Formula One has always carried an image of glamour, speed, and global attention. From the very beginning, the sport attracted personalities from the aristocracy, entertainment, and royalty. Over the decades, that aura expanded into a massive international entertainment industry.
Today, Formula One is not only about lap times and championship battles. A broader cultural appeal now surrounds the sport, drawing in viewers who are interested in lifestyle, storytelling, and digital engagement as much as the racing itself.
A new Formula One season begins with the Australian Grand Prix on March 8, arriving soon after the release of the eighth season of the Netflix documentary series “Drive to Survive.” On the track, the main storyline centers on whether Britain’s Lando Norris can defend his championship or if the Netherlands’ Max Verstappen can regain the title.
Away from the circuit, another question carries equal weight: can Liberty Media continue expanding the sport’s commercial success?
From Hobby to Global Entertainment
Instagram | vintage.everyday | Formula One has always carried an image of glamour, speed, and global attention.
Formula One’s roots reach back to 1950, when the first official Grand Prix took place at Silverstone in England’s Midlands region. The event already reflected the sport’s blend of prestige and spectacle. Drivers included a Swiss baron, a Thai prince, and even a Belgian jazz musician. A crowd of more than 100,000 gathered trackside, among them King George VI.
At that time, motor racing operated largely as an expensive hobby for wealthy enthusiasts. Over the following decades, the sport evolved into a structured global competition. Corporate sponsorships, television coverage, and large-scale international promotion turned Formula One into a highly valuable entertainment property.
A major shift occurred in 2017 when the American media company Liberty Media purchased the commercial rights to Formula One from the private-equity firm CVC for around $8 billion. According to Formula One chief executive Stefano Domenicali, the sport was successful at the time but lacked the strategic direction needed for future growth.
Liberty Media’s Strategy
Liberty Media set out to attract younger audiences and maintain engagement beyond race weekends. The approach focused on expanding Formula One’s presence across digital platforms, streaming services, and social media channels.
The goal was simple: keep fans connected to the sport even when cars are not on the track. This meant developing stories, behind-the-scenes access, and personality-driven content throughout a season that runs from March to December.
Julian McManus of the investment firm Janus Henderson believes Liberty recognized the scale of opportunity early on. The results appear in the numbers.
• Formula One revenues reached $3.9 billion in 2025, more than double the figure recorded when Liberty took control.
• Operating profits, calculated before depreciation and amortization, climbed to $950 million.
• The company’s market value now exceeds $21 billion.
Revenue growth has come from three primary sources: race hosting fees, media rights deals, and sponsorship partnerships.
Race Fees and the Limits of Expansion
Race promoters paid roughly $1 billion in hosting fees last year. Eighteen circuits have contracts extending to at least 2030, and most agreements require increasing payments each year.
However, growth in this category has natural limits. The current Formula One calendar includes 24 races, up from 20 in 2017. Teams agreed to a maximum of 25 races per season, leaving little room for expansion.
Adding more “flyaway races” outside Europe also presents challenges. Events in countries such as China and Saudi Arabia often rely on government backing. These hosts may absorb financial losses because the prestige of staging a Grand Prix carries political and cultural value.
European promoters, by contrast, typically operate with stronger commercial considerations.
A Changing Viewing Experience
Instagram | kymillman | Domenicali calls F1 "more than a sport," labeling it a platform for business and modern entertainment.
Broadcast deals now represent the largest portion of Formula One’s income. Media rights generated about $1.2 billion last year. Streaming services have intensified competition among broadcasters seeking live sports content.
Despite this demand, traditional television viewership has declined slightly. Liberty Media reported 1.9 billion cumulative race views in 2019. By 2024, the figure stood at 1.6 billion.
Stefano Domenicali offers a different perspective on those numbers. He describes Formula One as “more than a sport,” calling it a business and entertainment platform where fan engagement continues shifting to new formats.
A recent agreement illustrates that strategy. In October, Apple TV secured American broadcasting rights for Formula One in a five-year deal worth $750 million. Liberty Media chief executive Derek Chang explains that viewing a race now represents just one part of a broader digital experience. Social platforms such as Instagram and TikTok allow fans to interact with the sport in multiple ways.
This fragmented distribution system means audiences often follow drivers, teams, and storylines across several platforms rather than relying solely on television broadcasts.
Storytelling and Lifestyle Appeal
The Netflix series “Drive to Survive” played a major role in bringing new viewers into the Formula One community. The first seven seasons together attracted about one billion views, according to Netflix.
Many of these newer fans focus on the personalities and rivalries surrounding the sport rather than the technical details of racing. Derek Chang notes that some viewers “barely watch the race” but remain deeply interested in the lives of drivers, including details such as “what Lewis Hamilton had for dinner.”
The shift appears to be working. Formula One reports a global fanbase of 827 million people, representing a growth of nearly three-fifths since 2018. Social media audiences have also expanded rapidly, reaching 115 million followers, which marks a sixfold increase over the same period.
Growth Via Apple’s Media Platforms
Apple’s involvement extends beyond broadcasting rights. The company’s broader media ecosystem—including news services, music platforms, and retail channels—creates additional opportunities to distribute Formula One content.
Apple also financed the feature film “F1,” starring Brad Pitt, which was released last year. Another arrangement allows Apple and Netflix to share live race broadcasts alongside the “Drive to Survive” series in the United States.
Such collaborations may serve as a model for future international agreements. They also support Formula One’s effort to strengthen its presence in the United States, which remains the world’s largest media market.
Stefano Domenicali acknowledges that the sport still has room to grow there, describing Formula One as “very, very small” in comparison with other American sports.
Sponsorship Growth and Engagement
Instagram | f1 | F1's rising visibility has attracted sponsorships totaling over 20% of its revenue.
Sponsors generate slightly more than one-fifth of Formula One’s total revenue. Interest from global brands has increased as the sport’s cultural visibility expands.
The number of official global partners has risen from six in 2020 to ten today. One of the most notable agreements involves the luxury conglomerate LVMH, which reportedly committed $1 billion to a ten-year partnership.
Other sponsors reveal a focus on younger audiences. Companies such as Disney and Lego have entered partnerships with Formula One, connecting the sport with entertainment franchises and retail environments familiar to younger fans.
Derek Chang offers a simple example. A child who encounters a Formula One car model at a Lego store may not immediately watch races. Yet the exposure introduces the brand to a new generation of potential followers.
Liberty Media Expands Into MotoGP
Liberty Media is applying similar ideas beyond Formula One. In 2025, the company purchased an 84 percent stake in MotoGP for €4.2 billion, or about $4.9 billion.
MotoGP, the premier series in motorcycle racing, has roughly half the fanbase of Formula One and significantly lower sponsorship income. Liberty Media believes the same approach—strong storytelling, digital distribution, and broader entertainment appeal—can raise the sport’s global profile.
Executives expect the process to take time. Building a younger audience rarely delivers immediate returns, yet the long-term potential remains substantial.
Formula One has expanded beyond traditional motor racing into a broader entertainment platform. Under Liberty Media, the sport has strengthened its financial position while building stronger digital engagement through streaming, documentaries, films, and social media.
Despite these changes, the competitive side of the sport remains essential. Title battles between drivers such as Lando Norris and Max Verstappen continue to attract global attention, while newer audiences follow the personalities and culture surrounding the sport.
This blend of racing and lifestyle appeal continues to shape Formula One’s modern growth.