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Both seasons saw seven grands prix held throughout the April-June period, permitting a helpful comparison because the results of the COVID-19 pandemic fell away. The amount of races is important as F1 divides up its revenue over the year based on the number of occasions are locked in each quarter.
In part one of 2021 races remained as being held before limited crowds, as the lucrative Paddock Club hospitality division hadn’t yet got up to date following the pandemic. The Paddock Club isn’t just back at full strength but is showing accepted ever.
Its return helped overall revenues to leap from $501m in Q2 of 2021 to $744m within the same period this season.
Within that figure the main revenue from race promotion, broadcasting and sponsorship rose 35% from $464 to $678m, while other revenues – mainly Paddock Club and freight – elevated by 214% from $37m to $116m.
A practical lack of $43m in Q2 of 2021 was switched right into a profit of $49m this season.
Together the ten F1 teams shared payments of $368m, up from $308m in Q2 of 2021.
Fans attack the circuit for that podium ceremony in the finish from the race
Photo by: Zak Mauger / Motorsport Images
Explaining the outcomes Liberty Media stressed that three regions of primary revenue happen to be boosted in 2022: “Race promotion revenue elevated because of greater charges produced by the various mixture of occasions held and contractual increases in charges.
“Media legal rights elevated because of development in F1 TV subscription revenue and elevated charges under new and restored contractual contracts.
“Sponsorship revenue elevated because of the recognition of revenue from new sponsors and greater race-specific revenue produced by the various mixture of occasions held.”
Nevertheless the figures were skewed slightly through the late cancellation from the 2021 Japanese GP: “There is really a slightly greater proportionate recognition of season-based media legal rights and sponsorship earnings recognised throughout the quarter as 7/22 of revenue was recognised within the second quarter of 2022 when compared with 7/23 of revenue recognised within the second quarter of 2021 prior to the decrease in the 2021 race calendar to 22 races was confirmed.”
Liberty noted that COVID was still being a significant issue this past year: “Throughout 2021 and especially in the first half of year, attendance at races was limited because of the pandemic, and also the Paddock Club didn’t be employed in the very first half.
“F1 doesn’t expect its leads to 2022 to become influenced by such capacity limitations, though fan attendance remains assessed by relevant government government bodies on the race-by-race basis.
“Throughout the very first 1 / 2 of the 2022 season, F1 has experienced record attendance both in grandstands and also the Paddock Club.”