Formula One Group: €1.88bn in revenue in 2021 (+86%), including 40% from TV rights

Formula One Group, the company that owns the rights to and organises the Formula One World Championship, has posted a turnover of $2.136bn (€1.885bn) for the financial year 2021, which included 22 Grands Prix, an 86.5% increase in revenue compared to 2020 ($1.145bn/€932m) and season shortened to 17 races due to the Covid-19 pandemic, according to the Group's parent company Liberty Media, which published its fourth quarter and year end results on 25/02/2022.

Breakdown by revenue segment:
• Race promotion revenue (commercial agreements with race promoters): approximately $660m (€582m), or 31% of turnover,
• Media rights revenue (broadcasters + F1 TV subscriptions, OTT platform): around $850m (€750m), i.e. 40% of total revenue
• Sponsorship revenue: around $340m (€300m), i.e. 16% of the total.
• The remaining 13%, i.e. $286m (€252.5m), corresponds to revenues generated by the "Paddock Club" hospitality programme, which has been reinstated on the circuits since July 2021.

Formula One Group posted an operating profit of $40m (€35.5m) in 2021, compared to an operating loss of $444m…