F1 income continues to recover as spectators return to races

Formula 1’s income continued to bounce back in the second quarter of 2021 after the first part of last season was wiped out by the COVID pandemic.

F1 income continues to recover as spectators return to races

However income was still significantly lower than during the same period in the last "normal" season in 2019 as most races continued to be run without spectators in the first part of this year.

Last year no races were held in April to June, and F1 claimed income of just $24m. This year the same three month period saw seven Grands Prix take place, allowing income to rebound to $501m.

However that was far below the $620m achieved in 2019, when seven races were also run from April to June.

In 2020 F1 posted an operating loss of $122m for the same period, and that was reduced to a loss of $36m this year.

Last year the 10 F1 teams received no income from F1 in the second quarter, and for much of the period they were on shutdown.

However this year they shared income of $308m between them, although that figure was still less than the $335m logged in 2019.

Income is expected to be further boosted in the July-September period by the increased presence of fans and corporate hospitality as the season progresses.

Daniel Ricciardo, McLaren MCL35M, takes his grid position for the start

Daniel Ricciardo, McLaren MCL35M, takes his grid position for the start

Photo by: Andy Hone / Motorsport Images

“There were seven races held in the second quarter of 2021, compared to no races held in the second quarter of 2020 due to the COVID-19 pandemic,” said Liberty Media.

“Fan attendance continues to be assessed by relevant government authorities on a race-by-race basis.

“A very limited number of fans were in attendance and there was no hospitality at races in the second quarter. While final decisions are pending for most upcoming events, fan capacity increased beginning in the third quarter and the hospitality resumed operations beginning with the Austrian Grand Prix on July 4.

“Primary F1 revenue increased in the second quarter with growth in race promotion, media rights and sponsorship fees.

“This was due to the recognition of race specific and season-based income with seven races held in the second quarter of 2021 compared to no races in the prior year period. Media rights fees also benefited from growth in F1 TV subscription revenue.”

Liberty Media CEO Greg Maffei made it clear that the company is pleased with the progress of its F1 division.

“Formula 1 is delivering across the board,” he said. “On the track, for our fans, teams, partners and investors, and [it] has done an impressive job steering through the 2021 calendar.”

shares
comments

Related video

The trait displayed by F1’s newest winner to earn Alpine’s trust
Previous article

The trait displayed by F1’s newest winner to earn Alpine’s trust

Next article

Piastri proud to play minor role in Alpine Hungary F1 win

Piastri proud to play minor role in Alpine Hungary F1 win
Load comments
Unpacking the technical changes behind F1 2022's rules shakeup Plus

Unpacking the technical changes behind F1 2022's rules shakeup

Formula 1 cars will look very different this year as the long-awaited fresh rules finally arrive with the stated aim of improving its quality of racing. Autosport breaks down what the return of 'ground effect' aerodynamics - and a flurry of other changes besides - means for the teams, and what fans can expect

Why new era F1 is still dogged by its old world problems Plus

Why new era F1 is still dogged by its old world problems

OPINION: The 2022 Formula 1 season is just weeks away from getting underway. But instead of focusing on what is to come, the attention still remains on what has been – not least the Abu Dhabi title decider controversy. That, plus other key talking points, must be resolved to allow the series to warmly welcome in its new era

Formula 1
Jan 20, 2022
The Schumacher trait that will give Haas hope in F1 2022 Plus

The Schumacher trait that will give Haas hope in F1 2022

Mick Schumacher’s knack of improving during his second season in a championship was a trademark of his junior formula career, so his progress during his rookie Formula 1 campaign with Haas was encouraging. His target now will be to turn that improvement into results as the team hopes to reap the rewards of sacrificing development in 2021

Formula 1
Jan 19, 2022
The “glorified taxi” driver central to F1’s continued safety push Plus

The “glorified taxi” driver central to F1’s continued safety push

As the driver of Formula 1’s medical car, Alan van der Merwe’s job is to wait – and hope his skills aren’t needed. JAMES NEWBOLD hears from F1’s lesser-known stalwarts

Formula 1
Jan 15, 2022
When BMW added F1 'rocket fuel' to ignite Brabham's 1983 title push Plus

When BMW added F1 'rocket fuel' to ignite Brabham's 1983 title push

There was an ace up the sleeve during the 1983 F1 title-winning season of Nelson Piquet and Brabham. It made a frontrunning car invincible for the last three races to see off Renault's Alain Prost and secure the combination's second world title in three years

Formula 1
Jan 13, 2022
How “abysmal” reliability blunted Brabham’s first winner Plus

How “abysmal” reliability blunted Brabham’s first winner

Brabham’s first world championship race-winning car was held back by unreliable Climax engines – or so its creators believed, as STUART CODLING explains

Formula 1
Jan 10, 2022
The steps Norris took to reach a new level in F1 2021 Plus

The steps Norris took to reach a new level in F1 2021

Lando Norris came of age as a grand prix driver in 2021. McLaren’s young ace is no longer an apprentice or a quietly capable number two – he’s proved himself a potential winner in the top flight and, as STUART CODLING finds out, he’s ready to stake his claim to greatness…

Formula 1
Jan 9, 2022
The original F1 maestro who set the bar for Schumacher and Hamilton Plus

The original F1 maestro who set the bar for Schumacher and Hamilton

Juan Manuel Fangio, peerless on track and charming off it, established the gold standard of grand prix greatness. NIGEL ROEBUCK recalls a remarkable champion

Formula 1
Jan 8, 2022