F1 earns twelve percent more in third quarter than last year
F1 News
- GPblog.com
Formula 1 is doing well, according to the periodic income figures of the sport. After a year of low profits due to corona, the sport is replenishing its reserves well. In the past period, the income was twelve percent higher than last year in that period.
Seventy million profit in third-quarter F1
F1 made twelve percent more money in the past third period compared to that period last year. Revenue went from $597 million to $668 million. That's seventy million dollars more.
The most notable thing about this growth is that due to the adjusted 2020 season, there were no less than ten races held in this period, while in 2021 there were only seven. Normally, fewer races also means less money.
Fans along the track contributed
The biggest difference in income appears to have come from the fans who were largely allowed back into the circuits. The Paddock Club also played an important role. Autosport.com Writes that F1 itself noted:
"Most of the increase in revenue in the third quarter came mainly from the promotion of the races. In the previous year, the ban on fan attendance led to one-off adjustments to the contractual terms of the races held."