$1.12bn (£831m) revenue in Q4 2024 increases to $1.37bn (£1.02bn) in 2025, while operating income for the year was up 28% to $632m (£469m).

Primary revenue represents the majority of F1's revenue and is derived from race promotion revenue, media rights fees and sponsorship fees. For the year ended December 31, 2025, these revenue streams comprised 26.7%, 31.3% and 21.7%, respectively, of total F1 revenue. Other revenue, which includes hospitality, freight and licensing, comprised 20.3% of total F1 revenue.

There were 24 races over the course of the season and 7 in the fourth quarter of 2025, compared to 6 races in the fourth quarter of 2024. In the fourth quarter of both 2025 and 2024, F1 directly promoted the Las Vegas Grand Prix and recognized the revenue (ticketing, sponsorship, hospitality) and costs related to the event.

Primary revenue grew for the full year with increases across all primary revenue streams. Sponsorship revenue grew due to recognition of revenue from new sponsors, contractual increases from existing sponsors and growth in digital advertising revenue. Media rights revenue increased due to contractual increases in fees, the continued growth in F1 TV subscription revenue and recognition of one-time revenue associated with the F1 movie. Race promotion revenue grew primarily due to contractual increases in fees.

Team payments for the year were up 11%, from $1.06bn (£786m) in 2024 to $1.18bn (£875m) in 2025.

"Formula 1 finished another record-breaking season, marking an exceptional 75th anniversary year for the sport," said Stefano Domenicali. "The next chapter of F1 brings on-track excitement with a new race in Madrid, the debut of Cadillac and Audi and the return of Honda and Ford to the grid.

"This upcoming season is a thrilling time for our sport as we introduce the next generation of cars, engines and regulations that are sure to make for dynamic racing and compelling storylines," he added. "Our sport has never been stronger, as evidenced by our roster of marquee partners, including Disney, Lego, Pepsi, Apple and Standard Chartered."

"2025 was an exceptional and productive year for Liberty, and we are excited about the opportunities ahead," said Derek Chang, Liberty Media President & CEO. "We delivered on our key strategic objectives - strengthening Formula 1's growth trajectory, completing the MotoGP acquisition and streamlining our structure following the Liberty Live split-off last December.

"This year, we remain focused on sustaining F1's momentum, positioning MotoGP for future growth and remaining disciplined yet opportunistic with our capital to drive shareholder value."

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READERS COMMENTS

1. Posted by ffracer, 42 minutes ago

"@ Editor- thank you for your indepth reports on the business of F1. 11% this quarter, coupled with the 14% last quarter, would appease any of the 10 teams previously concerned about the 'diminished pie' with the 11th team Cadillac coming in. Absolutely staggering numbers...

Those distant days, teasing us once again with 'Vettel's F1' and all his demos of that classical, violent symphony of normally aspirated sound now powered by sustainable fuel... has brought tears to my eyes every time we watch it on YouTube... because it is not in the manufacturers best interests. So sad.

In a perfect world, Vettel's F1 - the true pulse of what the true fans desire - will return and Liberty Media would reimburse the manufacturers for this expensive rabbit hole... and the investors would go absolutely crazy so that would never happen. "

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2. Posted by Editor, 1 hour ago

"@ ffracer

Remember those distant days when the teams were always at war with Bernie and Max, they even threatened a breakaway series.

However, that 11% increase in team payments goes some way to explaining why we never hear a peep from them these days, they are all fully on board, all fully complicit in the death of the sport."

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3. Posted by ffracer, 1 hour ago

"Thank you, dear Pitpass, I was waiting for the latest business update on the staggering meteoric rise of F1 growth and value. This is gospel because it explains all the Liberty Media orchestrated insanity: no inseason testing, unpredictable tires, a complete overhaul of the rules, new team and new engine manufacturers while still limiting numbers of power supply, more sprint races with the impressive schedule... all for more drama and record numbers and increased viewership. Chaos sells."

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F1 Q4 revenue sees 14% year on year increase

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