F1 Revenues Up in Third Quarter, Despite Differences in Race Arrangements
It has been revealed that Formula 1 (F1) revenues have increased by 24% in the third quarter of this year compared to the same period in 2022. The increase in revenues can be attributed to various factors, including an increase in operating income and higher payments made to the 10 F1 teams.
Increase in Operating Income
One significant factor contributing to the rise in F1 revenues is the increase in operating income. The operating income for F1 jumped by 61% from $82 million in the third quarter of 2022 to $132 million during the same period this year. This substantial increase highlights the financial success of the sport.
Higher Payments to F1 Teams
Another aspect that boosted F1 revenues is the higher payments made to the 10 participating teams. In the third quarter of this year, the teams shared a total payment of $432 million, which is a notable increase from the $370 million shared in 2022. This increase in payments demonstrates the commitment to rewarding the teams’ efforts and achievements.
Differences in Race Arrangements
When analyzing the revenue growth, it is essential to consider the differences in race arrangements between the two periods. In 2022, there were seven events held in the July-September timeframe, and all of them were in Europe. Comparatively, this year’s schedule had a different arrangement, which may influence direct comparisons of revenue.
Despite the differences in race arrangements, the overall increase in F1 revenues is undoubtedly an encouraging sign for the sport. It signifies that the popularity and financial prosperity of Formula 1 continue to grow, capturing the attention and support of a global audience.
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