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Third quarter sees F1 income drop

November 9, 2024
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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 very 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 current weeks F1 has revealed numerous 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 energetic 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 needed funding for our deliberate acquisition of MotoGP.

“Components 1’s industrial progress is unbelievable and we have been thrilled to announce a variety of hallmark offers starting in 2025, together with our new multi-year partnership with LVMH.”

Together with Q3’s 3% drop in income, workforce funds have 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 as a consequence of 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 as a consequence of larger licensing income and income generated from third-party occasions on the Las Vegas Grand Prix Plaza, partially offset by decrease hospitality earnings as a result of mixture of occasions within the present interval.

Working earnings and Adjusted OIBDA(2) elevated within the third quarter, whereas the workforce funds decreased as a result of 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 workforce funds for the complete yr.

Different value of F1 income is essentially variable in nature and is usually derived from servicing each Main and Different F1 income alternatives. These prices elevated as a consequence of larger commissions and associate servicing prices related to servicing Main F1 income streams and better digital prices, partially offset by decrease FIA regulatory, technical, hospitality and journey prices as a result of mixture of occasions held. Different value of F1 income within the third quarter was additionally impacted by larger prices related to F1 Academy and lease expense for the Las Vegas Grand Prix Plaza which wasn’t incurred within the prior yr. Promoting, basic and administrative expense elevated as a consequence of larger personnel, IT, property and advertising and marketing prices in addition to authorized and different skilled charges, partially offset by international alternate favourability.

Company and Different income elevated within the second quarter as a result of inclusion of Quint outcomes and $7 million of rental earnings associated to the Las Vegas Grand Prix Plaza. Within the third quarter, Quint outcomes have been primarily pushed by F1 Experiences throughout the seven races held. Quint’s income is seasonal round its largest occasions, that are typically 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 develop F1 past our race calendar into the houses 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.”



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