- CSM Sport & Entertainment Global Sports Fan Survey identifies six fan segments within Formula 1 (F1)
- The ‘New Wave’: young, affluent men and women who see F1 as more of a lifestyle brand than a sporting property – represent a third of F1 fans
- Brands in F1 achieve strong cut-through with the ‘New Wave’ and play a big role in recruiting and keeping them in the sport
- The ‘New Wave’ is the embodiment of the ‘experience economy’.
CSM Sport & Entertainment today released the initial findings from its CSM Global Sports Fan Survey, one of the largest pieces of sports’ fan research ever commissioned. CSM has identified six distinct fan segments within F1, most notably the ‘New Wave’ – the largest segment (approx. 260m people) that could secure the future or failure of the sport.
Introducing the ‘New Wave’
The ‘New Wave’ represents around a third of fans who view F1 as more of a lifestyle brand than a sporting property. They are less likely to watch F1 on TV than other fans and are not big consumers of traditional F1 content across social media. The ‘New Wave’ craves the authenticity and spectacle of a live experience.
- More than half aged under 35
- 49% female compared to an average fan base that is 60% male
- They have money to spend – 75% ABC1
The mind-set of the ‘New Wave’ means F1 has to compete with a number of entertainment properties for attention and spend. The good news is that the segment is currently investing time and money in F1 and demonstrating a high level of engagement with sponsors in the sport.
- 42% claim to have become aware of a brand though F1
- 39% will consider a brand if it is a sponsor in F1
- 44% think that companies that sponsor F1 improve their image
Aled Rees, Managing Director of Strategy & Consultancy at CSM, comments: “The New Wave stood out as something very different from what you might expect in a typical segmentation of sports fans. They embody the experience economy – the idea that experiences and memories are more valuable than a tangible product. They also represent a big opportunity for the rights holders within the sport. It’s a chance to work even closer with sponsors and leverage their activation programmes to help deliver the authentic experience this segment demands.”
Opportunities to engage the ‘New Wave’
F1 is currently behind many other sports in terms of digital and social engagement with fans, but this season, steps have been taken to narrow this gap. This has seen the exclusive world of the Paddock and inner workings of the sport opened to a wider audience through social media, as well as more engaging lifestyle content from teams, sponsors and drivers.
According to Jason Steele, Senior Director of Content & Social at CSM Sport & Entertainment, the early signs are encouraging, but there’s some way to go: “This could be a season long ‘test and learn’ with content themes and formats. Understanding the segment’s passion points and connecting with key influencers and opinion leaders will help broaden the fan base and build stronger engagement.
“We can expect the full inventory of new technologies: virtual reality (VR) and augmented reality (AR); eSports; and the use of fan data to deliver tailored experiences. However, there is a risk that if F1 becomes too focused on what takes place on the circuit, it may alienate a large portion of the ‘New Wave’.”
The research suggests a strong plan for content and social media won’t be enough to meet the needs of the ‘New Wave’.
Rees comments: “Live experiences keep this segment interested and engaged. Translate this to the world of F1 and it becomes clear that the spectacle at the circuit is essential, while activity away from the circuit, when the F1 circus comes to town, is just as important. Everything must be up for grabs. A failure to do this or a reliance on the tried and tested will almost certainly result in the ‘New Wave’ drifting away from F1 with potentially damaging consequences.”
The six segments identified within F1 include: Fanatics, Consumption Addicts, New Wave, Die Hards, Couch Casuals and Marginals.
–ENDS–
About the survey:
- New Wave Slideshare: http://bit.ly/2qOzq1H
- CSM Global Sports Fan Survey: 18,000 people aged 16+ surveyed
- Research conducted by CIE, a division of Chime Group
- The research surveyed 18,000 people aged 16+ from 18 countries, exploring fandom for 48 sports and 137 tournaments and events, including a special focus on motorsport. It looked at fan purchase behaviour for 83 different products and services across 10 categories, from consumer electronics to fashion to financial services.
- 18 countries: Brazil, China, France, Germany, India, Italy, Japan, Mexico, Russia, Spain, UK, USA, Australia, Indonesia, Malaysia, Singapore, UAE and Thailand
- Further findings from the survey will be released over the coming months
For future information please contact:
Scott Branch, Head of Communications, Motorsport, CSM Sport & Entertainment
M: +44 (0) 7464 985068
E: Scott.Branch@csm.com
Michelle Fowler, Communications Director, Motorsport, CSM Sport & Entertainment
M: +44 (0) 7392 106855
E: Michelle.Fowler@csm.com