Sports: boom continues: Formula 1 with sales growth of 49 percent

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The Formula 1 recorded Formula 1 in the second quarter of 2022 with an increase in sales by 49 percent A further dramatic improvement of your financial performance compared to the previous year. In both seasons, seven Grands Prix were held from April to June, which enables a good comparison, since the effects of the Pandemie Covid-19 have subsided.

The number of races is important, since Formula 1 distributes their income over the year, depending on how many events take place in every quarter.

In the first half of 2021, the races still took place in front of a limited number of spectators, while the lucrative Paddock Club Hospitality division had not yet toured after pandemic.

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where Formula 1 earns more money

The Paddock Club is now not only fully operational, but also more popular than ever. The reopening has contributed to the fact that sales of $ 501 million rose to $ 744 million in the same period of this year in the second quarter of 2021.

Within this number, the main revenue from racing promotion, transmission and sponsorship rose by $ 674 to $ 678 million, while the other income - mainly paddock club and freight - rose by $ 214 to $ 116 million.

An operating loss of $ 43 million in the second quarter of 2021 was converted into a profit of $ 49 million this year. In total, the ten Formula 1 teams shared payments of $ 368 million compared to $ 308 million in the second quarter of 2021.

When explaining the results, Liberty Media emphasizes that all three areas of primary income were increased in 2022: "" The income from the racing promotion rose due to higher fees, which were achieved by the different mix of events and contractual increases. "

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"Media rights rose due to the growth of the F1TV subscription income and higher fees in the context of new and renewed contractual agreements."

"The income from the sponsoring rose due to the income of new sponsors and higher racing -specific income, which resulted from the different mix of the events carried out," says the quarterly report.

Formula 1 does not expect further Covid restricted

Liberty that Covid was still an important topic last year: "During the entire year 2021 and especially in the first half of the season, participation in the races was due to the Pandemic restricted and the Paddock Club was not in operation in the first half. "

"Formula 1 does not expect their results to be affected by such capacity restrictions in 2022, although the number of visitors will continue to be checked by the responsible government agencies for each individual races."

"In the first half of the 2022 season, Formula 1 recorded record visitors in both the stands and in the Paddock Club."

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