P1racenews AI automatic summary:
Las Vegas GP helps to boost F1’s 2023 profits to $392 million
The 2022 and 2023 F1 seasons had 22 rounds each, with significant contributions to the final numbers from various races including the inaugural Las Vegas GP and the Qatar GP. Despite the cancellation of the Imola event, overall revenue increased by 25% to $3.222 billion, with operating profit up by 64% to $392 million. The total payments shared among the 10 teams rose to $1.215 billion, a 5% increase. The success of the Las Vegas event significantly impacted the final quarter of the year, as indicated by Liberty Media. F1 CEO Stefano Domenicali highlighted the successful 2023 season, emphasizing strong engagement, record race attendance, and continued growth in fanbase, particularly in the US market. Looking ahead to 2024, F1 aims to deepen fan relationships and optimize commercial partnerships for added value.
