F1 revenues boosted by 49% as sequence emerges from COVID-19 pandemic

Each seasons noticed seven grands prix held in the course of the April-June interval, permitting for a helpful comparability as the consequences of the COVID-19 pandemic fell away. The variety of races is critical as F1 divides up its income throughout the yr relying on what number of occasions are held in every quarter.

Within the first a part of 2021 races have been nonetheless being held in entrance of restricted crowds, whereas the profitable Paddock Membership hospitality division hadn’t but acquired in control after the pandemic. The Paddock Membership will not be solely again at full power however is proving extra standard than ever.

Its return helped general revenues to leap from $501m in Q2 of 2021 to $744m over the identical interval this yr.

Inside that determine the first income from race promotion, broadcasting and sponsorship rose 35% from $464 to $678m, whereas different revenues – primarily Paddock Membership and freight – elevated by 214% from $37m to $116m.

An working lack of $43m in Q2 of 2021 was was a revenue of $49m this yr.

Between them the ten F1 groups shared funds of $368m, up from $308m in Q2 of 2021.

Fans invade the circuit for the podium ceremony at the end of the race

Followers invade the circuit for the rostrum ceremony on the finish of the race

Picture by: Zak Mauger / Motorsport Pictures

Explaining the outcomes Liberty Media careworn that each one three areas of major income have been boosted in 2022: “Race promotion income elevated resulting from larger charges generated from the totally different mixture of occasions held and contractual will increase in charges.

“Media rights elevated resulting from progress in F1 TV subscription income and elevated charges underneath new and renewed contractual agreements.

“Sponsorship income elevated as a result of recognition of income from new sponsors and better race-specific income generated from the totally different mixture of occasions held.”

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Nonetheless the numbers have been skewed barely by the late cancellation of the 2021 Japanese GP: “There’s a barely larger proportionate recognition of season-based media rights and sponsorship revenue recognised in the course of the quarter as 7/22 of income was recognised within the second quarter of 2022 in comparison with 7/23 of income recognised within the second quarter of 2021 earlier than the discount of the 2021 race calendar to 22 races was confirmed.”

Liberty famous that COVID was nonetheless a serious difficulty final yr: “All through 2021 and notably within the first half of the season, attendance at races was restricted as a result of pandemic, and the Paddock Membership didn’t function within the first half.

“F1 doesn’t anticipate its ends in 2022 to be impacted by such capability limitations, although fan attendance continues to be assessed by related authorities authorities on a race-by-race foundation.

“All through the primary half of the 2022 season, F1 has skilled report attendance in each grandstands and the Paddock Membership.”

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