Formula One Group Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw robust revenue and Adjusted OIBDA growth, driven by an extra F1 race and strong underlying business momentum. Both F1 and MotoGP reported record fan engagement, expanded partnerships, and high demand for premium offerings, despite calendar disruptions from Middle East instability.
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The company is focused on Formula One and MotoGP, with strong revenue growth, new media and sponsorship deals, and innovative partnerships like Apple and Netflix. The Las Vegas Grand Prix has enhanced brand value, while MotoGP is set for growth through commercialization and new deals. Financial strength supports disciplined investment.
Fiscal Year 2025
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Delivered strong 2025 results with double-digit revenue and EBITDA growth at F1 and MotoGP, record attendance, and major new media and sponsorship deals. Continued deleveraging and operational investments position both segments for further growth in 2026.
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Liberty Media is executing a major corporate simplification, spinning off Liberty Live and focusing on F1 and MotoGP as core asset-backed securities. F1 and MotoGP are both delivering strong financial results, expanding global fan bases, and investing in brand, digital, and sustainability initiatives for long-term growth.
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Revenue and adjusted OIBDA grew strongly for F1, with robust fan engagement and new commercial deals, while MotoGP saw higher revenue but lower OIBDA due to increased costs. Strategic investments, major partnerships, and leadership changes position both segments for continued growth.
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Recent initiatives include integrating MotoGP, expanding its global footprint, and enhancing commercialization through improved hospitality, sponsorship, and media rights. Formula One continues to grow via strategic media partnerships, upgraded fan experiences, and robust sponsorships. Capital allocation focuses on deleveraging and value creation.
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F1 and MotoGP delivered strong financial and operational results, with F1 revenue up 14% and adjusted EBITDA up 21% year-to-date. MotoGP integration is underway, focusing on commercial growth and global expansion, while both segments are targeting leverage reduction and continued investment in fan engagement and sponsorships.
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Formula One is experiencing record growth in attendance, viewership, and cultural relevance, driven by strategic sponsorships, licensing, and media innovation. Expansion into new markets and the upcoming F1 film are expected to further boost global engagement.
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Strong Q1 start with robust Formula One engagement, record attendance, and digital growth. Revenue and adjusted OIBDA declined year-over-year due to race calendar variance, but underlying sponsorship and media rights growth remain solid. Long-term contracts and new deals support resilience.
Fiscal Year 2024
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Formula One revenue grew 6% in 2024, driven by more races and strong sponsorship, despite Las Vegas Grand Prix underperformance. The Dorna (MotoGP) acquisition is progressing, and 2025 guidance is strong with most revenue under contract and new sponsorships secured.
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Liberty is executing major structural simplification, spinning off Liberty Live and merging Liberty Broadband with Charter, while focusing Liberty Media on motorsports and premium IP. Formula 1 and Live Nation continue to deliver record growth, with MotoGP and digital/social expansion as key future drivers. Leadership transition is underway, with a strong focus on long-term value creation.
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Formula One Group delivered strong year-to-date growth, with revenue up 15% and adjusted OIBDA up 21%. New global sponsorships and robust fan engagement are driving momentum for 2025, while the MotoGP acquisition and Las Vegas Grand Prix remain key variables for year-end results.
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Recent portfolio moves include the MotoGP acquisition, Sirius transaction, and Braves spin-off, with a sharpened focus on live events and sports. F1 and MotoGP are positioned for global growth, while media and sports rights face evolving economics. Live entertainment demand and premium pricing remain strong.
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Liberty Media reported strong Q2 results across SiriusXM, Formula 1, Live Nation, and the Atlanta Braves, with robust revenue growth, record attendance, and high fan engagement. The SiriusXM merger and MotoGP acquisition are progressing, and capital projects are underway.