News Details
Formula One Group revenue plummets as pandemic impact revealed
Liberty Media has revealed the substantial financial losses suffered
by the Formula One Group owing to the ongoing coronavirus pandemic. On Thursday the corporation revealed its results for Q1
(which covers the months of January, February and March) of its various brands,
which includes the Formula One Group. Revenue crashed from $246m in the same period last year to
just $39m in 2020, a reduction of 84 per cent. Events were due to take place in Australia and Bahrain
during that period but no race fees or broadcast fees have been recognised for
Q1 2020. Primary revenue, which covers race fees, broadcasting
income, advertising, and sponsorship, fell by $198m to $13m. Related Posts...
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