Formula One revenues surge, as Liberty Media credits digital expansion and global fan growth

Liberty Media has reported a major financial leap for Formula One, revealing that the World Championship generated more than $711 million in revenue during the first quarter of 2026, representing a 53 per cent increase despite the season featuring two fewer races.

The commercial rights holder said the growth reflects expanding global viewership, stronger fan engagement and the continued evolution of Formula One into a broader entertainment and media product beyond the racetrack.

According to the company’s financial report released on May 11, Formula One’s commercial momentum has been driven by premium sponsorship agreements, renewed broadcasting partnerships and a growing digital audience increasingly consuming behind-the-scenes content and short-form media.

The figures also carry wider implications for Liberty Media’s long-term ambitions in motorsport, particularly concerning MotoGP. From 2027, the company is expected to deepen its commercial integration with teams competing in the motorcycle championship through a new agreement currently under negotiation.

Industry observers say Formula One’s transformation reflects a deliberate modernisation strategy that has reshaped how audiences interact with sport.

Joaquim Lo Prete, Country Manager of Absolut Sport, said Formula One’s recent growth demonstrates the importance of storytelling and digital presentation in attracting new audiences.

“Formula One has modernised, and it has become clear that content, especially behind-the-scenes material and new audience experiences, is fundamental to increasing viewership and generating new revenue,” he said.

The financial boost has also been supported by high-value commercial agreements with sponsors and broadcasters. New partnerships involving FanDuel, Marsh and Betway have expanded Formula One’s corporate portfolio, while broadcasting deals with Sky, Foxtel and BeIN Sports have been renewed.

The revenue growth came despite disruptions caused by geopolitical instability in the Middle East, which affected the scheduling of races in Bahrain and Saudi Arabia.

Analysts continue to point to Netflix’s documentary series Drive to Survive as one of the defining turning points in Formula One’s global resurgence.

Since its launch in 2019, the series has introduced millions of younger viewers to the sport by focusing on rivalries, team dynamics and the personalities behind the competition rather than solely the races themselves.

Experts argue that the success of the series altered audience behaviour by transforming Formula One into a year-round entertainment product capable of sustaining fan interest beyond race weekends.

Ana Clara Campos, Content Manager at End to End agency, said Formula One’s digital strategy has strengthened audience loyalty and encouraged younger fans to become active promoters of the sport online.

“A well-executed social media strategy, particularly through short-form video content and current digital trends, helps strengthen loyalty among supporters,” she said.

“These younger audiences also become ambassadors for the sport, building communities around drivers, teams and the wider Formula One culture.”

The sport’s growing dependence on complementary media products, including documentaries, social media content and city-based promotional events, reflects broader changes in the global sports industry where entertainment value increasingly extends beyond live competition.

Thiago Freitas, Operations Director at Roc Nation Sports, said the behind-the-scenes approach has fundamentally changed the relationship between fans and the sport.

“People become interested in aspects that were previously invisible to viewers. The races remain central, but Formula One now generates multiple layers of content that can be consumed independently,” he explained.

Another major contributor to Formula One’s financial expansion has been its entry into the global sports betting market.

Earlier this year, Liberty Media signed a multi-year agreement with Betway, making the company Formula One’s first official betting partner across several international markets, including Europe, Africa, the Middle East, Canada and Mexico.

Formula One’s Director of Commercial Partnerships, Jonny Haworth, had previously identified sports betting as a major untapped revenue stream for the championship.

Despite Formula One’s vast global reach, industry estimates suggest the sport currently represents only 0.4 per cent of the worldwide sports betting market, even though its audience is believed to encompass roughly 10 per cent of the global population.

Industry analysts view the partnership as part of a broader commercial shift taking place across international sport, where regulated betting markets are becoming increasingly integrated into sponsorship structures and fan engagement strategies.

Nickolas Tadeu Ribeiro de Campos, founder and chairman of Ana Gaming, described the development as a natural progression for Formula One.

“We are discussing a regulated and transparent market with legal and social responsibility frameworks already in place,” he said.

“Inevitably, Formula One is moving deeper into the sports betting ecosystem because the sport already provides global entertainment and emotional engagement for millions of supporters.”