Formula 1: Liberty Media reports record earnings for 2024, but it’s not just about the track. F1 and Liberty Media are enjoying a stellar 2024, but the record earnings are not just due to the track.

Formula 1 and Liberty Media are enjoying a great 2024 from a financial point of view, but the record earnings are not just due to the track. Compared to the months of April, May, and June of the previous season, the series records a 20% increase. This is according to a report prepared by Liberty Media, with the increase in revenues linked, among other things, to annual subscriptions to F1TV and the rise in the entry fees of circuits in the World Championship.

It’s undeniable that Formula 1 is experiencing a dream year, especially when considering the decidedly less exciting 2023. Max Verstappen and Red Bull’s dominance not only bored a good portion of fans but also caused a sharp decline in viewership for the sport. The current unpredictability of the races is a much-needed breath of fresh air, boosting Liberty Media’s ratings.

Entertainment on the track but not only: according to a report from the American company, earnings also depend on the increase in subscriptions to the F1TV service, which in the USA shows a +16%. In the second quarter of 2024, more races were also held, with the return of Imola, Shanghai, and the anticipation of the Japanese Grand Prix.

The host countries also contribute to Formula 1’s coffers, with richer contracts responding to the increased demand for a spot in the World Championship.

Stefano Domenicali, chief executive officer of F1, is satisfied and addresses investors: “We have welcomed over 3.7 million spectators in the first 14 races of this season, with the Canadian Grand Prix recording a record attendance of 350,000 spectators and Silverstone matching the incredible record of 480,000 spectators from 2023. There is strong demand for the races still to be held during the season.” -the Italian manager added.

“Our duty is to ensure the right strategic balance for the long-term future of this sport. The added advantage of this demand with limited race slots creates greater incentives for organizers to innovate and improve the race experience throughout the calendar.” – the former Ferrari team principal concluded.

Source: f1ingenerale