International Skating Union: Figure-ing it Out
By: Jessica Liang
The Ivey Business Review is a student publication conceived, designed and managed by Honors Business Administration students at the Ivey Business School.
At the intersection of athleticism and artistry lies figure skating, blending coordination, endurance, and competitive storytelling into a single performance. Every four years, athletes like Tessa Virtue and Scott Moir captivate millions of viewers with their enchanting routines. Between these fleeting moments of international attention, figure skating finds itself on thin ice: declining viewership is threatening the sport’s future.
The Blade, the Balance, and the Boardroom: ISU and Figure Skating
As a subjective sport, figure skating is evaluated on a points-based judging system that divides scores between technical elements, such as jumps and spins, and program components such as performance and expression. This system balances the subjectivity of the program’s overall performance and expressions with the objective scoring of technical elements.
Founded in 1892, the International Skating Union (ISU) is the world’s oldest international winter sports federation. It serves as the governing body responsible for regulating and promoting both figure skating and speed skating. The ISU's authority spans globally, encompassing 102 member national associations and organizing flagship competitions such as the World Championships and the Grand Prix Series. Figure skating features five main disciplines: men’s singles, women’s singles, pairs, ice dance, and synchronized skating. This segment is a key driver of the ISU’s revenues, accounting for roughly 25 percent of total income.
On Thin Ice: Figure Skating’s Visibility Decline
Figure skating remains one of the most celebrated Winter Olympic sports, consistently ranking as the most-watched event of the Games. However, this popularity is cyclical and volatile. While the sport experiences a popularity spike every four years, it struggles to maintain viewership and relevance outside of this cycle.
Since 2014, the ISU has seen revenues fall by over $10 million, demonstrating the sport’s waning appeal. This trend is evident in television viewing trends. Moreover, regular-season events draw in significantly fewer viewers, with the entire World Championships event attracting just 1.8 million viewers on NBC. A key market dynamic within figure skating is the heavy reliance on individual star power; when the careers of top athletes conclude, a significant portion of the fanbase often disengages. Although current competitors skate at the same elite level, none have broken out as sustained household names. For instance, Ilia Malinin, the first person to successfully land the quadruple axel in competition (2022), has consistently performed this element successfully in competitions. Malinin is a big name within the core skating fandom, but that fandom is not translating to mainstream market visibility. His program at the 2024 World Championships gained 485,000 views, roughly 50 percent of Yuzuru Hanyu’s program views from the 2017 World Championships at 1.1 million. This erosion demonstrates that without a passionate, sustainable fan base, the ISU risks losing not only viewership revenue but also potential sponsorships, media value, and Figure Skating’s visibility worldwide.
When Stars Fade, So Does the Fandom
Figure skating reached its peak of popularity in the 1990s, driven by the sport's popular stars at the time. The scandal between American skaters Tonya Harding and Nancy Kerrigan brought the formerly niche sport into mainstream media, solidifying its popularity for the rest of the decade. This surge continued through the reign of Yuzuru Hanyu. His sportsmanship and skating skills captured many fans, which ultimately drove success in the Asian market. Hanyu’s tremendous talent, charismatic personality, and unique background enabled him to become one of the most popular athletes in Japan and the sport’s most globally recognized star.
More recently, the Russian skaters under coach Eteri Tutberidze revolutionized the ladies' category with their technical prowess and demanding training methods. This created a constant narrative for fans, sparking rivalries and fueling debate over whether Tutberidze’s methods were worth the physical toll on skaters.
The retirement of many popular skaters around and after the Beijing Olympics has put new pressure on the sport to sustain its popularity during a period of transition. While the ‘quad revolution’ of the 2010s helped prevent a complete loss of widespread appeal amidst a period of decline, the departure of fan favorites has created uncertainty about the sport’s future reach. This, in turn, opens space for the next generation of athletes to establish themselves.
