Formula 1 has reported a major financial surge in the first quarter of 2026, with revenue climbing 53% year-over-year to a record US$617 million.
The figure surpasses the previous Q1 high of US$553 million set in 2024 and highlights the continued commercial expansion of the championship despite concerns surrounding the on-track product and calendar disruptions.
Operating income rose sharply to US$107 million after the series posted a US$28 million loss during the same period last year. Adjusted OIBDA also doubled, increasing 102% year-over-year to US$172 million, although both profitability metrics remained below the all-time highs recorded in 2024.
A key driver behind the revenue increase was the presence of three Grands Prix during the quarter compared to only two in Q1 of last season. The additional race boosted all three core pillars of Formula One’s business model: media rights, race promotion fees, and sponsorship revenues. Hospitality income also benefited from the expanded schedule.
However, the championship warned that the financial impact of the cancelled Bahrain and Saudi Arabian Grands Prix will not become visible until the second-quarter financial results later this year.
Commercial momentum remained strong away from the track. Formula One secured a new broadcast agreement with Foxtel in Australia reportedly worth AUS$60 million (US$42 million) annually, while also extending its regional partnership with beIN Sports across Asia through the 2030 season.
The series also entered the betting sector for the first time through a multi-year partnership with Betway covering Europe, the Middle East, Africa, Canada, and Mexico.
Additional commercial extensions were signed with Salesforce and Allwyn, both focused on expanding fan engagement opportunities within the sport.
Despite criticism from some fans regarding the racing spectacle, Formula One’s global television audiences continued to grow across the opening races of the season. Viewership reportedly increased by 23% for the Australian Grand Prix, 30% for China, and 20% for Japan compared to last year.
Derek Chang, president and chief executive of Liberty Media, described the results as a strong start to 2026 and pointed to continued momentum across both Formula One and MotoGP.
Meanwhile, Stefano Domenicali highlighted the competitiveness of the opening races and referenced growing partnerships with companies including Apple, Sky, Standard Chartered, and Marsh.
Formula One stated it remains focused on improving fan engagement globally while continuing to work with the FIA and teams to enhance the racing product.