Domenicali: There has never been such a level of rivalry

Liberty Media reported its second-quarter financial results, saying Formula 1 earned $871 million, up 20% on the same period last year. Part of the revenue increase was due to two more races being held between April and June than in 2023.

Accordingly, prize payments to teams also increased, rising by 26% to reach $344 million.

Stefano Domenicali, CEO and President of Formula 1, also noted that one of the drivers of economic growth has been the noticeable intensification of rivalries in the World Championship, which has a positive effect on spectator interest.

“By many measures, there has never been such a high level of competition,” Domenicali stressed to investors in Liberty Media. “I expect the racing for the rest of the season to be very interesting for our fans too. And looking to the future, the ever-increasing intensity of the battle promises exciting prospects for 2025.”

During the first 14 races of the season, 3.7 million spectators visited the championship circuits this season. In Canada, a record number of visitors was registered: 350 thousand people, and at Silverstone they repeated the incredible record of last year: 480 thousand people during the weekend. We see that the circuits are still full houses and that the demand for tickets for the upcoming races remains high.”

Domenicali also said that FOM has no plans to extend the championship calendar, which already consists of 24 rounds this year: “We continue to receive requests from potential organisers of new races, but it is our responsibility to guarantee a strategic balance that provides Formula 1 with long-term perspectives.

This high demand, coupled with a limited number of rounds, creates the conditions for promoters to be innovative and creative in their efforts to improve the quality of the races already on the championship calendar.”