Method 1 reported its fourth consecutive quarter of revenue because the collection’ revenues proceed to recuperate 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 diminished restrictions on attendance at many venues. That meant higher numbers of spectators and profitable Paddock Membership friends might be accommodated. F1 reported report numbers of each over the primary half of 2022.
Venues equivalent to 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% enhance in comparison with the identical three months in 2021. F1 reported a revenue of $49m (£40.6m) for the quarter wherein it misplaced $43m final yr.
F1 additionally reported elevated income from its gross sales of media proper to broadcasters and revenue from its F1 TV reside streaming service.
The collection’ prices rose as properly, partly arising from revenue-generating actions which weren’t doable on the similar time final yr because of the pandemic. The rising price of freight has additionally had an inevitable influence on F1’s income.
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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