gen3 car and push it beyond what we all thought was possible.

“As a result, the entertainment value of Formula E racing is off the scale, which is attracting more fans and TV viewers than ever before. We are committed to building on that momentum and developing new ways of presenting our race events to grow the  fanbase and audiences even faster.”

Coming next:

Formula E expands once more in 2024 with the addition of Tokyo to the calendar. There remains three slots to be decided, however, although it is unclear when these will be finalised. The all-electric series told BlackBook Motorsport it intends to race in Hyderabad amid reports the race is not returning next season, while Cape Town and Malaga are also rumoured destinations.

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