The primary quarter financials for F1 present a 27% drop in income whereas crew funds are additionally down.
In fact, a rescheduling to the opening section of the season implies that whereas there have been three races within the first quarter of 2024, this yr there have been solely two.
Income for the opening quarter final yr was $553m (£415m) however this yr slipped to $403m (£302m), a drop of 27%.
Major F1 income, which incorporates race promotion, media rights and sponsorship, decreased throughout all three streams. Race promotion income decreased on account of one much less race and the completely different mixture of races held, whereas decrease media rights and sponsorship income was additionally pushed by the one much less race.
The decline in media rights income was partially offset by contractual will increase in charges and continued development in F1 TV subscription income, whereas the decline in sponsorship income was largely offset by income from new sponsors and development in income from current contracts.
Different F1 income decreased within the first quarter primarily on account of decrease hospitality and experiences income pushed by one much less Paddock Membership and the combination of occasions held, however partially offset by increased freight earnings.
Working earnings went from $136m (£102m) within the first quarter of 2024 to a $28m (£21m) loss this yr. Once more, that is put all the way down to that one much less race, together with the upper prices related to the Grand Prix Plaza in Las Vegas, whereas promoting, normal and administrative bills elevated primarily as a result of increased advertising and marketing prices related to the seventy fifth season launch occasion at London’s The O2 and elevated personnel prices.
“2025 is off to a powerful begin,” mentioned Liberty Media President & CEO, Derek Chang. “Components 1 is benefiting from thrilling racing on the observe and monetary momentum underpinned by new business partnerships that took impact this yr.
“We imagine Components 1’s contracted and diversified income streams place it effectively in opposition to the present macro and shopper backdrop,” he added. “The enterprise fundamentals stay sturdy and we’re assured in our capacity to ship long-term worth.”
“Components 1 is six races into one other unimaginable season and delighting followers in new and inventive methods,” added Stefano Domenicali. “Shut racing all through the sector has created charming on-track motion, serving to drive viewership development on linear and digital platforms.
“Our promoter companions proceed to innovate on their race weekend experiences, producing demand and sell-out crowds. Importantly, we agreed to the business phrases with all F1 groups for the 2026 Concorde Settlement which is financially engaging to all events and gives stability for our future.”
“I’ve had the chance to spend a while with Stefano over the past couple of races,” added Chang, “and in chatting with each present sponsors, in addition to potential sponsors, I do not suppose I have been in a scenario the place I’ve seen this kind of power and pleasure across the prospects to have interaction with the game as with F1.”
