Formula E relies on business intelligence for growth: "We consistently analyse data"

Matt Roberts is Vice President of Business Intelligence at Formula E. In the "Brand Growth" interview with DVJ Insights, the Briton discusses his tasks and the most important factors for the growth of Formula E as a brand. In addition to the involvement of fans, this also includes attracting sponsors and expanding the race calendar.

For strategic decisions, Formula E is relying more and more on Roberts and his staff to develop strategies based on figures and data. "In the last two years, my team has grown significantly and now has twelve members, which underlines Formula E's commitment to data-driven decision-making," says Roberts.

"The Business Intelligence team has a wide-ranging remit, from extensive reporting on TV viewing figures to strategic projects to improve the overall Formula E experience," he adds. "My team acts as an internal consultant and supports various groups in our organisation. We consistently analyse data to understand key aspects such as audience growth, market significance and fan engagement, which contributes to a more informed decision-making process."

An important goal for the racing series is constant growth. Roberts describes the three main components of Formula E's growth strategy: sponsors, fans and spectator numbers. "Sponsors, who are crucial to Formula E's revenue, are courted through extensive research and brand analysis to demonstrate the value of partnerships," he explains, but also emphasises a connection between the three components. "The influx of sponsors is directly linked to Formula E's ability to grow its fan base."

"75 per cent of fans come from traditional motorsport"

"Our shift in recent years shows that Formula E has recognised the importance of engaging directly with fans," Roberts continues. "It's important to understand fan demographics, potential barriers to the fan base and strategies to increase engagement. All of these insights feed into the marketing and media teams' efforts to effectively target specific demographics and markets. Of course, it's important to remember that our fan base is diverse and consists of both traditional motorsport fans and those with a broader interest in sustainability and innovation."

"Around 75 per cent of our audience come from a traditional motorsport background and have experienced other racing series before discovering Formula E," he explains. "The remaining 25 per cent represent a unique segment of fans who are interested in the sustainability initiatives and the general history of the series." The topic of sustainability is also essential for sponsors, as Formula E is the first sport to be completely CO2-neutral since its inception.

Formula E is often faced with a contradiction when planning its races: on the one hand, the racing series wants to race in the largest cities - as recently in Tokyo - but on the other hand, it also wants to earn money at and with the races. The result is therefore a mixed calculation. "We are planning to expand our racing calendar to 17 events," announces Roberts. "The decision making is about a delicate balance between generating revenue and having a presence in an iconic city. We need to keep in mind the dichotomy of racing in countries like Saudi Arabia, which pays to host and offers well-organised events, and iconic European cities where Formula E willingly invests to maintain its presence."

This also poses some problems for the racing series. "A race in a European city is essential for us, but it doesn't always generate the highest financial income," he explains. "European races are essential for Formula E, especially to serve sponsors from the region, even if we need financial investment within our organisation to do so."

"We have plans to organise races in Los Angeles"

However, Roberts sees the biggest strategic growth markets outside of Europe. "For Formula E, the United States, China and Japan have emerged as focal points," he explains - all countries in which Formula E was expanding its presence in 2024. Formula E raced in Japan for the first time in March, while China returned to the race calendar for the first time since the pandemic. And the Portland E-Prix became a "double header" with two races, while the racing series is working on a second US race in parallel.

"These countries, with their large and growing motorsport fan bases, offer us unique opportunities to expand our reach," he explains. "We have plans to organise races in (...) Los Angeles and China to take advantage of the huge popularity of motorsport in these regions. So the decision making is also about a delicate balance between old markets, like those in Europe, and emerging markets with a thirst for motorsport entertainment."

However, it is not always possible to make decisions based on data alone. "Formula E makes extensive use of data, but you can't forget the complexities involved," explains Roberts. "They are not always compatible with external constraints, such as budget restrictions or internal political aspects or those of certain cities."