Formula One is Driving Fans Away with its Price Tag

A recent survey on 'Everythingf1' has shown that 66% of people think it is too expensive to be a Formula One fan in 2023.

Paddock Club guests enjoying the race. Photo's courtesy of F1Destinations.

Formula One has always been a sport for those with deeper pockets, with yachts surrounding the Monaco bay, A-list celebrities waving the chequered flag, and big-name sponsors showcased throughout the entire race weekend, it’s hard not to notice the abundance of money that is being spent.

However, many fans believe prices have gotten so high recently that they can no longer afford to be fans of the sport in 2023.

Tatum Mandy, an F1 journalist, conducted a survey titled ‘Is it too expensive to be a Formula One fan in 2023?’ with the aim of diving deeper into the rising costs within the sport and its effect on fans.

So, is Formula One driving fans away with their prices?

With a limiting 23 races a season, a recent study from Salesforce X Formula One revealed that 99% of F1 fans will never get to attend a race. Alongside Tatum’s research for ‘Everythingf1’, 77% of fans surveyed strongly agree/agree that cost is a big factor that stops them from attending a Grand Prix weekend.

With such a surge in popularity in recent years, thanks to shows such as ‘Drive to Survive’, it is to be expected that increased demand and interest will result in a rise in prices. However, the cheapest available GP is currently in Spain, with the lowest ticket prices sitting at £773 per person – and this doesn’t even begin to consider travel expenses and accommodation during your visit.

F1 fans at the British GP 2022. Photo's courtesy of F1Destinations.

This is a stark contrast to the sport in the 2000s, when a general admission weekend ticket to Silverstone would’ve set you back just £95. Nowadays, that same ticket will cost a minimum of £300 – more than triple the price!

One of the participants from the survey commented, “How many peoples salaries or disposable incomes have doubled to justify this? What other sport has more than doubled the cost of the tickets?”

Fans hoping to get a ticket for the British Grand Prix this year were not only shocked by the unbelievable prices but the process in which they had to partake in to get said tickets.

For 2023 Silverstone GP tickets, the track launched a ‘dynamic pricing’ initiative, leaving fans to wait in queues for hours while ticket prices changed depending on demand.

Stuart Pringle, the managing director of Silverstone, publicly apologised for the system, “I am extremely sorry for the frustration, upset, disappointment, and anger this has caused. We are doing a root and branch review on all of this. We have learned a lot of lessons, and we can’t have a repeat of this year.”

Paddock Club guests at the Zandvoort GP. Photo's courtesy of F1Destinations.

The survey also revealed that while 44% of fans spend the most money on Grand Prix tickets, merchandise was the second most expensive purchase coming in at 23%.

By taking a quick look at F1 teams merchandise stores, your jaw might just drop at the thought of paying £50 for a baseball cap, or £150 for a jacket.

Due to such a surge in prices, smaller Formula One businesses have been thriving by offering non-official F1 merchandise at a much cheaper price. Businesses such as The Slipstream Apparel, StintApparel, and Fifth Gear Garms are all thriving because most fans are unwilling to pay such high official merchandise prices.

While 90% of those surveyed believe that cost is creating a divide among F1 fans, this survey is highlighting a question that appears to be on everyone’s minds – is F1 trying to out-price the general public?

If prices within Formula One continue to increase, it will soon be a sport only the super-rich can afford to both attend and support. As a consequence, viewership could drop as fans continue to feel a lingering sense of detachment. After all, why would they spend £400+ for an F1 ticket with no guaranteed seats, when they can spend £45 on an IndyCar ticket and enjoy a similar experience, all from the pleasures of their own grandstand seat?

It is only adding fuel to the fire when fans are aware of the staggeringly high salaries drivers are paid, alongside bonuses and sponsorship deals within F1. It appears that investment and funding into the sport is of no issue – with tracks all around the world keen to pay the right price for a chance to be on the racing calendar.

As general fans are the ones that fill grandstands and creating the atmosphere and groups such as the Tifosi and the Orange Army, shouldn’t F1 be appealing to these masses more than the 1%?

Currently, Liberty Media, head of the commercial side of the sport, appear to be set in their ways of increasing prices with demand. The company are more interested in F1 from a business venture perspective and as long as tickets for Grand Prix weekends continue to sell out, they will continue to increase ticket prices.