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Liberty Media reported a decrease in revenue in the third quarter of 2025, dropping from $887m (£684m) to $861m (£664m).
The decrease in revenue is attributed to having one less race in Q3 this year compared to last year, leading to lower media rights and sponsorship revenue.
Despite this decline, F1 has recently announced new agreements with LVMH, Lenovo, American Express, and Santander, as well as licensing deals with LEGO and Mattel Hot Wheels.
CEO Greg Maffei stated, “The third quarter was a busy period for us at both the corporate level and within our operating businesses. Formula 1’s commercial advancements have been remarkable, with significant deals such as our new partnership with LVMH starting in 2025.”
Revenue dropped by 3% in Q3, team payments decreased by 14%, and operating income increased by 11%. The decline in media rights revenue was partially offset by increased fees and growth in F1 TV subscription revenue.
Other F1 revenue increased in Q3 primarily due to higher licensing revenue and revenue from third-party events at the Las Vegas Grand Prix Plaza. Operating income and Adjusted OIBDA also increased in the third quarter.
Costs associated with F1 revenue increased in Q3 due to higher commissions and partner servicing costs, as well as increased digital expenses. Selling, general, and administrative expenses also rose, offset by foreign exchange favours.
Corporate and Other revenue saw an increase in the second quarter, with Quint results and rental income related to the Las Vegas Grand Prix Plaza contributing to the boost.
F1 CEO Stefano Domenicali mentioned, “Our business is thriving with strong competitive and financial momentum. We have secured partnerships with LVMH, Lenovo, and American Express, and licensing agreements with LEGO and Mattel’s Hot Wheels, expanding F1 beyond race events.”
He also noted the increase in viewership, digital engagement, and race attendance, highlighting the talent of both experienced and young drivers in F1.
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