Sport looking for encouragement that things will bounce back will look with hope to the Q1 earnings published by F1 over the weekend.
The first three months of the year only had one race, the season opener in Bahrain, as opposed to none last year, but revenues rose year on year from $39 million to $180 million.
The operating loss for the period was down by 76 per cent on 2020, with a number of positive indicators for how the sport will fully recover over the last nine months of the year.
The media rights value achieved last year, when a reduced schedule of 17 races were held has been restated at &671 million, more than three times the figure attributed to sponsorship which came in at $209 million.
Media subscriptions were up in the first quarter of this year as the sport enjoys a surge in interest-driven by Season three of the Netflix Drive to Survive series that has brought the mid-race stories and teams to life for a new generation of fans.
Lewis Hamilton won yesterday’s Spanish Grand Prix and leads the Title race after four Grand Prix. He is bidding for his eighth world title this year, more than any other driver in history.
His personal endorsement deals with Monster Energy, Puma, Bose, Sony and L’Oreal among others net him a reported €18 million dollars a year on top of his driver contract with Mercedes worth around €45 million a year.
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