🇬🇧 𝙀𝙘𝙤𝙣𝙤𝙢𝙞𝙘𝙨 𝙬𝙞𝙩𝙝𝙤𝙪𝙩 𝙚𝙢𝙥𝙖𝙩𝙝𝙮

Hi friends,

In Formula 1, we’re amongst our first triple header of the year as we enter the summer in the northern hemisphere.

Today we have two stories, one from the world of rising ticket prices in F1 and another from SailGP. (If you haven’t watched a SailGP event, I highly recommend it)

I hope you enjoy.

-Vincenzo

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F1 of the seas?

I've been following SailGP more closely over the past couple of years. It's an impressive blend of aerodynamics and glamour all powered by nature.

And the growth has been phenomenal.

SailGP grew from six teams and five events to ten teams and 12 events this season. Next year at least nine of the 11 teams will be funded from the outside.

The sport of sailing, except for the America's Cup regatta, has long been dismissed as a sporting property with commercial viability.

But SailGP has top-tier partners, including ROLEX, Mudabala, Oracle, and Near.

This has boosted the sport's exposure, notoriety, and fan following over four seasons.

The stadium-style, high-speed format is a made-for-livestream sports property now reportedly broadcast in more than 200 markets. And it's unique in the fact that race attendees can see the entire course, unlike motorsports where you see cars/bikes go by once every couple of minutes.

And the series will continue to grow.

The recent New York event follows closely after Mubadala Capital's announcement of their plans to purchase a newly established SailGP team representing Brazil. This team, known as the Mubadala Brazil SailGP Team, will be the 11th team in the league in 2025.

Furthermore, SailGP's expansion is not limited to Brazil, as Italy has also been granted a franchise by the league.

Do you have a SailGP event on your to-do list?

𝙀𝙘𝙤𝙣𝙤𝙢𝙞𝙘𝙨 𝙬𝙞𝙩𝙝𝙤𝙪𝙩 𝙚𝙢𝙥𝙖𝙩𝙝𝙮, 𝙖 𝘽𝙧𝙞𝙩𝙞𝙨𝙝 𝙂𝙧𝙖𝙣𝙙 𝙋𝙧𝙞𝙭 𝙨𝙩𝙤𝙧𝙮.

Silverstone’s managing director Stuart Pringle made recent comments on Red Bull's dominance as a key factor to British Grand Prix not being sold out just weeks before the event:

“𝘞𝘦 𝘩𝘢𝘥 𝘴𝘦𝘷𝘦𝘳𝘢𝘭 𝘺𝘦𝘢𝘳𝘴 𝘰𝘧 𝘢 𝘉𝘳𝘪𝘵𝘪𝘴𝘩 𝘥𝘳𝘪𝘷𝘦𝘳 𝘥𝘰𝘮𝘪𝘯𝘢𝘵𝘪𝘯𝘨, 𝘢𝘯𝘥 𝘸𝘦 𝘥𝘪𝘥𝘯’𝘵 𝘮𝘪𝘯𝘥 𝘵𝘩𝘢𝘵 𝘢𝘴 𝘢 𝘉𝘳𝘪𝘵𝘪𝘴𝘩 𝘱𝘳𝘰𝘮𝘰𝘵𝘦𝘳…𝘪𝘵’𝘴 𝘤𝘦𝘳𝘵𝘢𝘪𝘯𝘭𝘺 𝘢 𝘭𝘰𝘵 𝘩𝘢𝘳𝘥𝘦𝘳 𝘸𝘪𝘵𝘩 𝘙𝘦𝘥 𝘉𝘶𝘭𝘭 𝘥𝘰𝘮𝘪𝘯𝘢𝘵𝘪𝘯𝘨.”

𝟐𝟎𝟐𝟐 - sell out in record time (Red Bull/Max v. Ferrari/ Leclerc season story)

𝟐𝟎𝟐𝟑 - attendance of 480,000 (Red Bull very dominant)

𝟐𝟎𝟐𝟒 - still not sold out just two weeks before the event (multiple race winners, tight top of the grid, Red Bull not as dominant)

And while Red Bull is atop the leaderboard, another British driver (Lando Norris) is making this season exciting. Add in Ferrari and McLaren Racing giving Red Bull Racing & Red Bull Technology week-in and week-out challenges and the fact that Silverstone and the British GP are still one of the series' biggest draws.

So what's the real problem?

A 3-day weekend ticket in 2019 was £180.

In 2024?

£349. Nearly a 100% increase.

Using Occam’s Razor, it seems the simplest explanation is the sharp rise in prices, rather than Red Bull’s dominance, that’s affecting ticket sales.

Formula 1’s current challenge is leading with economics, but not using empathy for the loyal fans that have been here.

It's not a black-and-white conversation, there's a lot of gray area, but it feels like cellular companies giving new customers all the great perks and deals while the customers who have been with a company for a decade deal with increased pricing to offset those specials and deals.

What promoters have to remember is that this increased hype from Netflix cannot last forever, and then it's back to the drawing board again.

By leading with empathy in economics, they can harness the true power of the loyal fanbase (read Kevin Kelly's essay "1000 True Fans")

I've always said sports is about family, and if F1 and race promoters come across this post, remember that by making events affordable and engaging for the loyal fans and families, you organically inspire generations to come without the need for gimmicky buzz.

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