Racing
© Jonathan Borba
Formula 1 delivered its strongest opening quarter on record in 2026, with Liberty Media reporting revenue up 53% year-on-year from $403 million to $617 million and operating results swinging from a $28 million loss to a $107 million profit.
The biggest reason was the shape of the early-season calendar. Liberty said three of 22 races fell within the January to March period this year, compared with two of 24 in the same period of 2025, because the Japanese Grand Prix was included before the end of March. The company said that "naturally makes a significant difference in terms of race hosting income."
Liberty said Formula 1's primary revenue increased "due to one additional race during the quarter, a higher proportionate recognition of season-based revenue and contractual fee increases." It added that media rights and sponsorship revenue also rose because of calendar-related recognition of season-based income.
Other areas of the business also moved up. Liberty said first-quarter revenue benefited from higher hospitality, freight and travel income tied to the extra event, while hospitality itself grew through stronger underlying Paddock Club sales and new premium offerings. It also cited growth in licensing income and in activities at Grand Prix Plaza in Las Vegas.
Stefano Domenicali, Formula 1 CEO, said the commercial strength came alongside an encouraging start on track. "We had a thrilling start to the season, both on and off the track, with increased overtaking and a highly competitive early season," he said.
Domenicali also pointed to the business momentum behind the numbers, citing "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."
On Liberty Media's first-quarter conference call, Domenicali said the first four races of 2026 had all sold out and total trackside attendance had already reached 1.3 million. He said Australia set a new attendance record, while the Paddock Club was sold out for almost all races this season with more than 65,000 tickets already sold. F1 will increase Paddock Club capacity at Silverstone, Austin and Monza to meet demand.
The audience picture was similarly strong. Domenicali said television audiences were up year-on-year in key markets including Brazil, Italy and China, with Italy rising 25%. He added that Formula 1 content generated nearly 600 million YouTube views over the Japanese Grand Prix weekend, up 46% on 2025, and that the series' social media following had grown 20% year-on-year to more than 120 million.
Even with debate around the new 2026 era still in the background, Liberty's first-quarter figures showed F1 converting that opening stretch of the season into record revenue, renewed profitability and growing commercial demand across broadcast, sponsorship and premium fan experiences.