The 2022 and 2023 seasons both featured 22 rounds, with the total always playing a key role in the final numbers.
However, it was a different mix of races, with the first F1-promoted street event in Las Vegas and the Qatar GP added to the calendar, with France disappearing and the Imola event – which should have been a 23rd race in 2023 – cancelled due to freak weather.
Overall year-on-year revenue rose by 25% from $2.573 billion to $3.222 billion, while operating profit was up 64% from $239 million to $392 million.
The total payments shared between the 10 teams rose from $1.157 billion to $1.215 billion, representing an increase of 5%.
In reporting the figures, Liberty Media made it clear how much impact Las Vegas had, especially in the final quarter of the year, indicating that the event was a success for the organisation.
Regarding the rise in income, the company noted: “Race promotion revenue grew primarily due to ticketing revenue from the inaugural Las Vegas GP and other contractual increases in fees.
“Race promotion revenue in the full year and fourth quarter also benefited from the mix of races held in each period compared to the comparable periods in the prior year.
“Sponsorship revenue increased due to the recognition of revenue from the Las Vegas GP, income from new sponsors and growth in revenue from existing sponsors.”
Source: Autosport