• Loading stock data...
Thursday, January 2, 2025

Formula One Gets Another Win Off the Track

  • The sport’s quarterly revenue is up in a big way.
  • Parent company Liberty Media just released new earnings.
John David Mercer-USA TODAY Sports

Just days after Formula One completed the third running of the Miami Grand Prix, all signs point to business being as good as ever for the global racing circuit. Not only did the Miami race draw the sport’s highest U.S. TV audience ever, but on Wednesday, F1 parent company Liberty Media announced strong financial results.

During the first quarter of 2024, F1 generated $553 million in revenue. That’s a 45% increase over the same time period last year. There is one catch, though: Formula One raced three times in Q1 of this year (January through March), as opposed to two races during the first three months of ’23. This season, the F1 schedule will feature a record 24 races. Last year, F1 scheduled 24 races but ran only 23 after the Emilia Romagna Grand Prix was canceled due to excessive flooding. Still, Formula One generated $3.23 billion in total revenue in ’23, the most ever for the sport. 

During Q1, Liberty Media also agreed to acquire an 86% majority stake in MotoGP at a roughly $3.8 billion equity value. The deal for that motorcycle racing series is expected to close by the end of 2024.

Another Base Hit

Wednesday also marked the release of Q1 earnings for Atlanta Braves Holdings, Inc. The parent company of the MLB’s Braves that spun off from Liberty Media last year reported $37 million of revenue for the quarter, marking a 20% increase from the same period in 2023. Atlanta currently sits in second place in the NL East division and is averaging the fourth-highest attendance per game in all of MLB.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Nov 17, 2024; Inglewood, California, USA; Jac Collinsworth (left), Tony Dungy (center) and Rodney Harrison on the Sunday Night Football set at SoFi Stadium.

NBC Elevates Vikings-Lions Finale to Playoff-Level Coverage

NBC Sports will bring its full “FNIA” crew to Detroit.

Ryan Day Quiets Calls for Firing, Pockets Bonuses for CFP Wins

Ohio State’s head coach has secured at least $350,000 in bonuses.

Texas Survives CFP Test, but Ewers May Face Ultimate NIL Dilemma

The Longhorns quarterback could receive a huge NIL deal to transfer.

Featured Today

Dec 31, 2024; Chicago, Illinois, USA; Chicago Blackhawks center Connor Bedard (98) walks out to the rink before the Winter Classic against the St. Louis Blues at Wrigley Field

Glitzy NHL New Year’s Eve Winter Classic Showcased Connor Bedard’s Star Power

The business of Bedard—on full display—is crucial for the NHL.
Pop-Tarts bowl tropfy
December 27, 2024

‘I Want to Play in That Game’: How the Pop-Tarts Bowl Went..

The bowl has players saying, “I want to play in that game.”
NHL Winter Classic 2024
December 26, 2024

NHL, TNT Pinning High Hopes on First New Year’s Eve Winter Classic

Can the dream setting of Wrigley Field lift flagging viewership?
Nov 23, 2024; Corvallis, Oregon, USA; Oregon State Beavers students celebrate during the fourth quarter against the Washington State Cougars at Reser Stadium.
December 23, 2024

How the Pac-12 Rose From the Ashes in 2024

The conference went from uncertain future to remarkable comeback.
NWSL Logo

$110 Million Denver NWSL Expansion Fee Shows Speed of Women’s Sports Explosion

Colorado beat out Cleveland and Cincinnati, which was backed by Caitlin Clark.
December 30, 2024

Holiday Hostility: NBA Fights Lead to Suspensions, Costly Fines

The longest suspension was four games for Mavericks forward Naji Marshall.
2025 Winter Classic
December 31, 2024

‘Hockey in Its Purest Form’: NHL Players Tout Winter Classic at Wrigley

“It’s different, it’s big,” says Blackhawks star Bedard of the venue’s feel.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
December 30, 2024

What’s at Stake in NFL Week 18? Seeding, Viewership, Draft Position, and..

The NFL flexes a Vikings-Lions clash into the Game 272 slot.
Nov 2, 2024; Toronto, Ontario, CAN; Former Toronto Raptors player Vince Carter delivers a speech during his jersey retirement ceremony at halftime of a game against the Sacramento Kings at Scotiabank Arena.
December 28, 2024

Vince Carter: I Didn’t Want to ‘Just Put Money In’ With the..

Carter looked into NBA ownership before purchasing a stake in the Bills.
December 26, 2024

How the NFL (and Netflix) Stole Christmas From the NBA

The NFL and Netflix are elbowing onto the NBA’s turf.
LeBron James
December 26, 2024

LeBron Says NBA Owns Christmas. The NFL Knows Otherwise

The King has played on 19 consecutive Christmases.