P1racenews AI automatic summary:
F1 owner Liberty Media published its second quarter results, which included a huge jump in revenue for the championship – and a healthy boost for its teams.
F1 owner Liberty Media has reported a significant increase in revenue for the Formula One Group in the second quarter, providing a substantial benefit to the 10 current teams.
Quarterly revenue surged from $871 million in 2024 to $1,226 million this year, marking over 40 percent growth in that aspect.
The strong results of the Formula One Group are attributed to key factors such as the acquisition of MotoGP, the renewal of important grand prix events like the Canadian and Austrian races, the addition of new partners like PepsiCo, continuation of existing deals with partners like MSC Cruises, a new licensing agreement with Disney, and the successful F1 movie.
The F1 movie has already achieved over $552 million in global box office revenue, making it the most successful film for Apple and Brad Pitt, and is set to return to cinemas after its initial release in late June.
Liberty Media president & CEO, Derek Chang, stated that they have made excellent progress on their priorities, including acquiring MotoGP, advancing the split-off of Liberty Live, and displaying strong financial and operational performances at Formula 1.
