Strong Full-Year Financial Performance at F1
Formula One revenue grew 14% year-over-year and adjusted OIBDA grew 20% for full-year 2025, driven by growth across sponsorship, media rights (including F1 TV), race promotion, hospitality and licensing.
Improving Leverage Metrics
F1 OpCo net leverage improved to 2.8x (down from 3.3x pro forma at 6/30), MotoGP net leverage declined to 4.7x (from 5.6x at 9/30) and Liberty Media overall net leverage was 3.6x, with management expecting continued deleveraging at MotoGP.
Healthy Cash and Liquidity Position
Liberty Media reported $1.1 billion of cash and liquid investments at year-end, including $539 million at F1 and $197 million at MotoGP, and both F1's $500 million and MotoGP's EUR 100 million revolvers were undrawn.
Major Fan and Engagement Growth for F1
F1 attendance reached a record 6.75 million (up 4% YoY), Paddock Club served 65,000 race day guests (up 10%) with ~20% higher revenue per race on average, global live TV viewership across sessions was up 21% YoY, qualifying audiences rose 23% and Sprint session viewership was up 10%.
Digital and Social Momentum for F1
F1 YouTube content generated 1.65 billion views (up 48% YoY), YouTube highlights views up 21%, cumulative social media followers reached 150 million (nearly +20% YoY) and digital activations (including Drive to Survive) continue to drive reach and awareness.
MotoGP Rapid Audience and Commercial Progress
MotoGP reported record attendance of 3.6 million (up 21% YoY), first-time attendees rose to 27% (from 18%), global fan base 632 million (up 12%), social followers added >3 million to nearly 61 million, social engagement +61%, video views +20% (ex. VideoPass) and VideoPass subscribers grew 5% YoY.
Strategic Portfolio Actions and Partnerships
Liberty executed the Liberty Live split-off, closed the MotoGP acquisition, finalized the new Concorde Agreement through 2030, and secured multiple media and commercial renewals/expansions (e.g., Apple in the U.S., beIN in Pan-Asia, ESPN in Latin America, Standard Chartered sponsorship).
Las Vegas Grand Prix Success
The third Las Vegas Grand Prix sold out the weekend with over 300,000 attendees, delivered improved financial performance year-over-year, generated ~1.8 billion impressions over the weekend, and materially benefited sponsorship, hospitality and licensing revenue streams.