The fans participating in the studies also revealed that the key
features of Formula 1 are exciting races among the best drivers, the fastest
machinery, pioneering technology and delivering close competition with a lot of
overtaking. In the 2017 study a ‘Wave of Optimism’
(notably in younger fans) is seen amongst fans worldwide, this equates to the
change of ownership, management and several other aspects within the
association; this may be due to a deep-rooted trait of the millennials, wanting
the brand to offer relevance, versus just selling a product and being a
corporate machine (Van den Bergh et al., 2014). From the surveys
conducted the participants expressed that F1 needs to balance its sporting and
business interests; moreover, it still needed to
attract new fans. (Motorsport Stats, 2017)