$2,5 billion in revenue, record attendance: F1 figures in 2022

Liberty Media has published the 2022 financial results of the F1 group and the results are more than positive.

Published on 02/03/2023 à 16:13

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$2,5 billion in revenue, record attendance: F1 figures in 2022

5,7 million people attended an F1 Grand Prix in 2022 / © DPPI

La Formula 1 is definitely on the rise. Financial results published by Liberty Media on Wednesday March 1 confirm this underlying trend with sharply increasing revenues and gross operating income, as well as record attendance.

F1 revenues increased from $2,136 billion in 2021 to $2,573 billion in 2022, an increase of 20% in the space of 12 months. Gross operating income increased by 160% (!), climbing from 92 to 239 million dollars between 2021 and 2022.

Last year, the 10 teams on the grid shared no less than 1,157 billion dollars, compared to 1,068 billion a year earlier, an increase of 8%.

Some 5,7 million people attended a Grand Prix during the 2022 season, which included 22 events. Attendance is thus 36% higher... than in 2019, the last campaign before the Covid-19 pandemic, which led to GPs being held behind closed doors in 2020, then with a restricted audience at the start of 2021.

F1 enjoys exceptional popular popularity, like here in Mexico / © DPPI

The cumulative TV audience reached 1,54 billion viewers last year, with a remarkable increase of 36% in the United States. The number of subscribers on the various F1 social networks increased by 23% to reach 61 million fans.

Liberty Media also reveals that the first Las Vegas Grand Prix in history (technically the 3rd if we count the Caesars Palace GPs in 1981 and 1982...), which will take place from November 16 to 18, 2023, will have cost a whopping $19 million in organization and planning.

« Formula 1 saw record attendance in 2022 and we were once again the fastest growing sport on social media, greeted Stefano Domenicali, boss of F1, to Liberty Media investors. The discipline's efforts to address current sustainable development challenges have convinced major manufacturers like Audi and Ford to join us in 2026 ».

With 23 races on the program this season, a record, there is no doubt that F1's balance sheet in 2023 will be even more in the green.