F1's revenue stabilises after cancelled 2026 grands prix

Formula 1’s revenue has stabilised over the third quarter of 2026 as it made up for the dent caused by a relative lack of races over the previous two quarters.

The calendar shuffle and the cancelled Bahrain and Saudi Arabian rounds led to a 38% drop in revenue over the three-month period until June 30, 2026 compared to the same period in 2025.  

However, F1’s revenue has now stabilised, as F1 parent company Liberty Media announced in its third-quarter earnings report. F1’s revenue over the nine months ending September 30 is $2.496 billion USD - a reduction of just $2m compared to the same period in 2025, despite having held two fewer races over the past nine months.

Over the three months ending on September 30, 2026, F1 reported a revenue increase of 28% to $1.115bn year on year as one more race was held during this period compared to 2025. F1’s operating income has increased from $433m in 2025 to $450m in 2026 over the first nine months, but adjusted OIBDA (operating income before depreciation and amortisation) fell 5% to $649m year on year. 

F1 CEO Stefano Domenicali said that he expects the 2026 calendar to span 23 races - one fewer than 2025 - despite conflict in the Middle East putting the Qatar and Abu Dhabi Grands Prix at risk. 

“I'm proud to say that we again demonstrated F1's ability to solve challenges by successfully staging the Bahrain Grand Prix in Malaysia, and the event was a resounding success, reflecting the resilience of our business model and the incredible ability of our teams and partners to find creative solutions to ensure we can go racing,” said Domenicali during the Q3 earnings call. 

“I'd also note that the disruption we experienced in the Middle East this year does not change our long-term regional strategy and ongoing partnership with our promoters. This year we currently remain scheduled to complete our calendar this season and at this stage continue to plan to finish the season in Qatar and Abu Dhabi.”

The championship’s primary F1 revenue decreased due to the cancelled races, but sponsorship revenue and hospitality revenue have grown. 

“Every race this season has sold out, with more than half setting attendance records and our digital impressions and audiences continue to grow,” said Domenicali, who explained that F1 is exploring adding Paddock Club hospitality capacity in Shanghai, Silverstone, Austria, and "several other races".

He added: “Season to date through Austin, we have welcomed 5.8 million fans and had 18 consecutive sold-out events, with 11 races setting new attendance records. Audiences are up, our social channels continue to grow, and the feedback from our fans in our surveys has been overwhelmingly positive.”

Lower costs associated with hosting activities at the F1-owned Grand Prix Plaza in Las Vegas have also helped F1 achieve healthier balance sheets, but the FIA’s fees, freight costs, administrative expenses (primarily due to higher personnel costs) and higher information technology costs have chipped away at F1’s income. 

Over the past three months, F1 has announced the 2027 calendar with 10 sprints, the African Grand Prix in Rwanda in the 2030s, and the F1 Live event in Milan in February 2027.

“Africa is estimated to be home to more than 100 million Formula 1 fans already, with almost 60% of fans in key sub-Saharan markets under the age of 35. So the long-term growth opportunities here are enormous,” said Domenicali.

Partnership and licensing deals with Liqui Moly, Standard Chartered, Disney, and Mattel, plus F1's flagship pop-up stores and hubs also bolstered F1’s books over the last quarter.

F1 has also seen growth in its social media following - up to 129 million and up 16% year-on-year - while total YouTube views have now surpassed 1.7 billion, up 30% as race highlights comprise 217m of those views, up 25% year on year.