How Liberty Media Fuels Formula 1's Commercial Growth
Since its 2017 acquisition, Liberty Media has modernised F1’s brand, diversified revenue streams through digital innovations and driven audience growth.
Liberty Media completed its acquisition of Formula 1 on 23 January 2017, marking the end of Bernie Ecclestone’s era and the start of a new commercial rights management structure. The purchase was executed through Liberty’s Delta Topco subsidiary and immediately led to the appointment of Chase Carey as CEO. This strategic move aimed to unlock F1’s untapped digital and sponsorship potential across global markets.
Early in 2018, F1’s brand underwent modernisation under Liberty’s direction. A new logo replaced the iconic 1987 design, adopting solid red typography to improve digital readability. In March of that year, Hollywood composer Brian Tyler recorded the first Official F1 Theme with the London Philharmonic Orchestra, debuting a new audio signature. These rebranding efforts were designed to attract younger fans and refresh the sport’s image.
Content restrictions loosened significantly after 2017, enabling teams and drivers to share behind‑the‑scenes footage across social platforms. By the end of 2024, F1’s official channels had amassed 97M followers. This digital engagement strategy broadened the sport’s appeal among female and younger demographics and established F1 as a leading live‑sports content provider on platforms including YouTube, Instagram and TikTok.
Under Liberty Media, F1’s revenue grew modestly by 6% year‑on‑year to $3.65B in 2024. Media rights fees accounted for 32.8% of total income, while race promotion generated 29.3 per cent and sponsorship contributed 18.6%. Renegotiated broadcast contracts and expanded F1 TV subscriptions drove media growth, and high‑value alliances such as Oracle‑Red Bull and HP‑Ferrari underpinned sponsorship earnings.
F1’s partnership with AWS introduced real‑time analytics in 2018. Cars equipped with over 300 sensors generate about 1.1M telemetry data points per second, streamed to AWS for processing. These insights power the F1 Insights suite, enabling broadcast graphics and fan tools such as Alternative Strategy. This data‑driven approach has significantly enhanced race strategy, content offerings and audience understanding of on‑track dynamics.
Esports also bolstered F1’s digital portfolio, with the F1 Esports Series achieving over 23M+ views in 2021. The programme, presented by Aramco, saw year‑on‑year viewership rise by 103%, as flagship Pro Championship events delivered immersive broadcasts and interactive features. This virtual competition significantly complemented the traditional calendar, engaging fans during pandemic interruptions and rapidly extending F1’s brand.
Strategic calendar expansion has driven U.S. interest, with the Miami Grand Prix debuting in May 2022 and Las Vegas joining in November 2023. Attendance at Miami surged to 275K spectators in 2024, while these races now rank among F1’s most‑watched events on American networks. Prospective plans for a South Korean return aim to tap Asia’s lucrative motorsport audience and further diversify the championship’s geographic footprint.
Beyond broadcasting, F1 has introduced immersive fan experiences such as the F1 Fan Festival and elite hospitality via the Paddock Club. The Paddock Club offers premium trackside views, gourmet cuisine and exclusive pit‑lane access at a typical US$5K weekend package, with ticket sales estimated at 47K annually. These premium offerings reinforce F1’s luxury positioning and contribute significant ancillary revenue beyond traditional streams.
Under Liberty’s stewardship, F1 has positioned itself as an entertainment spearhead. Drive to Survive’s partnership with Netflix, launched in March 2019, humanised the sport and spurred global viewership, while rebranded digital platforms and studio content deepened fan engagement. These initiatives transformed F1 from a traditional championship into a comprehensive ecosystem, blending live sport with documentary narrative.
By uniting diversified revenue channels, technological innovation and premium experiences, Liberty Media has elevated F1’s valuation and market appeal. Long‑term sponsorship contracts and dynamic broadcast rights have increased predictability, while data‑driven content has opened new commercial avenues. This model has positioned F1 as a brand capable of adapting to evolving consumer trends and value creation across markets.
F1 has committed to net‑zero carbon by 2030, with advanced sustainable fuels entering cars in 2026 and a 13% carbon footprint reduction since 2018. Initiatives include optimising logistics, energy efficiency in operations and developing drop‑in biofuels that align road‑car and race‑car technology. This roadmap enhances F1’s corporate responsibility credentials and aligns with the global environmental by appealing to eco‑conscious stakeholders.
Future U.S. media rights negotiations reflect F1’s growing broadcast value, with Liberty Media seeking deals upwards of US$180M per annum from 2026 onwards. Despite cord‑cutting trends, interest from digital platforms and premium broadcasters underscores F1’s appeal. The outcome of these negotiations will influence revenue allocations, audience reach and strategic partnerships, setting the tone for the sport’s commercial trajectory.