\nLiberty Media Corporation (\u201cLiberty Media\u201d or \u201cLiberty\u201d) (NASDAQ: FWONA, FWONK) today reported second quarter 2026 results. Headlines include(1)<\/sup>:<\/p>\n
- \n
- \nFormula 1<\/p>\n
- \n
- \nWith 4 fewer races held for the three months ended June 30, 2026, revenue decreased 38% to $764 million, operating income was $73 million and Adjusted OIBDA(2)<\/sup> decreased 61% to $139 million as compared to the same period in 2025<\/p>\n<\/li>\n
- \nWith 3 fewer races held for the six months ended June 30, 2026, revenue decreased 15% to $1,381 million, operating income was $180 million and Adjusted OIBDAdecreased 30% to $311 million as compared to the same period in 2025<\/p>\n
- \n
- \nThe first half of the year recognized season-based revenue and costs with respect to an assumed 22-race calendar<\/p>\n<\/li>\n<\/ul>\n<\/li>\n
- \nRescheduled Bahrain Grand Prix to be held in Malaysia in October, increasing assumed calendar to 23 races<\/p>\n<\/li>\n
- \nAnnounced 10-year extension of the Las Vegas Grand Prix through 2037<\/p>\n<\/li>\n
- \nExtended Pirelli partnership through 2028<\/p>\n<\/li>\n
- \nRenewed broadcast agreement with ServusTV in Austria in a multi-year agreement<\/p>\n<\/li>\n<\/ul>\n<\/li>\n
- \nMotoGP<\/p>\n
- \n
- \nFor the three months ended June 30, 2026, MotoGP revenue decreased 2% to $170 million, operating income was $37 million and Adjusted OIBDA(2)<\/sup> increased 3% to $76 million on a USD and pro-forma basis as if the acquisition closed on January 1, 2024(3)<\/sup>, with 7 races held in each period<\/p>\n<\/li>\n
- \nFor the six months ended June 30, 2026, MotoGP revenue increased 6% to $264 million, operating income was $13 million and Adjusted OIBDAincreased 10% to $92 million on a USD and pro-forma basis as if the acquisition closed on January 1, 2024, with 10 races held in each period<\/p>\n<\/li>\n
- \nRe-priced MotoGP debt facilities and funded $114 million debt reduction<\/p>\n<\/li>\n
- \nSigned new 5-year agreements with all manufacturers and teams through 2031, providing alignment and a shared long-term vision for growing the sport<\/p>\n<\/li>\n
- \nRenewed agreements with Malaysia through 2031 and Silverstone through 2028<\/p>\n<\/li>\n
- \nExtended broadcast agreements with DAZN in Spain and Sky DACH covering Austria, Germany and Switzerland in multi-year agreements<\/p>\n<\/li>\n
- \nAnnounced CAA as global sponsorship agency<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
\n\u201cDemand for our brands remains robust and resilient and we are continuing to find creative solutions to deal with global uncertainties. We are one year into our ownership of MotoGP and remain encouraged by the opportunities to grow the sport globally while Formula 1\u2019s expanding reach and deepening fan engagement continue to support strong commercial momentum. Disciplined capital allocation remains a core priority as we evaluate strategic investment opportunities to enhance long-term shareholder value,\u201d said Derek Chang, Liberty Media President and CEO.<\/p>\n
Discussion of Results<\/span><\/p>\n
\nUnless otherwise noted, the following discussion and table compares the financial results of Liberty Media for the three and six months ended June 30, 2026 to the same periods in 2025. In the second quarter, Liberty Media incurred $20 million of corporate level selling, general and administrative expense (including stock-based compensation expense).<\/p>\n
\nLiberty Media\u2019s most significant subsidiaries are F1 and MotoGP. Quint was consolidated in the results presented below until the split-off of Liberty Live Holdings, Inc. on December 15, 2025. Liberty\u2019s financial results in the table below only include MotoGP results from the date of acquisition.<\/p>\n
\n
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\n \namounts in millions (unaudited)<\/p>\n<\/td>\n<\/tr>\n
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\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFormula 1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,226<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
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\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,381<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nMotoGP<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
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\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n264<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCorporate and other<\/p>\n<\/td>\n
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\n \n\u00a0<\/p>\n<\/td>\n
\n \n12<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nElimination<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
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\n \n(12<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nConsolidated Liberty<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,341<\/p>\n<\/td>\n
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\n \n1,788<\/p>\n<\/td>\n
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\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,645<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Operating Income (Loss)<\/i><\/b><\/p>\n<\/td>\n
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\n \n \nFormula 1<\/p>\n<\/td>\n
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\n \n293<\/p>\n<\/td>\n
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\n \n180<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nMotoGP<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
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\n \n37<\/p>\n<\/td>\n
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\n \n \nConsolidated Liberty<\/p>\n<\/td>\n
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\n \n Adjusted OIBDA (Loss)<\/i><\/b><\/p>\n<\/td>\n
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\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFormula 1<\/p>\n<\/td>\n
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\n \n311<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nMotoGP<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
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\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n92<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCorporate and other<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(9<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(4<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(16<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nConsolidated Liberty<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n369<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n206<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
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\n \n442<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n387<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
F1 Operating Results<\/span><\/p>\n
\n\u201cThis season has showcased the very best of our sport with competitive racing and fascinating storylines that are driving strong fan engagement with attendance, audiences and digital impressions all up season-to-date. Our sport continues to demonstrate its adaptability and creativity \u2013 the Bahrain Grand Prix for 2026 will be hosted in Malaysia following the agreement announced last week,\u201d said Stefano Domenicali, Formula 1 President and CEO. \u201cOur partnership with Apple continues yielding positive engagement, with viewership up year-over-year, season-to-date and total hours watched up 13%. We continue to see momentum across our business, including signing a landmark 10-year extension in Las Vegas and working with well-respected partners such as ServusTV and Pirelli. We remain focused on strengthening the foundation of our sport together with the teams and the FIA to deliver the best possible experience for our fans around the world, both on and off track.\u201d<\/p>\n
\nThe following table provides the operating results of F1.<\/p>\n
- \nFor the three months ended June 30, 2026, MotoGP revenue decreased 2% to $170 million, operating income was $37 million and Adjusted OIBDA(2)<\/sup> increased 3% to $76 million on a USD and pro-forma basis as if the acquisition closed on January 1, 2024(3)<\/sup>, with 7 races held in each period<\/p>\n<\/li>\n
- \nWith 3 fewer races held for the six months ended June 30, 2026, revenue decreased 15% to $1,381 million, operating income was $180 million and Adjusted OIBDAdecreased 30% to $311 million as compared to the same period in 2025<\/p>\n
- \nWith 4 fewer races held for the three months ended June 30, 2026, revenue decreased 38% to $764 million, operating income was $73 million and Adjusted OIBDA(2)<\/sup> decreased 61% to $139 million as compared to the same period in 2025<\/p>\n<\/li>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260805951081\/en\/262528\/3\/Liberty_logo_high_def.jpg\"){kind=logo}
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