Formula One Group Q2 2026 Earnings Recap

Liberty Media's shares gained 6.4% as Formula One's digital viewership growth and new sponsorship deals demonstrated resilience despite a significant race count-related revenue decline; MotoGP's strengthened agreements and fan engagement initiatives also contributed to investor optimism.

Key Takeaways

• Formula One's year-to-date revenue declined 15% and adjusted OIBDA fell 30%, driven primarily by a 27% reduction in race count impacting season-based revenue recognition.
• Underlying contractual fee increases and new sponsorships partially offset softer media rights revenue, which was also affected by last year's one-time F1 movie revenue.
• F1 viewership on Apple TV rose 13% year-over-year, attracting a younger and more female audience, supporting momentum in digital distribution and sponsorship assets.
• MotoGP secured manufacturer and team agreements through 2031, positioned for long-term commercial growth alongside new media deals in Europe and successful fan activations.
• Calendar adjustments include rescheduling the Bahrain GP to October (in Malaysia) and an expectation of a return to a full 24-race schedule next season.