Formula One Group: turnover of $1.14bn, operating loss of $444m and net loss of $386m in 2020

Formula One Group, the rights holder and organiser of the Formula One World Championship, posted a turnover of $1.145bn in 2020 (€932m), a 43.3% decrease in revenue compared to 2019 ($2.02bn, €1.8bn), according to its parent company Liberty Media Corporation, upon publication of its annual results on 26/02/2021.

"Primary F1 revenue ($964m in 2020) represents the majority of F1's revenue (84%) and is derived from (i) race promotion fees, (ii) broadcasting fees and (iii) advertising and sponsorship fees. For the year ended 31/12/2020, these revenue streams comprised 12%, 55% and 17%, respectively, of total F1 revenue," explained the American communication, media and entertainment group, whose competition was severely disrupted by the Covid-19 pandemic with the postponement or cancellation of races and the absence of spectators.

Formula One Group posted an operating loss of $444m (€361m) in 2020, compared with an operating loss of $35m in 2019.

Liberty Media Corporation, also the parent company of the MLB franchise Atlanta Braves, posted a turnover of $9.36bn (€7.62bn) in 2020. Liberty…