Liberty Media pull in more revenue due to extended F1 calendar

Q2 in 2024 was a financially good quarter for Liberty Media. The figures show that Formula One Group's total revenue increased from $724 million in Q2 of 2023 to $988 million in Q2 of 2024.

More revenue for Liberty Media in Q2 2024

Greg Maffei, president and CEO of Liberty Media, is delighted with the figures the premier class is currently achieving. "Formula 1 is having an incredible season with particularly high engagement in growth markets. Five races have already set US live viewership records for their events, and we look forward to our new opportunities ahead including Apple’s highly anticipated F1 film which will debut in June 2025.''

According to Stefano Domenicali, F1 president and CEO, these figures are also due to the support classes. "The F1 season is seeing phenomenal racing, with seven different winners through fourteen races and tighter gaps across the grid. Social media followers are up over 30% across F1 platforms and we had 3.7 million race attendees through the first half of the season with ten sellout crowds,” said Stefano Domenicali, Formula 1 President and CEO. “F1 Academy is off to a strong start in its first season running all events alongside F1 race weekends. Together with the Sprint and FIA F2 and F3, it is adding to the exciting on-track action and bringing added value to our fans, promoters and sponsors."

Because the Grand Prix in China and Imola went ahead this year and not in 2024, two extra races were run in the second quarter of the year. This also accounts for the higher numbers, as more income from media rights and sponsorships are coming in.

This article was written in collaboration with Kada Sarkozi