Formula One Sees Q1 Revenue of $590M (+46%) and OIBDA Jump to $147M
UBS forecasts Formula One will post first-quarter revenue of $590 million (+46% year-on-year) and OIBDA of $147 million (+74%), driven by an extra race and sponsorship gains. It sees full-year 2026 revenue of $4.04 billion (+4%) and $1.03 billion OIBDA, rising to $4.48 billion (+11%) and $1.16 billion OIBDA in 2027.
1. First-Quarter Forecast and Drivers
Analysts project Q1 2026 revenue at $590 million, up 46% year-on-year, and OIBDA of $147 million, a 74% increase. Growth benefits include one additional race compared to last year and sustained sponsorship sales.
2. Full-Year Revenue and OIBDA Projections
Full-year 2026 revenue is set at $4.04 billion (+4%) with OIBDA of $1.03 billion, rising in 2027 to $4.48 billion (+11%) and OIBDA of $1.16 billion. Margin improvements are driven by team payment structure changes under the new Concorde Agreement.
3. Sponsorship Momentum and Calendar Risks
Sponsorship revenue rose 32% in 2025 and is forecast to grow 8% in 2026 and 11% in 2027, supported by new partner deals. Calendar shifts affecting Middle East events could pressure race promotion and hospitality income, while media rights remain underpinned by minimum guarantees.
4. Las Vegas Grand Prix Demand
Priority access pricing and deposit levels for the Las Vegas Grand Prix align with last year’s, indicating steady U.S. fan demand despite broader consumer spending uncertainties.