Components One Group reported a year-over-year 20 per cent enhance in income for its second quarter 2024, a rise pushed partially by two extra races happening through the interval in comparison with 2023.
Whole income for Q2 2024 amounted to $871 million in comparison with $724 million throughout the identical quarter in 2023, whereas working earnings for the interval got here in at $84 million, a 17 per cent enhance in comparison with $72 million a yr in the past.
The return this yr of the Chinese language GP and the inclusion within the quarter of Emilia Romagna GP, each of which have been cancelled in 2023, meant that F1 held eight occasions through the April to June interval, up from six races in 2023.
Subsequently, the corporate benefited from development throughout media rights and sponsorship.
“F1 is having an unimaginable season with significantly excessive engagement in development markets,” commented Greg Maffei, President and CEO of Liberty Media, F1’s industrial rights holder.
“5 races have already set US stay viewership information for his or her occasions, and we look ahead to our new alternatives forward.”
The corporate mentioned that race promotion income was comparatively flat within the second quarter as charges from the extra races have been offset by the completely different mixture of occasions in comparison with the prior yr interval.
Moreover, different F1 income elevated within the second quarter primarily as a result of larger hospitality, freight, journey, technical providers and F2 and F3 earnings pushed by the extra races held within the present interval.
Because of the quarter’s extra occasions, crew funds elevated from $344 million to $345 million year-over-year.
“The F1 season is seeing phenomenal racing, with seven completely different winners via fourteen races and tighter gaps throughout the grid,” mentioned Components One Group CEO Stefano Domenicali.
“Social media followers are up over 30% throughout F1 platforms and we had 3.7 million race attendees via the primary half of the season with ten sellout crowds.
“F1 Academy is off to a powerful begin in its first season operating all occasions alongside F1 race weekends.
“Along with the Dash and FIA F2 and F3, it’s including to the thrilling on-track motion and bringing added worth to our followers, promoters and sponsors.”
Components One maintained its full 24-race calendar for the 2024 season.
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