The US Is Embracing Formula 1 More Than Ever Before

The superstar personalities of the drivers and the power of the cars have both played their part in the emergence of F1 in the North American market. The sport has not overtaken NASCAR and IndyCar, as they are both US-focused. However, viewing figures and sponsorship interests show that Formula 1 is now a major force on the North American sports landscape.

From a viewership point of view, a recent agreement between F1 and ESPN shows how keen both parties are to benefit from the growing interest the US public has regarding F1. The extension to a previous 2019 agreement runs through to the end of 2025. In addition to ESPN screening, the deal brings further coverage across ESPN.com and social media and is thought to be worth around $75 million to $90 million annually.

It’s not surprising that ESPN wants to continue its coverage of F1, given that last season’s Formula 1 season was the second most watched ever on US television. Broadcasting across EPSN, ESPN2, and ABC reached an average of 1.11 million across the season. This average was second only to the figure of 1.21 for the 2022 season.

The 2023 viewing figures included three of the top four highest audiences ever for F1 races screened on US television. These audiences were 1.96 million for the Miami Grand Prix, 1.79 million for the Monaco Grand Prix, and 1.76 million for the Canadian Grand Prix. In all, the viewing figures for eight races were records. Mexico, Singapore, Arabia, Monaco, Austria, Canada, Belgium, and Italy were these races.

Other stand-out facts for the season were the 1.3 million audience for the inaugural Las Vegas Grand Prix in November, despite the 1 a.m. ET start time for the race and the 927,000 audience for the last race of the season, the Abu Dhabi Grand Prix in November.

Viewing figures for Formula 1 in the US have been increasing since the season returned to ESPN platforms in 2018. Over this time, the figures have increased from an average of 554,000 in 2018 to 1.11 million in 2023.

The figures and the deal that runs through 2025 make F1 ripe for sponsorship in the US and globally. Brands, including new casinos in Canada and the US, have shown interest in F1. For example, Swiss motorsport engineering company Sauber Motorsport AG is racing as Stake F1 for the 2024 and 2025 F1 seasons after securing sponsorship from the betting, entertainment and lifestyle brand. Sponsorship from brands in a variety of areas, such as entertainment and electronics, is across both competing teams and screening content. The appetite for F1 sponsorship is understandable, as sponsorship deals allow brands to reach a large audience in the US and globally. Their colors can be displayed on hoardings and livery.

Heineken and Mercedes are brands that have invested particularly heavily in F1 in the US. They both sponsor F1 races on the Walt Disney Co. of networks of ESPN and ABC. Mercedes is the presenting sponsor. Given this interest from major sponsors and impressive viewing averages, the future of F1 in the US is bright, starting with the screening of the first 2024 F1 season race from the Bahrain International Circuit on March 2.