Formula One saw its Q1 revenues rise 53 per cent year-over-year (YoY) to US$617 million for the three months ended 31st March 2026.
Key details:
- Q1 revenue hits new high, beating previous record of US$553 million in 2024
- Operating income rises to US$107 million after the series registered a loss of US$28 million last year
- Adjusted OIBDA increased 102 per cent YoY to US$172 million
- Neither operating income or adjusted OIBDA exceeded the marks set in 2024 (US$136 million and US$208 million, respectively)
Context:
These are a strong set of results to start a difficult season for Formula One, although the true impact of the cancelled Grands Prix in Bahrain and Saudi Arabia will not be felt until the Q2 results are released later this year.
The main contributor to the jump in revenue this quarter was three races being held in the period compared to two last season. This has a knock-on effect across the three primary financial pillars of Formula One’s commercial model: media rights, race promotion and sponsorship. Hospitality revenue also saw a boost for the same reason.
Outside of the positive financial impact of holding an additional race, Formula One agreed a new media rights deal with Foxtel in Australia worth a reported AUS$60 million (US$42 million) per year. The series also renewed its contract with BeIN Sports across Asia until the end of the 2030 season.
Formula One welcomed Betway as its first betting operator, with the multi-year deal spanning Europe, the Middle East and Africa, as well as Canada and Mexico. Major extensions were also agreed with Salesforce and Allwyn, both focused on deepening the fan engagement opportunities available in the sport, while Standard Chartered was named as the series’ official wealth management and corporate and investment banking partner in January.
Despite complaints from fans around the racing product, global TV viewership has risen across the first three races of the season. BlackBook Motorsport understands that global audiences have risen year-over-year (YoY) for the races in Australia (23 per cent), China (30 per cent) and Japan (20 per cent), although individual market data is not yet available.
Comment:
“Liberty Media is off to a strong start in 2026, with sustained momentum across Formula One and the implementation of our long-term strategy for MotoGP,” said Derek Chang, president and chief executive of Liberty Media.
“Formula One continues to demonstrate the strength of its global platform, with growing audiences and deepening fan engagement driving robust demand across all commercial elements. We are excited by the meaningful opportunities to expand MotoGP’s commercial reach over time.
“We remain focused on disciplined execution, investing behind our world-class brands and evaluating avenues for capital deployment to deliver long-term value for our shareholders.”
“We had a thrilling start to the season, both on and off the track, with increased overtaking and a highly competitive early season,” added Stefano Domenicali, president and chief executive of Formula One.
“We continue to see positive momentum across our business, including a strong start to our partnership with Apple in the US, a renewed multi-year agreement with our long-standing partner, Sky, and the addition of new commercial relationships, including those with Standard Chartered and Marsh.
“We remain focused on continuing to evolve the sport – including strengthening how we connect with fans globally and working with the FIA [International Automobile Federation] and teams to make the racing product even better. Together, we are committed to delivering competitive racing and continuing our industry leading growth.”
Go deeper:
- How F1 is building its betting business
- Kenyon: ‘AB InBev deal helped reset Williams’ commercial approach’
Don’t miss the latest news and insights from across the business world of motorsport. Subscribe to the BlackBook Motorsport Weekly newsletter here.