F1’s Revenue For Second Quarter In 2018 Fell By $23 Million As Compared to last year

F1's Revenue
F1's Revenue

F1’s Revenue. In comparison to the previous year, the F1 group witnessed a downfall in the second quarter’s revenue for 2018. The skewed revenue generation of F1 in the second quarter of 2018 resulted in a downfall in income for the F1 teams. 

The 10 F1 teams witnessed a drop in earnings by $23 million due to altered revenue of the F1 group. 

Between April-June this year the earnings of F1 fell by 5% in contrast to the same period last year. From $616 million last year between April and June, the earnings dropped to $588 million this year during the same phase.

The portion of this revenue shared by the 10 F1 teams fell by 7% from $330 million to $30& million. To put it the other way around the decline in the pie of revenue shared by these teams took a hit of $23 million in the second quarter of 2018. 

Comparison between the F1’s Revenue of 2018 and 2017 

In the same quarter for 2017 and 2018, however, there was no change in the number of races held. 7 Grand Prix events each were held in the same quarter of 2017 and 2018. Despite the same number of races being held the F1 revenue took a back seat.

Larger broadcasting fee being paid this year has been cited as one of the reasons for the decline in F1-revenue. Also, during the second quarter F1 has repaid $125 million of debt under the revolving credit facility of F1.

Experts further stated that there were certain revenue boosters last year which could not be reciprocated in 2018. 

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