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A formula for success: How Formula One racing embraced digital and social media to engage fans
Journal of Digital & Social Media Marketing,
11
(1),
43-59
(2023)
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.
Keywords: sports; fandom; Formula 1; engagement; users and gratification; strategy
The full article is available to subscribers to the journal.
Author's Biography
Natalie T. Wood is an associate dean and professor of marketing at Saint Joseph’s University. Her work in the area of social media focuses on word of mouth, advertising and influencer marketing. She co-authors ‘#Share: Building Social Media Word of Mouth’, ‘Virtual Social Identity and Consumer Behavior’ and ‘Maximizing Commerce and Marketing Strategies through Micro-Blogging’. Her work has appeared in such journals as the Journal of Customer Behaviour, Journal of Marketing Education and Business Horizons.
Janée N. Burkhalter is a professor of marketing and Associate Provost for Diversity, Equity & Inclusion at Saint Joseph’s University. She teaches and researches at the intersection of entertainment, marketing strategy and social media. She is a marketing scholar, educator and strategist with practical experience in marketing communications, career services, entrepreneurship, diversity and inclusion. Her work has appeared in such journals as Journal of Advertising, Journal of Marketing Communications and Business Horizons.
