Business Continues to Grow
The exponential growth of Formula 1’s business is evident from its revenue figures in recent years, with the 2024 results confirming the upward trend of the past three years. In 2021, Liberty Media reported $2.1 billion in revenue, increasing to $2.5 billion in 2022, $3.2 billion in 2023, and reaching $3.4 billion in the last twelve months—marking a 6% rise.
According to the Q4 and year-end 2024 report, Formula One Group recorded a 9% increase in global fans, now totaling 6.5 million. Cumulative TV viewership reached 1.6 billion, while the sport’s social media following grew to 97 million.
F1 President and CEO Stefano Domenicali commented: “Formula 1 closed a record-breaking 2024 in terms of race numbers and revenue. We are equally optimistic for 2025 as we celebrate the 75th anniversary of the category, further boosting our brand following last week’s launch event at the O2. Our sponsorship portfolio is the strongest it has ever been. This commercial success is matched by on-track excitement, as we anticipate even fiercer competition.”
**Revenue Breakdown** For the past year, F1’s revenue distribution was as follows: 29.3% from race promoters, 32.8% from TV rights, and 18.6% from sponsorships. Payments to teams, measured as a percentage of operating profit (OIBDA), declined from 62.6% in 2023 to 61.5% in 2024.
Meanwhile, Liberty Media is already looking ahead, with the regulatory approval deadline for the MotoGP acquisition extended to June 30, 2025.
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