Aggravating Factors in the Decline
The existing challenge of ISU’s visible decline is further complicated by external and structural factors. The Russian suspension, which began in 2022, stems from political and regulatory tensions. This action has effectively closed off a crucial audience segment, given Russia’s position as a key player in the sport. Additionally, U.S. Figure Skating has faced challenges with copyright infringement enforcement and inconsistent competition coverage, both of which have created significant friction with North American audiences. While the current landscape offers emerging skaters from other nations an opportunity to gain visibility, they have not been able to break through commercially like the stars of the past.
Reworking the Routine: The ISU’s Current Actions
Recognizing this downward trajectory, the ISU has introduced a “Vision 2030” strategy, built on a four-pillared mission of prioritizing skaters, engaging fans, nurturing partnerships, and inspiring communities. Although the ISU has attempted to reverse skating’s downward trend by posting competition highlights and athlete interviews on social media, these efforts lack storytelling and emotional connection with fans. As a result, these initiatives have not garnered enough viewers to create a tangible change in market visibility. Beyond social media, the ISU must explore alternative platforms that effectively showcase the human element and narrative drama of the athletes to reconnect with their old fan base and expand to new ones.
From the Track to the Rink: Formula One’s Drive to Survive
Netflix’s docuseries, Drive to Survive, has had a profound impact on the Formula One (F1) world, transforming global viewership and reigniting the fanbase. Launched in March 2019, Drive to Survive proved an instant hit, breaking into Netflix’s top 25-ranked series within the first 2 weeks. Prior to the show, F1’s fanbase was predominantly concentrated in Europe, with US viewership hovering around 550,000 per race in the 2018 season. Additionally, only 14% of viewers were under 25, most of whom were male. Recognizing the need for a newer, more diverse audience, Liberty Media, F1’s owner, pitched the show to Netflix.
Showcasing behind-the-scenes content, Drive to Survive achieved critical acclaim by providing accessibility to what was otherwise a high-barrier-to-entry sport. It not only engaged pre-existing fans but also unlocked a wider, previously untapped demographic. Since Drive to Survive, 31 percent of race viewers are aged 18 to 29, and 46 percent are female, demonstrating how the show diversified the sport’s audience. Drive to Survive’s debut was met with 109.7 million viewing minutes, which increased to 224 million by Season 5, which was released in 2023. Meanwhile, the average viewership of F1 races in the US grew to 1.1 million during this same time period. It is evident that greater access to the world of F1 unlocked growth for the sport.
The Formula One Group generated a record $3.4 billion in revenue in 2024, an 11% increase from the year prior. Furthermore, F1’s social media presence has surged, reaching 107.6 million followers across all platforms in 2025, up from 18.7 million in 2018. This reflects the massive influx of younger audiences. By showcasing the drama and rivalries beyond the track, Drive to Survive successfully forged a deep, emotional connection between viewers and drivers, establishing itself as one of the most notable case studies in sports marketing.
Breaking the Ice: An ISU and Netflix Collaboration
Based on F1’s strong track record, the ISU should adopt a similar strategy to revitalize figure skating’s popularity. By collaborating with Netflix, the ISU could release a docuseries providing a “Beyond the Blades” overview of their training journey and rivalries leading up to the nine major championships.
Following the success of Drive to Survive, many other sports have released shows on Netflix. Despite attempting to follow the same approach, not all these series were met with the same excitement. For example, Break Point for tennis only garnered 30.5 million viewing hours and was cancelled. However, there is reason to believe that figure skating is better suited for a Drive to Survive-inspired series.
First, the sport is structured as a Grand Prix–style season, where tension accumulates across successive events. This will enable directors to build narratives in the same manner that resonated with Drive to Survive viewers.
Furthermore, shows that failed, such as Break Point, were unable to get screen time for the sport’s biggest stars. A reasonable hypothesis is that the largest tennis stars have a global following and are not incentivized to allocate time to Netflix. This dynamic is also observable in Formula 1. While the sport’s global icon, Lewis Hamilton, appears infrequently in Drive to Survive, other high-profile drivers such as Daniel Ricciardo were still incentivized to participate, as F1’s then-limited popularity made exposure commercially valuable. In this regard, figure skating is similar to F1 and should be able to incentivize stars to appear in the series.
