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Liberty Media's Business Segments
Liberty Media's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q1 FY2026
Reportable Segments
3
Largest Segment
Formula One
Total Revenue
$ 711
Regions Reported
-
Revenue Share by Reportable Segment - Q1 FY2026
- Formula One86.8%
- MotoGP13.2%
- Corporate and Unallocated0.8%
Revenue by Reportable Segment - Q1 FY2026
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Formula One | $ 617 | 86.8% |
| MotoGP | $ 94 | 13.2% |
| Corporate and Unallocated | $ 6 | 0.8% |
Revenue by Product & Service Category - Q1 FY2026
- Motorsport100%
- Primary81.4%
- Product and Service Other0.8%
Revenue by Product & Service Category - Q1 FY2026
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Motorsport | $ 711 | 100% |
| Primary | $ 579 | 81.4% |
| Product and Service Other | $ 6 | 0.8% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
Description of Liberty Media
Liberty Media Corporation operates primarily in the motorsport and live entertainment industries through its subsidiaries, with global events and operations mainly based in the United Kingdom and Spain. Its key subsidiaries include Delta Topco Limited, the parent company of Formula 1, and MotoGP. Previously, Liberty Media held subsidiaries such as Braves Holdings, LLC, Sirius XM Holdings Inc., and QuintEvents, LLC, which were separated into independent publicly traded companies through split-offs completed between 2023 and 2025. The company reclassified its common stock into three tracking stocks corresponding to Liberty SiriusXM, Liberty Formula One, and Liberty Live groups.
Formula 1 holds exclusive commercial rights to the FIA Formula One World Championship, an annual global motor race competition established in 1950, where teams compete for Constructors’ and Drivers’ Championships. In 2025, Formula 1 hosted 24 events across 21 countries, attracting hundreds of millions of television viewers worldwide and live audiences exceeding 450,000 at major events. Formula 1 manages commercial exploitation, coordination with the FIA, teams, race promoters, media, advertisers, and sponsors, as well as technical support, international television production, and logistics for the championship and teams' equipment.
The registrant's reportable operating segments include Formula 1, MotoGP, and Corporate and Other. Formula 1 is a principal segment contributing significant revenue and operating income. MotoGP, acquired in July 2025, contributed to revenue and operating income beginning in 2025. The Corporate and Other segment comprises assets or businesses not qualifying as separate reportable segments. QuintEvents was a subsidiary until the Liberty Live Split-Off on December 15, 2025, and is not classified as a discontinued operation. The company's investment in Live Nation and related items are presented as discontinued operations. For the year ended December 31, 2025, consolidated revenue totaled $4,482 million, with Formula 1 generating $3,873 million, MotoGP $325 million, and Corporate and Other $414 million (net of eliminations). Consolidated operating income was $577 million, including $632 million from Formula 1, $38 million from MotoGP, and a $93 million loss from Corporate and Other. Adjusted OIBDA was $1,068 million consolidated, with $946 million from Formula 1, $117 million from MotoGP, and $5 million from Corporate and Other.