Formula 1 recorded revenues of $744m (€731.6m) during the second quarter of this year as the return of crowds and an uplift in sponsorship and media receipts helped increase its operating income to $65m.
The Liberty Media-owned motorsport series saw its primary revenue – comprising proceeds from race events, media rights and sponsorship – increase from $464m to $628m year-on-year. It said the increase was attributable to the return of spectators to races and promotional events following the easing of Covid-19 restrictions, higher revenue from its F1 TV streaming service and income from new sponsorship agreements.
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