Formula 1 (F1), the elite motor racing series, has bounced back strongly from a revenue drop in the first quarter of 2025 by generating over $1 billion for Q2, with significantly more races held.
In revealing its financial results for the three months ending June 30, Liberty Media, the US media giant that owns the property, has unveiled that Formula One Group, which also includes premium events company Quint, brought in revenue of $1.34 billion, a 35% surge compared to the $988 million recorded in the same period last year.
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This also represents a huge increase from the $447 million turnover posted in Q1, which was a 27% drop from the prior year (albeit due to fewer races taking place in the quarter).
While F1 slipped into loss-making territory (minus $28 million) in Q1, the unit delivered a profit of $280 million for Liberty in Q2, a significant rise from just $59 million last year.
There were nine F1 races held in the second quarter of 2025 compared to eight races held in the same period of 2024.
As a result, primary F1 revenue – made up of media rights, race promotion, and sponsorships – increased to $1.03 billion, up from $739 million in 2024, driven in large part by an expanded calendar.
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By GlobalDataOther revenue streams – covering areas like hospitality, licensing, and real estate – also climbed, from $132 million to $194 million.
Adding to the commercial uplift were unique gains tied to the launch of F1 The Movie, produced by Apple. The high-profile Hollywood release, which premiered globally in late June, added an extra layer of media exposure, and income, for the sport.
F1’s operating income before depreciation and amortisation more than doubled year-on-year, rising from $165 million to $369 million.
For the first half of 2025, F1 Group revenue stands at almost $1.8 billion, a rise from $1.6 billion in the first six months of 2024.
This has been attributed to growth across all revenue streams compared to the prior year.
In Q2, Liberty extended the race hosting agreement with the Canadian Grand Prix through 2035 with a long-term extension to Bell Media’s media rights deal, and renewed the Austrian Grand Prix through 2041.
Commercially, soft drinks and snack foods giant PepsiCo was secured as new official partner of F1 through 2030, while the global partnership with MSC Cruises was extended until 2030.
In the reporting period, Liberty also completed long-awaited acquisition of motorcycling’s elite MotoGP series.
The 2025 F1 season, featuring 24 races, began in Australia in mid-March and runs through to Abu Dhabi in early December. The next race will be the Dutch Grand Prix in Zandvoort, taking place on August 31.
Derek Chang, Liberty Media president and CEO, said: “We made excellent progress since last quarter on our stated priorities, including completing the acquisition of MotoGP, advancing the split-off of Liberty Live, and continuing excellent financial and operating results at Formula 1.
“Formula 1’s global strength continues to drive commercial momentum and financial success, with new partners signed and record fan engagement demonstrating the breadth and appeal of the brand. We are thrilled to begin our partnership with the MotoGP management team and, while early days, are working closely with them to support their strategic direction and accelerate the company’s growth.”
