Liberty Media, the US media company that owns Formula 1, reported a sharp decline in second-quarter 2026 revenue after a series of race postponements disrupted the championship calendar.
Formula 1 generated $764 million in revenue during the three months ending June 30, down 38% from $1.22 billion in the same period last year. Operating profit also fell significantly to $73 million, compared with $293 million a year earlier, while adjusted OIBDA dropped 61% year over year to $139 million.
The primary reason for the decline was the reduced number of races held during the quarter. Only five Grands Prix took place in Q2 2026, compared with nine races during the same period in 2025.
The disruption stemmed largely from the regional conflict in the Middle East, which forced the postponement of the Bahrain and Saudi Arabian Grands Prix, originally scheduled for April. Bahrain has since been replaced on the calendar by a race in Malaysia, which is set to take place in early October.
Across Liberty Media’s entire portfolio, total second-quarter revenue reached $934 million, down from $1.34 billion in the prior-year period.
MotoGP revenue remains relatively stable
Liberty Media also included financial results from MotoGP, following the completion of its acquisition of an 84% stake in the championship through the purchase of Dorna Sports last year in a deal valued at approximately $3.1 billion.
MotoGP’s pro forma financial results showed total motorsport revenue slipping 2%, from $173 million to $170 million during the quarter. Primary revenue also declined 3%, falling from $154 million to $150 million, mainly due to lower media rights income and reduced title sponsorship revenue linked to the event mix.
Commercial momentum continues despite calendar disruption
Liberty Media President and CEO Derek Chang said demand for both Formula 1 and MotoGP remains strong despite global challenges.
He noted that Liberty continues to explore ways to navigate geopolitical uncertainty while expanding MotoGP’s international footprint and building on Formula 1’s growing global audience and commercial appeal.
Formula 1’s primary revenue continued to come from race promotion fees, media rights and sponsorship agreements, which collectively generated $622 million during the quarter, compared with more than $1 billion a year earlier. Hospitality, freight and licensing revenues also declined due to the smaller number of race weekends.
Despite the challenging quarter, Formula 1 continued to strengthen its commercial portfolio by extending the Las Vegas Grand Prix through 2037, renewing its partnership with Pirelli, and signing a new broadcast agreement with ServusTV in Austria.
The 2026 Formula 1 season is currently expected to feature 23 races, one fewer than the 24-race calendar in 2025.