02:28 PM EDT, 04/04/2025 (MT Newswires) -- Liberty Formula One's (FWONK) revenue model, built on long-term contracts and predictable income streams, is expected to remain resilient despite broader macroeconomic challenges, UBS Securities said in a Q1 earnings preview on Friday.

UBS expects 10% growth in primary revenue in 2025, driven by normalized Las Vegas Grand Prix comparisons and a surge in sponsorship revenue stemming from upgraded deals with existing partners and an expanded sponsor base.

The investment firm said it expects a competitive bidding process for Formula One's rights due to its year-round global schedule, young audience demographics and relatively low cost per viewer hour.

Q1 primary revenue for Formula One is forecast to decline by 27% to $337 million while total company revenue is expected to fall 23% to $450 million due to a less favorable race calendar compared with the prior-year period, according to UBS.

The firm has a neutral rating on the stock and raised its price target to $93 from $85.

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