Formula 1 reported $243 million in revenue growth

Formula 1 owner Liberty Media has released its financial results for the second quarter of 2022. From the published report, it follows that, compared with the second quarter of 2021, Formula 1 revenue increased by $243 million – from $501 million to $744 million.

The main drivers of revenue growth at Liberty Media were the return of fans to the stands, the increase in promotional payments, the growth in revenue from the sale of television broadcasting rights and subscriptions to F1 TV and the conclusion of new sponsorship contracts.

At the same time, in Formula 1, payments to teams increased by 19% – if in the second quarter of 2021 all teams received a total of $308 million, then in 2022 payments amounted to $368 million.

Source: Формула 1 на by

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