Liberty Media announces an increase in revenue to US $ 3.65 billion in 2024, driven by promotions and sponsorships
The US conglomerate holding the Formula 1 rights, announced a 6% growth in the revenue of the category in 2024. The annual financial report, released on Thursday (Feb.2025), showed that the Formula 1 group raised $ 3.65 billion until December 31, 2024, compared to $ 3.2 billion from the previous year. This increase was mainly attributed to recipes for running promotion, media rights and sponsorship rates. Leia a (PDF – 211 kB)
However, the last quarter of 2024 recorded a drop in operating revenue, reaching US $ 126 million, and adjusted Oibda fell to $ 200 million.“We are equally optimistic about 2025, as we marked the 75th anniversary of F1, which will provide an incremental boost for our brand,” said Stefano Domenicali, president and CEO of Formula 1.
The 4th quarter revenue decreased from the previous year, totaling US $ 1.17 billion, compared to US $ 1.23 billion in 2023. The reduction was mainly attributed to the lower revenue with racing promotion and media rights. Nevertheless, 2024 saw an increase in F1 primary revenue, with growth in all major sources of revenue.
Formula 1 also saw a significant increase in its fan base, with 1.6 billion TV viewers and 97 million followers on social networks in 2023. The presence of audiences in races grew, reaching 6.5 million, an increase of 9% compared to 2023.
In addition to the financial results, Formula 1 has renewed several racing promotion agreements and announced extended partnerships, including one with Crypto.com by 2030 and a new deal with the Allwyn global lottery operator as an official partner.
Liberty Media is advancing with the acquisition of the MotoGP motorcycling series, extending the date of regulatory approval to June 30, 2025. “We look forward to capitalizing the success of Formula 1 and close the acquisition of MotoGP,” Said Derek Chang, recently appointed president and CEO of Liberty Media.
