Liberty Media has revealed a drop in income within the third quarter of 2025, down from $887m (£684m) to $861m (£664m).
The American media large cites the actual fact there was one much less race in Q3 this yr, in comparison with final yr, which meant a fall in media rights and sponsorship income.
Nevertheless, in latest weeks F1 has revealed varied new agreements with LVMH, Lenovo, American Categorical and Santander, to not point out licensing offers with LEGO and Mattel Sizzling Wheels.
“The third quarter was lively each on the company stage and at our working companies,” stated CEO, Greg Maffei. “We closed the Liberty SiriusXM merger with SiriusXM, refinanced the F1 debt amenities and secured all obligatory funding for our deliberate acquisition of MotoGP.
“Formulation 1’s business progress is unbelievable and we had been thrilled to announce quite a few hallmark offers starting in 2025, together with our new multi-year partnership with LVMH.”
Together with Q3’s 3% drop in income, staff funds had been down 14%, from $432m ($333m) in 2023 to $371m (£286m) this yr, whereas working earnings was up 11%.
The decline in media rights income acknowledged was partially offset by contractual will increase in charges and continued progress in F1 TV subscription income. Race promotion income grew within the third quarter attributable to charges from the totally different mixture of occasions held in comparison with the prior yr interval.
Different F1 income elevated within the third quarter primarily attributable to increased licensing income and income generated from third-party occasions on the Las Vegas Grand Prix Plaza, partially offset by decrease hospitality earnings because of the mixture of occasions within the present interval.
Working earnings and Adjusted OIBDA(2) elevated within the third quarter, whereas the staff funds decreased because of the professional rata recognition of funds throughout the race season with one fewer race held within the present interval, partially offset by the expectation of upper staff funds for the total yr.
Different value of F1 income is essentially variable in nature and is generally derived from servicing each Main and Different F1 income alternatives. These prices elevated attributable to increased commissions and accomplice servicing prices related to servicing Main F1 income streams and better digital prices, partially offset by decrease FIA regulatory, technical, hospitality and journey prices because of the mixture of occasions held. Different value of F1 income within the third quarter was additionally impacted by increased prices related to F1 Academy and lease expense for the Las Vegas Grand Prix Plaza which wasn’t incurred within the prior yr. Promoting, normal and administrative expense elevated attributable to increased personnel, IT, property and advertising prices in addition to authorized and different skilled charges, partially offset by overseas change favourability.
Company and Different income elevated within the second quarter because of the inclusion of Quint outcomes and $7 million of rental earnings associated to the Las Vegas Grand Prix Plaza. Within the third quarter, Quint outcomes had been primarily pushed by F1 Experiences throughout the seven races held. Quint’s income is seasonal round its largest occasions, that are usually throughout the second and fourth quarters. Company and Different Adjusted OIBDA for the third quarter of 2024 consists of the rental earnings associated to the Las Vegas Grand Prix Plaza, Quint outcomes and different company overhead.
“Our enterprise is benefitting from wonderful aggressive and monetary momentum,” stated F! CEO, Stefano Domenicali. “We signed a ground-breaking partnership with LVMH for 2025, expanded {our relationships} with Lenovo and American Categorical, and secured licensing agreements with LEGO and Mattel’s Sizzling Wheels which broaden F1 past our race calendar into the properties of our followers.
“The thrilling racing and tight championship has benefitted viewership and digital engagement because the season has progressed. Race attendance is up season-to-date at 5.8 million with sell-out crowds at almost all races. It’s nice to see the on-track expertise of each our seasoned drivers in addition to younger expertise who hopefully have lengthy F1 careers forward.”
