Formula 1’s finances are improving after the COVID-19 crisis
Formula 1 sees the crisis getting further and further away, with its revenues having increased by 12% since 2020 and the appearance of the Coronavirus.
Formula 1 went from a revenue of 597 million to 668 million dollars in one year (equivalent to 580 million euros). Despite the decrease in the number of Grand Prix races this summer (only seven compared to ten in 2020), the financial figures of the sport increased because spectators were absent last year and some events had special agreements (they did not pay the usual rights).
The return of the Paddock Club (at six of the seven Grand Prix this summer) as well as the organization of premium races also helped trigger this increase in revenue.
The promotion of the races has also been more significant than the previous season and the increase in subscriptions to F1 TV as well as the money from new sponsors are also reasons that explain why Formula 1 is currently doing well economically.
