Formula 1 Group's Overall Revenue Down 5% In April-June

Overall revenue for the Formula 1 Group fell 5% in the April-June frame compared with the same period last year, from $616M to $588M, according to MOTORSPORT. The "slice of the pie shared by the 10 teams" fell 7% from $330M to $307M. F1’s operating income was down 69% from $45M to $14M. There was no change in the number of races held in the quarter, with both '17 and '18 featuring seven grands prix. However, Liberty said that "one reason for the revenue fall" is that last year, the quarter's share of broadcasting fees represented a "7/20 share" of the annual total, while this year, with an extra race, it is "7/21." In addition, last year, the second quarter "included one extra flyaway race," Russia, and such events are "typically more lucrative" than races reached by road. Liberty said that income "was boosted by a change in the way revenues from official partners and suppliers is recorded." Sales of parts for the new generation of F2 cars "also provided a boost to revenues" (MOTORSPORT, 8/8).