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Formula 1 reports $172 million Q3 revenue increase
Formula 1 continued to power ahead in the third quarter of 2023, with the sport recording a 24 percent increase in revenue year-over-year. The Formula One Group clocked in for the July-September period with a total revenue of $887 million, which represented a $172 million increase over the same period in 2022. The group’s Q3 total operating income amounted to $132 million, or a 61 percent increase over Q3 2022. It’s worth noting however that there were eight races held in the third quarter of 2023, compared to seven races held in Q3 2022. “Primary F1 revenue increased in the third quarter with growth across race promotion, media rights and sponsorship partly driven by one more race...
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