Formula 1 boom due to “Drive to Survive”: those who are said to be dead live longer

Just a few years ago, Formula 1 seemed like a discontinued model. Now she’s more popular than ever. What happened?

Young, popular drivers, sold-out racetracks, record sales: Formula 1 is currently experiencing a boom. Rarely has the so-called premier class of motorsport lived up to its name as it does today. Over five million spectators a year along the routes, who celebrate lavish fan festivals alongside the races. Even in previously difficult markets such as the USA, there is real hype with new routes. Big brands like Audi and Ford have already announced their entry, and other applicants want to do the same.

The development of recent years is remarkable – because it is by no means a matter of course. Not so long ago, Formula 1 still seemed like a discontinued model. Loud engines that blow CO2 into the environment and not only burn fuel, but also endless money – the concept seemed out of date. Large car manufacturers withdrew from the sport one after the other. Now the turnaround. The recent success story of Formula 1 is above all thanks to the new owners – and a documentary that became an internet hit.

A look back: Bernie Ecclestone, as CEO of Formula 1, held the reins of the racing series firmly in his hand until 2017. Ecclestone has been active in Formula 1 in various functions since the 1950s. From driver and driver manager, he rose to team owner and finally boss of the racing series.

But the old Ecclestone was symbolic of a problem that increasingly began to plague Formula 1: just like its boss, the racing series seemed a relic from a bygone era. Formula 1, which entered its first season in 1950, grew up in a world that did not care about environmental issues. The teams consumed tons of resources without thinking about the consequences. The principle symbolized the development in the post-war capitalist West: higher, faster, further.

Formula 1 differed and still differs in one point from almost all other companies. Because in the racing series nobody tries to make a profit. Formula 1 teams reinvest every penny they earn into the further development of the cars – those who can afford it spend even more.

For the big brands like Ferrari or Red Bull, Formula 1 has always been a marketing event that works best when they have sporting success – and they also accept a minus for that. Until the budget limit of $140 million was introduced for the 2021 season, the largest teams were happy to spend over 400 million euros per season.

In any case, waste was no longer appropriate at the time when the financial crisis hit the world in 2008. Suddenly even big brands like Honda, BMW or Toyota were no longer willing to finance the big money burning and withdrew from the racing series with their teams. Formula 1’s image problem was perfect.

The turning point initiated Formula 1 in 2017. The US company Liberty Media bought the racing series. Ecclestone was replaced as CEO and the new owners fired up the marketing machine. The promise to make the racing series climate-neutral by 2030 is intended to take the wind out of the sails of critics.

The engines, which have been in hybrid operation since 2014, are to be gradually switched to synthetic, climate-neutral fuels. However, simply operating the cars in a climate-neutral manner is far from enough. Formula 1 transports thousands of people and tons of material around the planet all year round. It is still unclear how this is to be done in a climate-friendly manner in the future.