Formula E’s fifth-season loss falls to 10.6 million euros

Formula E, the electric racing series, earned 161.5 million euros and lost 10.6 million euros in the fifth season, according tomedia reports. The figures are understood to come from unpublished documents previously submitted to Companies House Registry in the UK, covering the tournament’s financial year ending 31 July 2019, a few weeks after the end of the fifth season.

Formula E's fifth-season loss falls to 10.6 million euros

Although Formula E loses money every year, new data shows that the fifth season is close to profitability, but this year the arrival of the new corona virus pandemic has disrupted the whole rhythm.

Formula E's fifth-season loss falls to 10.6 million euros

This is a huge achievement for such a young racing series, especially when other big motorsports are struggling to attract new fans and retain existing ones. Formula E is understood to have lost 63 million euros in the first quarter and has been declining in the second and third seasons, reaching 35 million euros and 21 million euros respectively, although it rose slightly in the fourth quarter to 2,600 euros. Revenues for the four seasons were 210 billion euros, 57 million euros, 95 million euros and 133.4 million euros, respectively.

The fifth season has been an important one for Formula E in many ways. This season, the organisers introduced a brand new car that lasts up to 45 minutes and lasts only 25 minutes in previous races, forcing drivers to have to go to the station during the race to replace the batteries. The new car’s faster, more powerful, wilder design also helps it stand out from the rest of the race.

In addition, in the fifth season, Formula E welcomed more automakers, such as Nissan, Mercedes-Benz and Porsche.

In addition, according to data provided by Formula E organizers, the cumulative number of spectators in the 13 games of the fifth season exceeded 400,000, an increase of 9% over the fourth season, and the total number of tv viewers reached 411 million, an increase of 25% over the fourth season.