F1 TV ratings plunge: CEO expects a turnaround in 2024

Formula 1’s 2023 season will be remembered as a year of unchallenged dominance orchestrated by Red Bull and its leading driver, Max Verstappen. The team’s almost unchallenged supremacy led them to victory in all but one of the 22 grands prix, with Verstappen remarkably more than doubling the points of his closest competitor, teammate Sergio Perez. This overwhelming performance coincided with a concerning 20 percent decline in TV viewership in Germany, as reported by DPA news agency.

Sky Deutschland’s sports director Charly Classen reflected on this, saying, “Max Verstappen and Red Bull made 2023 a year for finding superlatives. The great performance from the old and new world champion meant that there was no tension in the title fight.”

Looking ahead to 2024, F1 CEO Stefano Domenicali remains optimistic despite the unchanged regulations and the budget cap that limits teams’ spending. Domenicali believes in the possibility of a more competitive season, drawing inspiration from McLaren’s efforts. He stated, “McLaren has shown that you can develop a more competitive car even with the budget cap.” Domenicali further expressed his expectation of a closer competition, citing the Abu Dhabi qualifying where “the 20 cars were within a second.” He concluded with a vision for the sport’s future, saying, “The big news next year will be the (closer) pace in the race as well. Our goal is to expand the culture and passion for this sport as much as possible.”

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