Formula One Group: a turnover of €1.8bn, operating loss of €31m and net profit of €15m in 2019

Formula One Group, the rights holder and organiser of the Formula One World Championship, posted a turnover of $2.02bn (€1.8bn) in 2019, up 10.6% compared to 2018 ($1.827bn/€1.59bn), according to the Group's parent company Liberty Media Corporation, which published its annual financial results on 26/02/2020.

"Primary F1 revenue ($1.6bn in 2019) represents the majority of F1's revenue (82%) and is derived from race promotion fees, broadcasting fees and advertising and sponsorship fees. For the year ended 31/12/2019, these revenue streams comprised 30%, 38% and 15%, respectively, of total F1 revenue," explained the American communications, media and entertainment group.

Formula One Group posted an operating loss of $35m (€31m) and a net profit of $17m (€15m) in 2019, compared with an operating loss of $110m and a net loss of $68m in 2018.

Liberty Media Corporation, also the parent company of the Atlanta Braves MLB franchise, posted a turnover of $10.29bn (€9.18bn) in 2019. Liberty Media Corporation's operating profit and net profit were $1.47bn (€1.31bn) and $347m (€309m) respectively…