Formula One Group: a turnover $2.57bn in 2022, up 20.4% compared to 2021

Formula One Group, the company that owns the rights to and organises the Formula 1 World Championship, has posted a turnover of $2.573bn (€2.4bn as of 31/12/2022) for the 2022 financial year (from 01/01 to 31/12/2022), which includes 22 Grands Prix (as in 2021), i.e. a 20.4% increase in revenue compared to the previous season ($2.136bn/€1.88bn), announced its parent company Liberty Media, upon the publication of its annual results on 01/03/2023.

The main sources of revenue for the body are as follows:
• Media rights (broadcasters + F1 TV subscriptions, OTT platform) account for 36.4% of overall revenue (i.e. $936.5m/€877.1m)
• Commercial agreements with race promoters account for 28.6% ($735.8m/€689.1m)
• Sponsorship revenues represent 16.9% ($434.8m/€407.2m)

In addition, Formula One Group posted an operating profit of $173m (€162m), compared to $40m in 2021 (€35.3m; +332.5%) and an OIBDA (operating profit or loss before depreciation and amortisation) of $551m (€516m), compared to $466m (€411.5m) in the previous season (+18.2%).