Thursday November 30, 2023

Liberty Media Records $2.88B in Q2 Revenue

Formula 1/Design: Alex Brooks
Linkedin
Copy Link
Link Copied
Link Copied

Liberty Media — home to Formula 1, the Atlanta Braves, and SiriusXM — reported Q2 earnings Friday. Revenue was up for all three divisions and increased from $1.91 billion to $2.88 billion overall.

Total operating income reached $622 million compared to $214 million during the same quarter last year.

Formula 1 had the biggest quarter, with revenue jumping from $24 million to $501 million year-over-year and up from $180 million in Q1. The spike comes as the sport continues to gain viewers and evolve its offerings.

  • June 29: F1 announced a five-year, $100 million global partnership with Crypto.com.
  • April 26: It agreed to a new “sprint” format for qualifying races.
  • April 19: It finalized a 10-year deal to race at the Hard Rock Stadium in Miami.

Liberty acquired F1 from private equity firm CVC for $4.6 billion in 2017.

The Braves saw revenue surge too, from $11 million to $216 million year-over-year. As venues bring back fans, the Braves have led MLB in total attendance and average attendance per game this season.

SiriusXM — which hosts a wide range of sports programs from NASCAR, ESPN, and others — saw revenue increase 15% year-over-year to $2.16 billion. Liberty owns 78.1% of the satellite radio service.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Red Bull Racing driver Max Verstappen of The Netherlands celebrates his victory of the Las Vegas Grand Prix at Las Vegas Strip Circuit.

The 10 Highest-Paid Formula 1 Drivers For 2023

Red Bull Racing’s Max Verstappen tops the list with $70 million.
The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.

Red Bull-Dominated Formula 1 Season Ends With Expansion Unsettled

The Abu Dhabi Grand Prix ended the 2023 F1 season.
podcast thumbnail mobile
Front Office Sports Today

What’s Next for Mark Cuban, Mavericks After $3.5B Sale?

0:00
0:00

Featured Today

Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.
LSU Lady Tigers head coach Kim Mulkey reacts against the Iowa Hawkeyes during the NCAA Womens Basketball Final Four National Championship at American Airlines Center.
November 6, 2023

Who Is The Highest-Paid Women’s College Basketball Coach?

LSU rewarded Kim Mulkey after winning a national title after her second year leading the program.
The Pac-12’s Collapse Will Have Ripple Effects on College Basketball.
November 6, 2023

The Pac-12’s Collapse Will Have Ripple Effects on College Basketball

The existing Pac-12 host a college basketball season for the last time.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Wasserman
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers
Detailed view of the new In-Season Tournament court before the game between the New Orleans Pelicans and the Dallas Mavericks at the Smoothie King Center.

New Orleans Pelicans Reportedly Headed For Local Television

The Pelicans could air games on over-the-air channel Fox 8.
November 29, 2023

NASCAR Secures $7.7B Media Rights Deals

Amazon and Warner Bros. Discovery come on as new partners.
Professional-Fighters-League
November 30, 2023

PFL, ESPN Agree on New Multiyear Broadcast Rights Deal

ESPN+ PPV will be the home of the PFL’s new Super Fight Division.
Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
disney wbd
November 29, 2023

Disney, WBD Chiefs Lament New Sports Media Challenges

Zaslav, Iger point to heightened complexity of their sports media operations.
Philadelphia Eagles quarterback Jalen Hurts tosses the ball to fans after scoring a touchdown against the Buffalo Bills during the first quarter at Lincoln Financial Field.
November 29, 2023

The Philadelphia Eagles Continue To Be NFL’s Biggest Draw

Philadelphia was once again in one of the NFL's most-watched games.
Michigan Wolverines running back Blake Corum rushes in the second half against the Ohio State Buckeyes at Michigan Stadium.
November 29, 2023

Ohio State-Michigan Thriller Produces Record Viewership For Fox

It was the most-watched regular season CFB game in Fox’s history.
Miami Dolphins running back Raheem Mostert runs with the ball against New York Jets cornerback Sauce Gardner during the second half at MetLife Stadium.
November 29, 2023

On Black Friday, Amazon Delivers Lowest-Rated Game

It was the second-least-watched game on Amazon in 2023.