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F1 revenue crashed 96 per cent during Covid-19 lockdown
Formula 1’s revenues crashed by 96 per cent year-on-year during the 2020 Q2 period, according to figures released by owner Liberty Media on Monday. Due to the Covid-19 pandemic no Formula 1 events were held through the months of April, May or June compared to the seven that took place in the same period in 2019. Revenue during that period was just $24m, compared to the $620m accrued in 2019, while after recording a $14m profit in Q2 2019 that figure tumbled to a $136m loss in 2020. Formula 1’s main revenue streams come from race promotion fees, broadcasting deals, as well as advertising and sponsorship fees. Related Posts Brawn: Hulkenberg should have full-time F1 seat August 10,...
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