F1 makes £40.6 million revenue in second quarter of 2022

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System 1 reported its fourth consecutive quarter of revenue because the sequence’ revenues proceed to get better following the pandemic.

It held seven races within the second quarter of 2022, the identical quantity because it did over the identical interval 12 months earlier, albeit with decreased restrictions on attendance at many venues. That meant higher numbers of spectators and profitable Paddock Membership company could possibly be accommodated. F1 reported document numbers of each over the primary half of 2022.

Venues reminiscent of Melbourne in Australia and Circuit Gilles Villeneuve in Canada returned to the calendar for the primary time for the reason that outbreak of the Covid-19 pandemic in early 2020. F1 additionally held its long-awaited first Miami Grand Prix.

These helped to drive income as much as $744 million (£617m) throughout this era, a 48.5% improve in comparison with the identical three months in 2021. F1 reported a revenue of $49m (£40.6m) for the quarter by which it misplaced $43m final yr.

F1 additionally reported elevated income from its gross sales of media proper to broadcasters and earnings from its F1 TV reside streaming service.

The sequence’ prices rose as properly, partly arising from revenue-generating actions which weren’t potential on the similar time final yr because of the pandemic. The rising value of freight has additionally had an inevitable affect on F1’s earnings.

F1’s 10 groups had been paid a complete of $368m (£304.9m) within the second quarter in comparison with $308m the yr earlier than.

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