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.

No races were held in April to June in 2020, 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.

But 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.

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

What Alpine found to turn around Ocon's F1 slump
Previous article

What Alpine found to turn around Ocon's F1 slump

Next article

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

The trait displayed by F1’s newest winner to earn Alpine’s trust
Load comments
How Ferrari gained a new edge over McLaren in F1 2021 battle Prime

How Ferrari gained a new edge over McLaren in F1 2021 battle

Supremacy in the McLaren vs Ferrari fight over third place in the constructors’ championship has ebbed and flowed between the two teams so far in the 2021 Formula 1 season. But for several key reasons, right now it seems the advantage has swung decisively back to the Scuderia and McLaren knows it.

The details that boosted Verstappen and held back Hamilton in Austin Prime

The details that boosted Verstappen and held back Hamilton in Austin

As the 2021 Formula 1 title battle winds towards its climax, the United States GP added another thrilling act in the Lewis Hamilton-Max Verstappen battle. Although Hamilton aced the start, Verstappen and Red Bull took the initiative with strategy and were richly rewarded, despite Mercedes' best efforts as the race went down to the wire

Formula 1
Oct 25, 2021
US Grand Prix Driver Ratings Prime

US Grand Prix Driver Ratings

On a baking hot afternoon in Texas, Formula 1 drivers were tested to their limits. As the pressure on the title contending squads reaches an ever-greater level of intensity, the foremost challengers again showed their class, but were outshone by a standout drive from the upper midfield

Formula 1
Oct 25, 2021
The 10 greatest drives of lost legend Jo Siffert Prime

The 10 greatest drives of lost legend Jo Siffert

It's 50 years since Jo Siffert was killed in his prime at Brands Hatch. The Swiss scored just two world championship wins in a Formula 1 career spent largely with privateer teams, but showed on numerous occasions in single-seaters and in sportscars with Porsche that he could beat any of the best drivers of his era given the right equipment.

Formula 1
Oct 24, 2021
Why a misunderstood Kimi Raikkonen will thrive in retirement Prime

Why a misunderstood Kimi Raikkonen will thrive in retirement

Three years on from Kimi Raikkonen's last Grand Prix victory at Austin, he is now six races away from ending the longest Formula 1 career in history. His friend and former Ice1 Racing rally team PR man Anthony Peacock explains why there’s nobody quite like the 2007 world champion and why F1 will miss him (but he won’t miss it).

Formula 1
Oct 24, 2021
How Verstappen has become F1 champion material Prime

How Verstappen has become F1 champion material

As Red Bull and Honda go all-out for victory in the Japanese engine manufacturer’s last season of its latest Formula 1 dalliance, Max Verstappen finds himself thrust into a compelling title fight with Lewis Hamilton. He told OLEG KARPOV about his evolution into a world championship contender and why Red Bull's no compromise ethos suits him down to the ground

Formula 1
Oct 23, 2021
Why long-run times should please Red Bull in Austin F1 battle Prime

Why long-run times should please Red Bull in Austin F1 battle

Mercedes has been on a roll of late in the ultra-tight fight to win the 2021 Formula 1 world championship. It started off well in practice at Austin for this weekend’s US Grand Prix, but Red Bull got closer as Friday unfolded and even seemed to find an edge in one critical area of what seems set to be set to be another close contest.

Formula 1
Oct 23, 2021
The six critical factors that could hand F1 2021 glory to Hamilton or Verstappen Prime

The six critical factors that could hand F1 2021 glory to Hamilton or Verstappen

The 2021 Formula 1 title battle is finely poised with six races remaining, as just six points separate championship leader Max Verstappen from seven-time champion Lewis Hamilton. In such a closely-fought season, the outcome could hinge on several small factors playing the way of Red Bull or Mercedes

Formula 1
Oct 22, 2021