In the round-up: Formula 1 has reported its earnings for the second quarter of 2021, during which time it generated over half a billion dollars in revenue.

In brief

F1 revenue recovers in busy second quarter of 2021

Formula 1 reported a massive year-on-year increase in revenue for the period covering April, May and June. With seven races taking place during that time, compared to none last year following the outbreak of the pandemic, revenues over the periods rose from $24 million (£17.3m) to $501m (£361m). F1 attracts the majority of its income through race broadcasts and hosting fees.

The F1 group as a whole made a $43m loss during the period. CEO Stefano Domenicali praised the sport’s response to the pandemic, noting just 38 positive cases of Covid-19 had been detected from 56,000 tests conducted within the sport this year. “Domenicali: We feel confident in our ability to safely deliver 23 races,” he said.

F1 shouldn’t be on phones – Ecclestone

Domenicali’s predecessor Bernie Ecclestone has continued his criticism of Liberty Media’s management of Formula 1 in a recent interview for Croatian magazine Akrapovic. Among various complaints he singled out the sport’s availability on mobile devices.

“I wouldn’t bother the rule with the cost cap,” said Ecclestone. “The manufacturers would find the way to spent their money anyway. I liked the old F1 logo better, but this is not important. I liked grid girls too.

“What I don’t like is Formula 1 races on the telephones and small devices. I believe sport events are much better seen on the big screen. The sponsors don’t like small monitors, you can’t read their logos on the cars or around the circuit. They will soon ask themselves why spend so much money on something nobody can really see.

“And I don’t understand what social media does. I don’t think you can make people more interested in Formula 1 through social media. So I think Liberty didn’t really know what it bought. American people are not mad for Formula 1.”

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