P1racenews AI automatic summary:
F1 revenues up by 24% on 2022 in third quarter
During the third quarter of 2023, F1’s operating income increased by 61% compared to the same period last year. The 10 F1 teams received a total payment of $432m, higher than the $370m received in 2022. It’s important to note that comparisons between seasons are challenging due to the different race arrangements. This year, there were eight races in the July-September period, including the more lucrative Singapore and Japanese flyaway events. The cost for this period increased due to higher hospitality and freight costs driven by additional races outside of Europe. Liberty Media also incurred costs associated with planning the Las Vegas GP and highlighted the event’s commercial benefits. F1 CEO Stefano Domenicali expressed confidence in the organization’s growth and partnerships, while Liberty Media CEO Greg Maffei emphasized the significance and success of the upcoming Las Vegas race.
Forrás: motorsport
