The revenues of Formula 1 significantly increasing
This week, F1 published its second quarter revenue report. It is up by 49% compared to the previous year.
Formula 1 is in good financial health. This season, the entity is causing a stir with its revenue and profit figures. Firstly, the Miami Grand Prix, which was organized for the first time, generated more than $350 million in economic benefits.
This statistic shows how much Formula 1 is gaining popularity, especially in the country of Uncle Sam.
Even more impressive is the Formula 1’s revenue during this first half of the season. According to a report published by the sport’s leaders, they have reached 744 million dollars, compared to 501 million last year. This represents a 49% increase.
The lifting of Covid-19 health restrictions, as well as the success of sold-out Grand Prix races, the increase in TV rights and sponsorship, explain this significant increase.
The 2022 Formula 1 season continues to set records as we have witnessed thrilling actions and unpredictable results on the track. We are attracting fans in person and across all our platforms, rejoices Stefano Domenicali, President and CEO of Formula 1.
We are making significant progress by working with all our stakeholders, including our teams, race promoters, the FIA, and our commercial partners, towards our goal of achieving net zero carbon by 2030.
