Liberty Media records significant F1 income drop as cancellations hit
The Saudi Arabian Grand Prix was one of two races cancelled earlier in 2026, though Bahrain has since been rescheduled.
Liberty Media, commercial rights holder of Formula 1, has reported a 38 per cent drop in revenue compared to this time last season, with the impact of two cancelled races among the reasons.
The Bahrain and Saudi Arabian Grands Prix were cancelled due to ongoing conflict in the Middle East and, while the Bahrain event has since been rescheduled for later this season, to be held in Malaysia, there were three fewer races to the end of June compared to 2025.
F1 owners Liberty Media record 38 per cent revenue drop amid cancelled race impact
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Liberty Media quarterly earnings reveal overall F1 revenue decreased by 38 per cent to $764million [£567m] in the three months to the end of June, while Formula One Media’s adjusted OIBDA [operating income before depreciation and amortisation] decreased by 61 per cent, to $139m.
The drop was attributed in part to there having been fewer races compared to the first half of 2025, with hosting, race sponsorship and media rights fees being a significant source of revenue for the sport.
Bahrain and Saudi Arabia are also among two of the highest fee-payers on the calendar for their respective places in Formula 1, compounding the effect of the cancellations – though the Bahrain Grand Prix event is set to feature later in the year at Sepang.
Fewer races resulted in reduced payments to teams, but equally a reduction in hospitality sales and freight revenue.
Selling, general and administrative costs increased by $11m in the second quarter of 2026, too, with that attributed to higher costs for personnel and information technology.
Liberty acknowledged that “additional calendar changes may be necessary” this season, with back-up plans understood to be in the works for the season to finish in Europe, if the Qatar or Abu Dhabi Grand Prix cannot be staged.
While there was a drop in overall income, Stefano Domenicali looked at the landmarks on and off track the sport has taken in during the first half of 2026.
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“This season has showcased the very best of our sport with competitive racing and fascinating storylines that are driving strong fan engagement with attendance, audiences and digital impressions all up season-to-date,” said the sport’s commercial boss.
“Our sport continues to demonstrate its adaptability and creativity – the Bahrain Grand Prix for 2026 will be hosted in Malaysia following the agreement announced last week.
“Our partnership with Apple continues yielding positive engagement, with viewership up year-over-year, season-to-date and total hours watched up 13 per cent.
“We continue to see momentum across our business, including signing a landmark 10-year extension in Las Vegas and working with well-respected partners such as ServusTV and Pirelli.
“We remain focused on strengthening the foundation of our sport together with the teams and the FIA to deliver the best possible experience for our fans around the world, both on and off track.”
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