The organisation’s numbers took a massive hit in 2020 as the COVID pandemic hit and only 17 races were held – most of them without spectators.
Overall revenues crashed from $2.022bn in 2019 to just $1.145bn in 2020.
However, in 2021, despite the ongoing impact of COVID, 22 races took place, and with many of them seeing the return of spectators F1’s revenue recovered to $2.136bn.
F1’s income was also boosted by a one-off payment related to the cancellation of the contract for the Vietnam GP, an event that was supposed to be held for the first time in 2020.
As a result of the higher revenues a disastrous operating income loss of $386m in 2020 was turned into a profit of $92m in 2021, after the 10 F1 teams were paid.
The total payments to the teams staged an impressive recovery. From $1.012bn in 2019 they fell to just $711m in 2020 and bounced back to $1.068bn in 2021.
Explaining the boost in income Liberty Media made it clear that the return of fans was the…
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