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Formula 1 doubles year-over-year revenue in Q1 2022
The Formula One Group doubled its revenue to $360m in the first quarter of 2022 compared to the same period a year ago and posted a profit of $19m compared to a loss of $47m in Q1 2021. F1 commercial rights holder Liberty Media cited two races held during the first three months of the year and growth across all three of its primary revenue streams - race promotion, media rights and sponsorship - as the main drivers of revenue. "Throughout 2021 and particularly in the first half of the season, attendance at races was limited due to the pandemic, and the Paddock Club did not operate in the first half," F1 stated in in quarterly release. "F1 does not expect its results in 2022...
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