F1 Q3 revenue steady at US$869m as Liberty Media reveals first MotoGP financials

Formula One revenue rose marginally to US$869 million, a 0.9 per cent year-over-year (YoY) increase, in the three months ended 30th September 2025.

Key details:

• Primary revenue falls due to fewer races in Q3, but other revenue rises due to hospitality and licensing income growth
• Operating income rises 13 per cent YoY to US$168 million
• F1 revenue remains below record Q3 figure of US$887 million in 2023
• MotoGP’s first financial release under Liberty Media sees revenue of US$169 million for Q3 2025
• The series generated an operating income of US$26 million

Context:

A marginal 0.9 per cent increase in revenue is notable given that Formula One held one fewer race during Q3. As a result, primary revenue, which comprises race promotion, media rights and sponsorship, fell by US$20 million compared to last year.

During the period, Formula One agreed contract extensions for the United States Grand Prix until 2034, the Azerbaijan Grand Prix until 2030 and the Monaco Grand Prix until 2035. Media rights renewals were also secured with Sky in New Zealand and Coupang Play in South Korea, while a new broadcast deal was signed with Globo in Brazil.

Formula One’s strongest growth came from ‘other revenue’, primarily driven by hospitality and licensing. New licensing agreements were signed with Williams-Sonoma, the parent company of Pottery Barn, and Hello Kitty. Meanwhile, hospitality revenue was boosted by increased activity at the new Grand Prix Plaza in Las Vegas, highlighting its potential as a year-round income source for the series.

Liberty Media’s latest financial release includes MotoGP for the first time since the company’s acquisition, highlighting the major differences between the Formula One business Liberty bought in 2017 and the MotoGP of today. Formula One’s first Q3 results under Liberty ownership reported revenue of US$501 million, compared to US$169 million for MotoGP this year.

Since Liberty’s takeover, MotoGP has renewed race contracts with Japan through 2030, as well as with Catalonia, Valencia, France, Germany and San Marino through 2031. The championship has also extended its broadcast partnership with SuperSport in Africa and secured a new sponsorship deal with Repsol for Moto2 and Moto3. These developments suggest significant growth potential for the series under Liberty’s stewardship.

Comment:

“We are nearing the end of another incredible season showcasing the very best of F1 – thrilling racing, tight competition and nearly half the grid reaching the podium. F1 remains a cultural cornerstone, evidenced by the global box office success of the F1 movie and further underscored by increasing engagement across our channels,” said Stefano Domenicali, president and chief executive of Formula One.

“We completed multiple commercial agreements this quarter and continue to have success accelerating renewals and signing new partners with attractive terms, including our new US distribution partnership with Apple that will highlight the collaborative innovation between our brands for continued growth in the US.

“Recent strong race renewals and early extensions in key markets including Austin, Azerbaijan and Monaco also demonstrate the value F1 brings to the cities in which we race. We are confident in the next chapter of growth at F1.”

Go deeper:

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