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Formula One’s revenues drop by 96 per cent
Formula One revenues crashed by 96 per cent in Q2 2020 compared to the equivalent period of last year according to the latest set of second-quarter results published by Commercial Rights’ Holder Liberty Media. Formula One revenues declined from $620m in Q2 2019 to just $24m in Q2 2020 due to the global coronavirus-induced lockdown period. The primary F1 revenue is comprised of three different sources – race promotion fee, broadcasting fee and advertising and sponsorship fee. Due to the coronavirus pandemic, no racs were held in the months of April, May and June while sevens grands prix took place in the same period in 2019. Due to the lockdown, revenue recognition was limited with no...
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4y ago from F1Technical.net
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