P1racenews AI automatic summary:
The return of the Chinese and Emilia Romagna Grands Prix have boosted F1’s coffers.
Liberty Media, owners of F1, have seen a significant revenue surge in F1 attributed partly to calendar expansion. The addition of two more grands prix over the past three months contributed to a 20% revenue increase, totaling $871 million. However, losses have also risen compared to the previous year. Two extra races, including the long-awaited Chinese Grand Prix and Emilia Romagna Grand Prix, were held this year after being canceled in 2023. F1 CEO Stefano Domenicali highlighted the exciting season with seven different winners in fourteen races and increased social media followers. The growth in media rights and sponsorship, along with F1 TV subscriptions, significantly boosted primary revenue. Additionally, higher hospitality, freight, travel, and technical service income, driven by the extra races, contributed to increased financial performance for F1.
