Can Formula E Profit From F1's Latest Crisis?

Richard Branson's widely-quoted remark that Formula E is set to overtake Formula One in the next 'four to five years' was more than a headline-writer's dream. In that instant, before the assembled press at Saturday's launch of the DS Virgin Racing team, the entrepreneur placed an unwelcome burden of expectation on a series which has, since its inception, sought to make its own way.

Drawing a line in the sand under electric technology, mandating one set of grooved tyres for all weather conditions, a calendar exclusively made up of street circuits in city centres – including the first held in the UK since the Birmingham Superprix in 1990 – and a conscious effort to engage fans through social media and the innovative, if slightly controversial Fanboost, Alejandro Agag's Formula E certainly cannot be accused of trying to copy Formula One and has repeatedly waved away all talk of competition.

Formula E commentator Jack Nicholls this week vented his frustration over Twitter at the incessant comparisons – "I love both, there's a place for both, let's watch both" – and yet they continue, with Branson doing more than most to stir the pot.

"I think there's still going to be room for Formula One for another few years," he said. "But in four or five years from now you'll see Formula E overtaking Formula One in terms of the number of people [watching] and as time goes on, the clean energy type of businesses are going to power ahead."

A media colleague this week described his comments as "ill-thought through and foolish," but underneath the self-interest, does Branson, who also predicted that all cars would be battery-driven by 2035, have a point?

It's not difficult to see why Formula One has come under heavy fire in recent months. The Austrian Grand Prix marked exactly 12 months since Williams driver Felipe Massa took the last non-Mercedes pole position, their 2015 race dominance breached only by Ferrari's canny strategy earlier this season in Malaysia. Off-track, the continuing question of finances and the sport's future under its current owners, CVC Capital Partners, weighs heavy. That less than 10% of the 217,756 respondents to the recent GPDA Global Fan Survey believe F1 is healthier now than it was five years ago is undoubtedly cause for concern.

Formula E, by comparison, has been something of the proverbial breath of fresh air. Of course, it has not been perfect – purists struggle to shake off the impression of being too gimmicky, the cars aren't especially quick and the limits of current technology require two cars to complete the race distance – but it has provided us with some terrific racing, six different winners from the first six events, and a three-way title showdown played out in front of 1.2 million viewers on ITV. If, as expected, more major manufacturers join Citroen as Formula E opens up the powertrain regulations for year two, the sport is set for a very promising future.

But for all the good work Formula E has done, it is far from certain that it will take over Formula One's target market – in part because it caters to a completely different demographic.

"For me, the point of Formula E is as an entry point for new fans – it's a race meeting that comes to them in the middle of the city – and kids who aren't going to be put off by loud racing cars," says Damien Smith of Motor Sport Magazine. "It will continue to be divisive and won't please everyone, but I don't think Alejandro Agag is too concerned about that and rightly so."

And it doesn't stop there. FIA President Jean Todt was also in attendance at the press conference and wasted no time in dismissing Branson's comments, citing the fundamental differences in budget between the two sports.

"I think it's a big mistake to compare them, it's like comparing London to a city on the beach," he said. "They are two different shows; on the one side, you have a short race – 45 minutes – with two cars [per driver], racing in the cities and very different budgets. Do you think the Formula One budget will drop by 20 times or the Formula E budget will multiply by 20? I don't think so."

Interestingly, Todt also called on the media to be more responsible in their reporting, alleging that the constant comparisons are only harming the sport.

"Of course we can do better, but I think Formula One is absolutely fascinating and I am wondering why there is so much negativity – does it help to sell more copy, does it help to attract more people? I don't think so. It's just the opposite," he said.

"I really think that we need Formula One, it remains the pinnacle of motorsport, but we also need Formula E, sportscars, rallying and touring cars. Formula One and Formula E are part of the same family – it's good to have competition in the same category, not in different categories."

It's worth remembering that this isn't the first time Formula One's pedestal has supposedly been under threat. A forgettable Chinese Grand Prix held on the same day as the barnstorming Six Hours of Silverstone was the catalyst for baffling comparisons between the World Endurance Championship and Formula One – two of the more different styles of racing you could ever see. But for all the star power provided by Mark Webber and Patrick Dempsey, close racing in all four classes and flexible regulations paving the way for Ben Bowlby's radical front-wheel drive Nissan LMP1, the hardened F1 fan is no more likely to follow the duration of a six-hour race than they are to shun F1 in favour of Agag's quiet revolution.

Until drivers and manufacturers in turn begin to prioritise Formula E – which has so far proven the domain of competitors who, whilst evidently talented, for whatever reason failed to make the grade in F1 – it is difficult to foresee the dramatic swing needed to substantiate Branson's comments.

This is an important week for Formula One, as the circus returns to its spiritual home of Silverstone, which hosted the very first World Championship race back in 1950. For the good of the sport, one senses that a little spice wouldn't go amiss to quieten the dissenters, but it is still far too early to predict Formula One's demise. On that front, only time will tell.

@james_newbold