Liberty Media Corporation Series B Liberty Formula One ( (FWONB) ) has released its Q4 earnings. Here is a breakdown of the information Liberty Media Corporation Series B Liberty Formula One presented to its investors.
Liberty Media Corporation, a prominent player in the media and entertainment sector, is known for its diverse interests, including its significant stake in Formula One racing and investments in live entertainment through Live Nation. The company recently released its financial results for the fourth quarter and full year of 2024, showcasing notable achievements and strategic developments.
Liberty Media reported a strong year for its Formula One Group, with fan attendance reaching 6.5 million, a 9% increase from 2023, and cumulative TV viewership hitting 1.6 billion. The company successfully renewed several race promotion agreements and expanded its sponsorship portfolio, including a long-term partnership with Crypto.com. Despite a slight decline in fourth-quarter revenue, the full-year revenue for Formula One grew by 6%, driven by increased race promotion, media rights, and sponsorship revenues.
The financial performance of the Formula One Group was marked by a 9% increase in Adjusted OIBDA for the year, although it faced a 15% decline in the fourth quarter. Operating income for Formula One also saw a 26% increase year-over-year. Liberty Live Group, which includes the company’s investment in Live Nation, reported a fair value of $9 billion as of the end of 2024, reflecting a robust investment portfolio.
Looking ahead, Liberty Media’s management remains optimistic about 2025, with plans to leverage Formula One’s success and complete the acquisition of MotoGP. The company is focused on executing its strategic priorities to drive shareholder value, maintaining momentum in its diverse business operations.