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Mar 31
Liberty Formula One Q1 2025 Earnings Report
Liberty Media reported a decline in revenue and operating income for Q1 2025, primarily due to fewer Formula 1 races held during the quarter compared to the prior year.
Key Takeaways
Liberty Media's Formula One Group saw lower revenues and operating income in Q1 2025, attributed to one less race in the quarter and a different mix of events. Despite this, new sponsorship deals and an extended race calendar signal optimism for the rest of the year.
Formula One Group revenue declined to $447 million from $587 million year-over-year.
Only 2 F1 races were held in Q1 2025, compared to 3 in Q1 2024.
Net income attributable to Liberty stockholders was $5 million.
Cash and cash equivalents for Formula One Group rose to $2.833 billion.
Liberty Formula One
Liberty Formula One
Liberty Formula One Revenue by Segment
Revenue by Segment
Formula 1 Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.comTotal Formula One Group Revenue
CapyFin.com Forward Guidance
Liberty Media expects a stronger remainder of the year as the full F1 race calendar plays out and commercial partnerships contribute more significantly.
Positive Outlook
- New commercial deals with Barilla and PWC launched.
- Concorde Agreement terms secured with all F1 teams for 2026.
- Las Vegas Grand Prix Plaza opened, boosting event presence.
- Continued strong viewership and sell-out race events.
- Contracted and diversified revenue streams provide stability.
Challenges Ahead
- One fewer race reduced primary revenue for the quarter.
- Hospitality revenue declined due to event mix and fewer Paddock Clubs.
- Sponsorship revenue was impacted by race calendar timing.
- Higher freight and partner servicing costs added pressure.
- SG&A expenses rose due to marketing and personnel costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income