The first quarter of 2026 opened with extremely positive financial results for Liberty Media Corporation, which recorded major growth driven by the outstanding performance of Formula 1 and the strategic integration of MotoGP. The media giant led by Derek Chang highlighted a strong growth trajectory supported by increasing global fan engagement and the continued worldwide expansion of motorsport entertainment.
Liberty Media’s long-term strategy remains focused on maximizing the value of its world-class brands by investing heavily in commercial reach, fan engagement, digital growth, and operational efficiency. The consolidated financial figures showed total revenue climbing to 711 million dollars, compared to 447 million dollars during the same period in the previous year. Operating income also improved dramatically, moving from a loss of 67 million dollars to a positive result of 64 million dollars.
Formula 1 delivers record revenue and major commercial growth
Formula 1 enjoyed an exceptional start to the 2026 season, with revenue surging to 617 million dollars, representing a massive 53% increase compared to the first quarter of 2025. The impressive jump was supported by the presence of one additional race during the quarter, with three Grands Prix taking place compared to only two in the same period last year, as well as a larger proportional recognition of seasonal revenue.
The division’s adjusted OIBDA, a financial metric used to measure a company’s core operating profitability, doubled to 172 million dollars. This result was mainly driven by higher event volumes and stronger commercial performance, which more than offset the increase in operating expenses.
Formula 1 President and CEO Stefano Domenicali spoke enthusiastically about the opening phase of the championship:
“We have had an electrifying start to the season, both on and off the track, with increased overtaking and an extremely high level of competitiveness during the opening rounds.”
“We continue to see positive momentum across the entire business, including the partnership with Apple in the United States and the renewal of the agreement with Sky,” Domenicali underlined. “We remain focused on continuing to evolve the sport, strengthening the way we connect with fans around the world.”
From a commercial perspective, Formula 1 further expanded its global partner network through new multi-year agreements involving Standard Chartered, Marsh, FanDuel, and Betway. Liberty Media also confirmed the return of the Turkish Grand Prix starting from the 2027 Formula 1 season, further strengthening the championship’s international calendar.
Despite the impressive growth, the 2026 calendar was also affected by the well-known geopolitical tensions in the Middle East, which led to the Bahrain and Saudi Arabian Grands Prix originally scheduled for April not being held during the quarter.
MotoGP expands commercially and strengthens hospitality experience
As for MotoGP, quarterly revenue increased by 25%, reaching 94 million dollars, while adjusted OIBDA rose to 16 million dollars on a pro-forma basis. Although the total number of races remained unchanged, the results benefited from a different event mix that generated higher promotion fees and increased advertising revenue.
However, the MotoGP division still recorded an operating loss of 24 million dollars, mainly influenced by higher staffing costs and increased spending on professional services as Liberty Media continues investing in the championship’s long-term commercial growth.
MotoGP CEO Carmelo Ezpeleta emphasized the competitiveness and entertainment value of the series:
“The start of our season has confirmed the strength of MotoGP as a highly competitive championship, with exciting races and unpredictable results.”
“Our objective remains global expansion as we continue investing across all commercial functions,” Ezpeleta added. “We have officially launched our exclusive partnership with Quint to improve our hospitality offerings.”
On the broadcasting side, MotoGP extended its agreement with ServusTV in Austria until 2030. Meanwhile, due to the geopolitical situation, the Qatar Grand Prix was postponed until November.
Operating costs for the championship increased primarily because of logistical changes and rising fuel costs associated with the global calendar.
Capital management and long-term infrastructure investments
Beyond its core racing businesses, Liberty Media also reported disciplined financial management, with consolidated cash reserves totaling 1.332 billion dollars at the end of March 2026.
An important contribution to the company’s financial results also came from rental income linked to the Grand Prix Plaza in Las Vegas. The permanent attraction, designed as an immersive Formula 1 destination featuring interactive experiences, racing simulators, entertainment areas, and official F1 stores, generated 6 million dollars in revenue during the quarter, matching the results from the previous year.
Derek Chang summarized the company’s broader financial outlook and strategic vision:
“We started 2026 strongly, with sustained momentum in Formula 1 and the implementation of our MotoGP strategy. We remain focused on disciplined execution, investing in our world-class brands and evaluating opportunities for capital deployment,” Chang stated once again.
“Our objective remains delivering long-term value for our shareholders.”
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