Components 1’s income fell barely within the second quarter of 2023 in comparison with the identical interval one 12 months earlier following the cancellation of the Emilia-Romagna Grand Prix.
The Imola race was alleged to happen on Could twenty first. Nevertheless the occasion was cancelled two days earlier than observe was as a result of start following extreme flooding within the area.
That meant F1 held six races within the second quarter of 2023. It initially deliberate to carry eight, however the Chinese language Grand Prix was additionally cancelled, in December final 12 months, because of the Covid-19 pandemic. Neither it nor the Imola spherical have been changed.
As F1 held seven races in the identical interval a 12 months earlier, it obtained extra revenue from promoters and in addition handed much less out to the groups this 12 months. Its income fell from $744 million (£584m) to $724m year-on-year. The ten groups shared $344m (£270m) over the three months to June this 12 months, down from $368m final 12 months.
The discount within the variety of races additionally hit F1’s media rights income. Nevertheless the sequence claims this was partly offset by rises in subscriptions to F1TV.
F1 additionally famous $7 million in bills have been paid throughout this era on prices associated to the upcoming Las Vegas Grand Prix, which is able to happen in November.
The F1 group generated $141m (£110m) in revenue over the interval, down $5m on the second quarter of 2022.
The sequence’ CEO Stefano Domenicali mentioned it’s “capitalising on our development momentum and our followers are participating with the game throughout conventional, digital and social media platforms.
“We congratulate Crimson Bull on their record-breaking efficiency season-to-date, and are thrilled to see the gaps closing throughout the remainder of the grid to provide thrilling rivalries on observe. Subsequent 12 months we are going to host 24 races across the globe, with back-to-back races in nearer proximity which is able to profit the effectivity of operations for each F1 and our groups.”
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2023 F1 season
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