Saturday’s Formula 1 qualifying at the season opening Australian Grand Prix highlighted one of the sport’s underlying problems: that its wealth is a two-edged sword.
Formula 1’s income, and ultimately its survival, is dependent upon casual viewers and new fans. These are the people who make up the bulk of the TV audience, which dictates the cost of the TV rights, which is how Formula 1 makes its money. The more fans there are, the more expensive the TV rights, the more revenue the sport receives. To attract casual viewers and new fans the sport must be exciting and engaging upfront on a race by race basis: it must be entertaining without the need for greater investment. Continue reading “Formula 1’s qualifying flop a reminder of the sport’s conflicting objectives”