It’s an open secret F1 wants to expand the number of races on the F1 calendar. This has been done in recent years until reaching the 24 to be played this 2024 season, the campaign with the most races F1 of history. And the rumors of paddock They are talking about F1 considering raising that number to 30 in the short term, something that worries the teams and especially their staff and drivers because of the enormous difficulty that involved reconciling family life and relaxing a very demanding schedule. The reason for the interest in increasing the number of races is clear when examining the figures announced by Formula 1 corresponding to the income of F1 in the first quarter of 2024. In that period of 2023 there are 2 races, while in 2024 there are 3. And the that small change already makes a big difference in the numbers: F1 entered 45% more in the first quarter of the 2024 season than in the same period of 2023.
According to the figures announced by F1, F1’s operating income for the first quarter of 2024 reached €130 million, an amazing increase of 289%. While payments to teams increased by 46%: from 103 million euros in the first quarter of 2023, to 150 million euros in the first quarter of 2024.
In this sense, the income from promotion, rights and sponsorship has also increased by having another race, as well as the income from the audiovisual rights and the continued growth of the income from the subscription to the F1 TV channel.
Revenue related to hospitality and experiences and the sale of new F2 cars also grew due to the change in regulations at the start of the new season in said category.
“We see continued momentum in both financial performance and strengthening our fan base, including by expanding our fan engagement methods.” We have already announced our 24-race calendar for 2025, a historic year that will mark the 75th anniversary of the FIA Formula One World Championship,” commented Stefano Domenicali, CEO of F1.
“We recently published our first Impact Report and are proud to highlight that we are on track to achieve our goal of net zero emissions by 2030 and continue to prioritize our diversity and inclusion efforts different programs,” he added.
Source: La Verdad
I’m Rose Herman and I work as an author for Today Times Live. My expertise lies in writing about sports, a passion of mine that has been with me since childhood. As part of my job, I provide comprehensive coverage on everything from football to tennis to golf.
