Liberty Media has printed the monetary statements for the yr 2024 on its official web site. Complete income from the System 1 World Championship continued to develop for the fourth consecutive yr, reaching a file $3.65 billion, marking a 14% annual enhance in comparison with 2023.
The primary sources of income got here from TV and media rights (32.8%), contracts with particular person race promoters (29.3%), and sponsorships (18.6%). Extra earnings was generated from the administration of the Paddock Membership, logistics, and help races held throughout F1 weekends, together with F2, F3, F1 Academy, and the Porsche Supercup.
The rise in total income can be linked to the enlargement of the Grand Prix calendar, which for the primary time reached 24 races. Nonetheless, not all the pieces went as anticipated. The fourth quarter of 2024 noticed a decline in comparison with the identical interval the earlier yr attributable to lower-than-expected income from the Las Vegas Grand Prix, each by way of public attendance and Paddock Membership gross sales.
Derek Chang, President and CEO of Liberty Media, confirmed that modifications to the Las Vegas occasion are already being thought of, a few of which—corresponding to an earlier race begin time by two hours—are already identified.
Concerning sponsorships, 2024 noticed the renewal of agreements with DHL and Crypto.com, together with the formalization of a decade-long cope with the LMVH group, which can have an effect ranging from the 2025 monetary report. The record of companions is rising and contains world market leaders corresponding to Aramco, AWS, Heineken, Lenovo, LMVH, MSC Cruises, Pirelli, Qatar Airways, and Salesforce.
Liberty Media additionally shared particular information on the media influence of the 2024 season. In comparison with 2023, the worldwide TV viewers for the F1 World Championship grew from 1.5 to 1.6 billion, with a mean of 66 million viewers per race on conventional broadcasters.
Social media followers elevated from 70.5 million to 97 million. Subscriptions to F1 TV grew by 15%, with america being the most important market.
File income figures will even result in a rise within the prize fund allotted to groups. The whole quantity to be distributed by means of the advanced system outlined within the Harmony Settlement is estimated to be slightly below $1.3 billion.
Mar 4, 2025
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