Results for the third quarter of 2021 show that F1 earned 12% more revenue than the same period last year, up from $ 597 million to $ 668 million, while a loss of $ 104 million. dollars was turned into a profit of $ 80 million after the 10 teams received their share of $ 338 million.
The numbers are growing despite the fact that in 2021 only 7 races were held in the period between July and September compared to the 10 races in 2020, daughters of the compressed calendar.
Fewer races in a quarter usually means less revenue, but the results reflect the fact that having run many races without spectators in 2020 allowed organizers to negotiate special deals with F1 that allowed them not to pay annual dues.
On the contrary, this season most of the events have seen the stands with full or nearly full capacity.
Fans cheer for Max Verstappen, Red Bull Racing, from the stands
Photo by: Charles Coates / Motorsport Images
Revenue from broadcasting agreements is also calculated per quarter according to the number of races played. In 2021 these have been decreasing and this figure indicated how much more was earned from the taxes paid by the organizers of the individual GPs in order to create a higher total revenue.
The Paddock Club’s return for six of the quarter’s seven races also contributed to this increase.
F1 noted how its primary revenue “increased in the third quarter, mainly due to the growth in race promotion quotas compared to the previous year in which fan attendance restrictions led to one-off changes in the contract terms of the races. competitions held “.
“Media rights and sponsorship revenues decreased in the third quarter due to fewer races (10 out of 22 in 2020 and 7 out of 22 in 2021) but these losses were partially offset by the growth in revenues from TV subscriptions and new sponsors. “
Stefano Domenicali remains optimistic about the prospects of F1 thanks also to a calendar of 22 races in 2021 confirmed after the doubts of the beginning of the season.
“Formula 1 is producing results on the track, for our fans, for our partners and for our investors.”
“We already know that the 2021 season will be remembered for a long time for the battles between drivers and manufacturers.”
“We look forward to the next races in Mexico and Brazil before wrapping up the season with three races in the Middle East that will complete a record calendar of 22 races in 2021, and we are already focused on setting a new record in 2022 with our calendar of 23. races “.
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