In the third quarter, Formula 1 losses amounted to $ 104 million.

Riots in Paris throughout demonstration towards safety regulation, 42 arrests

In Paris, an indication towards a controversial safety regulation and police brutality changed into riots on Saturday. Protesters clashed with police, destroyed outlets,...

Venezuela: Chavismo, one step away from profitable Parliament in an election questioned by the worldwide group

The US and the European Union warned that the consequence won't be accepted. Boycott of the opposition and absence of observers.The US and...

Roger Waters supported Maduro’s elections in Venezuela: ‘Go vote’

He known as on Venezuelans to take part within the elections this Sunday, by which a brand new Nationwide Meeting will likely be elected.In...

Trump expands US troop withdrawal from battle zones

The US president orders the withdrawal of a lot of the navy that his nation maintains in Somalia, as he did months earlier...

Donald Trump enacted the Rodchenkov Act, a controversial anti-doping regulation

The regulation permits for the prosecution and sentencing of as much as ten years in jail or fines of as much as $ 1...

Liberty Media has published Formula 1 financial results for the third quarter of 2020. Revenue decreased by $ 36 million compared to the same period last year – from $ 633 million to $ 597 million.

Even more significant were the net losses of the championship. If in the third quarter of 2019 Formula 1 managed to earn $ 44 million, then in the third quarter of 2020 the losses amounted to $ 104 million. The losses are partly due to a decrease in revenue from the sale of tickets for races.

“Most of the decline in Formula 1 revenue is due to a reduction in payments from stage promoters due to the fact that fans were denied access to the stands at all stages in the third quarter, but one,” said in a statement Liberty Media. – Revenues from TV broadcasts, advertising and sponsorship were lower than initially estimated.

The change in the season calendar has led to a decrease in TV revenues in accordance with contracts with certain broadcasters and with the revision of contracts for this year. ”

.

trending

Related Articles

Η τιμωρία του Κούζμιτς για το τροχαίο που τον έριξε σε κώμα! | NBA

1,5εδόν 1,5 χρόνο μετά από το τροχαίο ατύχημα που είχε ως συνέπεια να πέσει σε κώμα, ο Όγκνιεν Κούζμιτς Ορβος πρώην σέντερ του Παναθηναϊκού ΟΠΑΠ...