FORMULA 1
How much audience did the Las Vegas F1 GP have in the USA?
Formula One hosted an exciting event on Saturday night, one of the season’s best races, a flashy international spectacle only possible in Las Vegas.
The Formula 1 Las Vegas Grand Prix was an unprecedented racing experience that drew a massive crowd of 315,000 fans to the Las Vegas Strip. Its officials praised the event as a groundbreaking race that set a new entertainment and racing excellence standard.
The race generated an estimated economic impact of $1.2 billion, making it one of the most successful events in Las Vegas history. Not only did it attract a record-breaking number of visitors, but it also created numerous job opportunities for local businesses and vendors.
Steve Hill, the president and CEO of the Las Vegas Convention and Visitors Authority, expressed his excitement about the impact of the race on the city’s economy. He stated that Formula 1′s impact will make November 2023 the best November in the city’s history. He also emphasized that the race would drive an estimated record economic and fiscal impact of over $100 million in tax revenue to benefit the Las Vegas community.
The success of the Formula 1 Las Vegas Grand Prix showcases the city’s ability to host world-class events and highlights the significant economic benefits of hosting such events.
The TV audience and ratings for the LVGP
According to ESPN, Formula 1 (F1) races in the United States witnessed an 8% decrease in viewership from last year. However, it is still higher than a few years ago. Additionally, the global viewership of “Drive to Survive,” the Netflix docuseries that contributed to F1′s recent growth, has slipped by 7% from a year ago, according to the company’s published data.
The decline in TV numbers coincides with a reported decrease in attendance at this year’s race in Austin. Track officials said a three-day attendance of 432,000 at Circuit of the Americas earlier this season, a drop from last year’s record of 440,000.
The fact that the F1 championship had already been decided (Verstappen clinched the championship with six races remaining) even before the Las Vegas Grand Prix started did not help build anticipation and generate positive expectations for TV audience revenue.
The TV ratings reports show that the Las Vegas Grand Prix was a hit for a wider U.S. audience. ESPN reported that despite the starting time being 1 a.m. ET, the first-ever Formula 1 Las Vegas Grand Prix, attracted one of ESPN’s largest F1 audiences of the season on Sunday morning, November 19th.
The race broadcast had an average of 1.3 million viewers, making it the third-largest F1 audience on cable and the sixth-largest overall on ESPN platforms this season. Additionally, an average of 668,000 viewers in the P18-49 demographic tuned in as Max Verstappen won his victory in a closely contested race over Charles Leclerc and Sergio “Checo” Perez.
The Las Vegas Grand Prix was the most-watched F1 race since the Canadian Grand Prix in June, which had 1.76 million viewers on ABC. It was also the most-viewed telecast on cable after 11 p.m. ET on Saturday night and in the overnight hours. The viewership for the race reached the zenith at 1.5 million between 1:15-1:30 a.m.