Formula One's 2021 revenue surges 87% to US$2.14 billion

Formula One's revenues soared almost 87 percent to US$2.14 billion for 2021, according to the series’ owner Liberty Media.

The operating income was US$40 million, compared to a US$444 million deficit in 2020.

Revenue for the three months ended 31st December jumped 62 percent on-year to US$787 million

For the fourth quarter, the global motorsport series posted an operating income of US$62 million, having suffered a US$41 million loss for the same period in 2020.

The main revenue source for the fourth quarter was increased race promotion compared to the previous year prior there were limits on fan attendance due to Covid-19.

F1 TV's over-the-top (OTT) platform continues to grow in subscribers, but media rights income was unchanged for the year owing to the impact of lower proportionate recognition of season-based income in 2021.

Formula One's sponsorship income for the period was up owing to new contracts and pandemic-triggered cuts in sponsorship revenue recognized in the prior year.

Formula One president and CEO Stefano Domenicali said 2021 was a remarkable year and they would continue to build off this strong foundation and look forward to our record-setting 23-race calendar for 2022.

Domenicali's remarks were made before the confirmation of the Russian Grand Prix's cancellation.

Liberty Media's revenue for 2021 was US$11.4 billion across its three divisions, with an operating income of US$1.98 billion over the same period.

Major League Baseball’s (MLB) Atlanta Braves brought in US$568 million in revenue, surging 219 percent on-year. Operating income for the year was US$20 million, compared to a US$128 million loss in 2020.

The SiriusXM audio media company, which Liberty has an 81.2 percent stake in, managed a record revenue of US$8.7 billion for 2021, increasing eight percent on the year. Operating income jumped 156 percent to US$1.92 billion.