Formula One Hits Record Revenue in Q1 2026 Amid Global Expansion
Formula One has kicked off the 2026 season with a massive financial surge, reporting Q1 revenues of US$617 million for the three months ending March 31. This represents a 53 per cent year-over-year increase and surpasses the previous record of US$553 million set in 2024.
While the sport faces a challenging season ahead—including the impact of cancelled Grands Prix in Bahrain and Saudi Arabia that will hit Q2 results—the first quarter demonstrates the continued commercial potency of the F1 brand. The revenue jump was primarily driven by a denser race calendar, with three races held during this period compared to two in the previous year.
Financial Performance Breakdown
The increase in race frequency created a positive ripple effect across Formula One’s three primary commercial pillars: media rights, race promotion, and sponsorship. Hospitality revenues also saw a corresponding boost.
Key financial metrics for Q1 2026 include:
- Revenue: US$617 million (up 53% YoY).
- Operating Income: US$107 million, a significant recovery from a US$28 million loss recorded in the same period last year.
- Adjusted OIBDA: US$172 million, marking a 102 per cent year-over-year increase.
Despite the strong recovery from 2025, the series has not yet reclaimed its 2024 peaks for operating income (US$136 million) and adjusted OIBDA (US$208 million).
Strategic Media and Sponsorship Growth
Beyond the calendar expansion, Formula One has aggressively expanded its global footprint through high-value media deals and diversified partnerships. The series secured a new media rights agreement with Foxtel in Australia, reported to be worth AUS$60 million (US$42 million) annually, and extended its contract with BeIN Sports across Asia through the end of the 2030 season.
The sport is also diversifying its sponsorship portfolio by entering new sectors. Formula One welcomed Betway as its first-ever betting operator, with a multi-year deal covering Canada, Mexico, Europe, the Middle East, and Africa. Other key commercial developments include:
- Standard Chartered: Named as the official wealth management and corporate and investment banking partner in January.
- Salesforce and Allwyn: Both companies signed major extensions aimed at deepening fan engagement.
- Apple and Sky: Continued growth through a strong start to the US partnership with Apple and a renewed multi-year agreement with Sky.
Rising Global Viewership
Despite some fan criticism regarding the racing product, the data shows that the sport’s reach is expanding. Global TV viewership rose across the first three races of the season, with notable year-over-year increases in key markets:
- China: 30 per cent increase.
- Australia: 23 per cent increase.
- Japan: 20 per cent increase.
Leadership Perspective
Derek Chang, president and chief executive of Liberty Media, highlighted the momentum behind the sport’s long-term strategy. “Formula One continues to demonstrate the strength of its global platform, with growing audiences and deepening fan engagement driving robust demand across all commercial elements,” Chang stated.
Stefano Domenicali, president and chief executive of Formula One, emphasized the commitment to improving the on-track product. “We remain focused on continuing to evolve the sport – including strengthening how we connect with fans globally and working with the FIA [International Automobile Federation] and teams to make the racing product even better,” Domenicali added.
Key Takeaways: F1 Q1 2026 Financials
| Metric | Q1 2026 Result | Year-over-Year Change |
|---|---|---|
| Total Revenue | US$617 Million | +53% |
| Operating Income | US$107 Million | Recovered from US$28M loss |
| Adjusted OIBDA | US$172 Million | +102% |
| Viewership (China) | N/A | +30% |
As Formula One moves into the second quarter, the focus will shift toward mitigating the financial losses from cancelled events in the Middle East while continuing to leverage its growing global audience to drive long-term shareholder value.