Formula E Season 10 Boosts TV and Fan Engagement Numbers

Formula E has reported significant growth in its television viewership and fan engagement following the conclusion of Season 10. The series achieved a record global cumulative television viewership of 491 million, marking a 35% increase from Season 9. Additionally, the global fanbase grew by 23%, reaching an average of 374 million. Social media engagement also saw a remarkable rise, with approximately 1 billion impressions and a 147% increase in video views across various platforms. Jeff Dodds, the CEO of Formula E, expressed his satisfaction with these results, highlighting the series' commitment to innovation and exciting racing. The introduction of the GEN3 Evo car, capable of accelerating from 0-100 km/h in just 1.82 seconds, is expected to enhance the racing experience further. This development aligns with Formula E's ambition to solidify its position as the fastest-growing motorsport globally. Despite these positive engagement metrics, the financial performance of Formula E remains a concern. The series reported a loss of €42.4 million for the 2023 season, although this was an improvement from the previous year's loss of €65 million. Over nine seasons, Formula E has accumulated losses nearing €280 million, raising questions about its long-term financial sustainability. The data on viewership and fan engagement was sourced from Kantar Sport, Conviva/Hookit, and Google Analytics, indicating a robust analytical framework supporting these findings. As Formula E continues to grow, the focus will be on balancing fan engagement with financial viability to ensure its future success.