Lastly, narratives between athletes, coaches, and other figures in figure skating have been part of the sport’s fabric. For decades, training centers like the Toronto Cricket Club under Brian Orser have served as incubators for global rivalries. Legends like Yuzuru Hanyu and Javier Fernández were daily training mates and fierce competitors. The club has also trained Kim Yuna and rising talents like Junhwan Cha. While these storylines begin in the rink, fans are drawn to the raw emotions displayed by the athletes in the “Kiss and Cry”, an area where skaters and their coaches await official scoring. Famous moments include Scott Moir and Tessa Virtue following their gold on home soil during the 2010 Vancouver Olympics and Kevin Aymoz's comeback story following a couple of years of injuries to then come up on top of the men's category. Similar to the Formula 1 ecosystem, where fans engage deeply with driver rivalries and team principal politics alongside races, figure skating audiences are uniquely invested in the 'other side' of the sport. Unlike the more stat-centric fan bases of basketball or golf, skating engagement is fueled by human relationships and dedication to the sport that occur on and off the ice.
Milan Momentum: Mapping the Global Path to the Podium
The US presents a viable initial target audience for the sport. To maximize impact, the docuseries must strike a delicate balance; it must be authentic to the sport to maintain old fans while remaining accessible to a new generation of viewers. The central theme surrounding the quest to reclaim American glory provides a powerful, easy-to-follow emotional hook that strikes this balance. American skaters have recently taken the spotlight following the ban on Russian athletes. With the 2026 Milan Winter Olympics fast approaching, the sport will already be expecting an influx of viewership. While figure skating already ranks as a favourite Winter Olympic sport for American viewers, a docuseries can draw in new audiences beyond existing fans. Following Team USA’s gold medal in the 2022 team event after Russia’s disqualification, the country is entering Milan with strong momentum and heightened anticipation. This Game also presents a rare opportunity where the US has strong contenders for podium finishes in both the Men’s and Women’s events.
In the lead-up to the Milan Games, the ISU should spotlight “Olympic favourite” skaters such as Ilia Malinin, Alysa Liu, and Amber Glenn. By giving these young, well-known skaters a storyline early on, the ISU can increase viewer attachment and sustain engagement after the show’s release. The ISU should encourage athletes to express their personalities more openly, making it easier for fans to connect with and support individual skaters and coaches. A similar dynamic helped Formula 1 grow through Drive to Survive, where figures like Ricciardo and Günther Steiner became entry points for new fans and contributed to the show’s popularity in the early days.
While the first season should focus on the American market because of the strength of the team’s Olympic narrative, it should not neglect international representation. Featuring skaters from Japan, Korea, France, Belgium, and Georgia who are serious podium contenders would diversify storylines and help ensure global appeal in future seasons, which will naturally evolve with different narratives
The Algorithm of Artistry: Filling the Gap in Netflix’s Sports Slate
For Netflix, a figure skating docuseries will help address their current lack of female-focused, artistic sport content. While there are exceptions, they mainly focus on cheerleading. A figure skating show would allow for growth, given that the upcoming Olympics will likely generate attention on the sport.
In the past, Netflix has produced fictionalized figure skating dramas, such as Spinning Out (2020) or Zero Chill (2021), but failed to attract a solid fan base. However, the unrealistic portrayal of the sport is a likely reason for poor attrition and the shows’ cancellations. A non-fiction docuseries will help Netflix anchor the narratives in reality, increasing the show's chances of success.
Sticking the Landing
Cultivating engagement through behind-the-scenes looks and broader exposure could be essential to reversing figure skating’s decline. The evidence from Formula One is clear: storytelling fuels fandom. By adopting a similar model, figure skating can reintroduce itself to new audiences, strengthen loyalty amongst existing fans, and give its athletes the visibility needed to carry the sport into its next era.
Editor(s): Sabrina Yuen, Danae Pepelassis
Researcher(s): Chaitrali Patil
