F1 boasts $2.5bn revenue amid continued popularity boom
F1 boasts $2.5bn revenue amid continued popularity boom
Liberty Media has revealed a $437million F1 revenue increase in 2022 after posting its end-of-year financial report.
The boom in popularity currently being enjoyed by F1 has been highlighted yet again with the sport continuing to reap financial rewards.
Despite last year's championship battle between Max Verstappen and Charles Leclerc failing to come close to that of the 2021 rivalry of the aforementioned Dutchman and Lewis Hamilton, sell-out crowds ensured the sport's value maintained an upward trend.
Figures released on Wednesday ahead of the new season indicate an increase of $437m (£363.2m) in revenue from $2,136m (£1,775.4m) to $2,573m (£2,139.4m).
Despite these increases, the revenue for the final quarter of 2022 was down on the previous year due to only six races taking place in the period, one fewer than in 2021.
The majority of this revenue increase came from items listed as 'Primary Formula 1 revenue'. This figure includes is comprised of race promotion revenue, media rights fees and sponsorship fees.
Of these figures, media rights fees provided the largest proportion of F1's revenue, providing 36.4 per cent of the overall figure.
“Formula 1 saw record attendance at its races in 2022 and we were once again the fastest-growing major sport on social media," said F1 CEO Stefano Domenicali.
"We are continuing to build fan engagement through our high-quality broadcast, enhanced content on F1 TV, social channels and new immersive experiences including the F1 Arcade and F1 Exhibition products.
"F1’s global relevance and sustainability efforts are enticing the entry of premier OEMs including Audi and Ford in 2026, and we are confident they will bring significant value to our sport
"We look forward to a record 23 race calendar this year including, in particular, the inaugural Las Vegas Grand Prix.”
Related
Change your timezone:
Latest News
F1 star apologises after China Sprint CLASH
- 1 hour ago
Alonso reveals MISTAKE cost him in shock Red Bull battle - Top three verdict
- 1 hour ago
F1 star accuses team-mate of ‘crossing the line’ in battle
- 2 hours ago
F1 team lodge FIA PROTEST over Chinese Grand Prix qualifying result
- 3 hours ago
Hamilton in 's*** happens' outburst after huge China failure
- Today 11:57
F1 News Today: Alonso hit with China PENALTY as Hamilton endures Shanghai nightmare
- Today 11:44
Related news
Hamilton in 's*** happens' outburst after huge China failure
F1 star PENALISED following controversial Chinese GP incident
F1 Qualifying Today: Chinese Grand Prix 2024 start times, schedule and TV
F1 Sprint Race Today: Chinese Grand Prix 2024 start times, schedule and TV
F1 Standings
Drivers
- Oliver Bearman
- Charles Leclerc
- Carlos Sainz
- Lando Norris
- Oscar Piastri
- Pierre Gasly
- Esteban Ocon
- Sergio Pérez
- Max Verstappen
- Alexander Albon
- Logan Sargeant
- Lewis Hamilton
- George Russell
- Nico Hülkenberg
- Kevin Magnussen
- Fernando Alonso
- Lance Stroll
- Valtteri Bottas
- Zhou Guanyu
- Daniel Ricciardo
- Yuki Tsunoda
Races
- Gulf Air Grand Prix of Bahrain 2024
- Saudi Arabian Grand Prix 2024
- Grand Prix of Australia 2024
- MSC Cruises Grand Prix of Japan 2024
- Grand Prix of China 2024
- Miami Grand Prix 2024
- Gran Premio dell'Emilia Romagna 2024
- Grand Prix of Monaco 2024
- Grand Prix du Canada 2024
- Gran Premio de España 2024
- Grand Prix of Austria 2024
- Grand Prix of Great Britain 2024
- Grand Prix of Hungary 2024
- Grand Prix of Belgium 2024
- Heineken Dutch Grand Prix 2024
- Grand Prix of Italy 2024
- Grand Prix of Azerbaijan 2024
- Grand Prix of Singapore 2024
- Grand Prix of the United States 2024
- Gran Premio de la Ciudad de Mexico 2024
- Grande Prêmio de São Paulo 2024
- Heineken Silver Las Vegas Grand Prix 2024
- Qatar Grand Prix 2024
- Grand Prix of Abu Dhabi 2024
About GPFans
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.
With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.
Follow us on your favorite social media channel
Corporate & Media
Innovatieweg 20C7007 CD, Doetinchem, Netherlands
+31645516860