Liberty Media's F1 Revenue Drops Amid Race Calendar Shifts
Event summary
- F1 revenue dropped 38% YoY in Q2 2026 due to 4 fewer races, with Adjusted OIBDA down 61%.
- MotoGP revenue increased 6% YoY for the first half of 2026, with Adjusted OIBDA up 10%.
- Liberty Media extended F1's Las Vegas Grand Prix through 2037 and renewed Pirelli partnership through 2028.
- MotoGP signed new 5-year agreements with all manufacturers and teams through 2031.
The big picture
Liberty Media's Q2 2026 results highlight the volatility in F1's revenue due to race calendar shifts, while MotoGP shows early signs of growth under new ownership. The extensions of key partnerships and agreements indicate a focus on long-term strategic alignment in both motorsport properties. The company's ability to navigate global uncertainties and capitalize on digital engagement trends will be critical for sustained commercial momentum.
What we're watching
- Calendar Impact
- How the rescheduling of races and changes in the calendar will affect F1's revenue recognition and cost structure.
- MotoGP Growth
- Whether MotoGP can sustain its revenue growth and operational efficiency improvements under Liberty Media's ownership.
- Strategic Investments
- The pace at which Liberty Media will pursue additional strategic investments to enhance long-term shareholder value.