Statistics compiled by Sky Sports, which is showing a record-breaking 24 races, from CGA BrandTrack Q3 and Q4 2023 data shows 89% of F1 out-of-home viewers visit a licensed venue at least monthly versus 71% of average pub/bar consumers and 65% of pub/bar consumers who don’t watch sport out of their homes.
And pubs can expect an increase in spending from F1 viewers when they visit their premises because the research revealed the average spend on eating/drinking of F1 viewers when out in a month reached £132.09, which is £39 or 42% higher than other pub and bar customers who don’t watch sport when out.
Furthermore, of the top 11 sports, F1 viewers are most likely to “like food available, including a snack menu” when they specifically visit a venue to watch sport on TV as 54% agreed with this statement.
Massive reason to show F1
A spokesperson for Sky Sports, summarised: “F1 viewers out-of-home have increased significantly and this combined with the fact they spend on average around 42% more than consumers who don’t watch sport out-of-home is a massive reason to show F1.
“Additionally, it’s a good sport for food sales with F1 the most likely sport out of the top 11 to like food available, including a snack venue when they specifically visit a venue to watch F1 on TV.
“The increased number of races offer venues more opportunities to capitalise on attracting more fans to their venues for longer and for spending more while they are there on drink and food.”
Meanwhile, data from the Ipsos OOH Viewing Panel April 23 stated 58% of people surveyed are interested in F1 (44 percentage points more than a few years ago) and 56% have previously watched F1 when out of their homes.
It also found 64% agree is it a good idea for pubs/bars to show F1, with 63% agreeing they would probably watch in a pub/bar if F1 was being shown and 52% would consider watching Sat qualifying and 50% Sunday races this season.
Three races on a Saturday
This year’s F1 calendar sees the return of the Chinese Grand Prix for the first time since 2019 while three races in 2024 will take place on a Saturday rather than a Sunday – these being in Bahrain, Saudi Arabia and Las Vegas.
Sky Business director of hospitality James Tweddle added: “We are very excited about the upcoming 2024 Formula 1 season.
“With out-of-home viewing figures being smashed year on year for Formula 1, alongside a record-breaking season of 24 races, this provides a great opportunity to get fans staying in venue longer and spending more.”
Here is the F1 Grand Prix calendar for the upcoming season:
