The F1 goose continues to put golden eggs as income will increase for the fourth successive yr.
At $3.65bn 2024’s income was up 18% on 2023’s $3.22bn, regardless of the ultimate quarter being down on the earlier yr. The $1.16bn achieved within the ultimate three months of 2024 – in comparison with $1.23 in 2023 – put right down to much less cash incoming from the (F1 promoted) race in Las Vegas.
Funds to groups in 2024 have been up 4% from $1.21bn to $1.26, of which extra later.
The vast majority of F1’s income and is derived from race promotion income, media rights charges and sponsorship charges, and for 2024 these income streams comprised 29.3%, 32.8% and 18.6%, respectively, of the game’s complete income.
Sponsorship income grew as a result of recognition of income from new sponsors, contractual will increase from current sponsors and extra sponsorship stock with two extra races held. Media rights income elevated as a result of contractual will increase in charges and continued progress in F1 TV subscription income, whereas race promotion income grew primarily as a result of charges from the 2 extra races held in comparison with the prior yr, following the return of China and Imola to the calendar, in addition to contractual will increase in charges, partially offset by decrease ticketing income generated from the Las Vegas Grand Prix.
Major income decreased within the fourth quarter primarily pushed by a decline in race promotion and media rights income. Race promotion income decreased as a result of decrease ticketing income generated from the Las Vegas Grand Prix. Media rights income declined because of the decrease proportionate recognition of season-based revenue (6/24 races came about within the fourth quarter of 2024 in comparison with 6/22 within the fourth quarter of 2023), partially offset by continued progress in F1 TV subscription income. Sponsorship income elevated within the fourth quarter as a result of recognition of income from new sponsors, which offset the decrease proportion of season-based income acknowledged.
Different F1 income decreased within the full yr and fourth quarter. Progress in hospitality revenue at most occasions and better freight and licensing income was offset by decrease hospitality income generated from the Las Vegas Grand Prix. For the complete yr, Different F1 income additionally benefited from the sale of recent F2 automobiles and related components at the start of the brand new F2 automobile cycle.
“As I mirror on my first month as CEO, I’m energized by the alternatives forward at Liberty Media and our portfolio firms,” mentioned Derek Chang, Liberty Media President & CEO. “My time as a board member has enabled an environment friendly transition as we transfer shortly to perform our strategic priorities for 2025. This consists of capitalizing on Components 1’s success with the important thing constructing blocks to drive continued progress, closing the acquisition of MotoGP and addressing the Liberty Reside construction. I’m dedicated to sustaining our present momentum and dealing with the Liberty crew as we execute our technique to drive shareholder worth.”
“Components 1 capped off a file 2024 in race depend, income and Adjusted OIBDA,” added Stefano Domenicali, F1 President and CEO. “We’re equally optimistic about 2025 as we mark F1’s seventy fifth anniversary which is able to present incremental momentum for our model, and we celebrated this milestone by welcoming your entire F1 group to a primary of its sort season launch occasion at The O2 final week.
“Our sponsorship roster is the strongest within the sport’s historical past and the business pipeline stays sturdy. This business success is paired with on-track pleasure, as we count on extra intense competitors after final season’s extremely aggressive Championship and we welcome a number of rookie drivers to the grid.”
As for the crew funds, these are based mostly on the constructors’ standing in 2023, and distributed on a sliding scale.
Consequently, based on our previous pal Mat Coch at Speedcafe, this implies £140m ($176m) for Crimson Bull, £131m ($165m) for Mercedes, £122m ($153m) for Ferrari and £113 ($142m) for McLaren, all of that are better than the $135m (£107.3m) value cap in 2024.
Aston Martin acquired £103.9m ($130.7), Alpine £94.9m ($119m), Williams £87m ($109m), RB £78m ($98m), Sauber £69m ($86.8m) and Haas £60m ($75m).
