Liberty Media Corporation Reports Fourth Quarter and Year End 2023 Financial Results

Liberty Media Corporation has shared the following press release 

Liberty Media Corporation Reports Fourth Quarter and Year End 2023 Financial Results

Liberty Media Corporation - today reported fourth quarter and year-end 2023 results.

Headlines include :

Attributed to Liberty SiriusXM Group

• SiriusXM reported fourth quarter and full year 2023 operating and financial results
• 2023 full-year revenue of $8.95 billion
• Full-year net income of $1.26 billion and diluted EPS of $0.32
• Full year adjusted EBITDA of $2.79 billion
• Full year free cash flow of $1.20 billion
• SiriusXM announced 2024 financial guidance
• Expect to complete the planned combination of Liberty SiriusXM Group and SiriusXM in the early third quarter of 2024
• Reduced Liberty SiriusXM Group debt by $279 million in the fourth quarter and $782 million in the full year
• Liberty Media’s ownership of SiriusXM was 83.4% as of January 30, 2024

Attributed to Formula One Group

• 2023 F1 fan attendance of 6 million, up 5% compared to 2022
• 1.5 billion cumulative TV viewers and 70.5 million social media followers in 2023
• Inaugural Las Vegas Grand Prix generated over 16 billion global social media impressions during race week
• F1 announced multiple race promotion deals, including a new multi-year agreement to race in Madrid from 2026 and renewals of British, Japanese and Brazilian Grands Prix
• Closed Quint acquisition on January 3, 2024

“Liberty had a productive 2023. We split-off the Atlanta Braves, created the Liberty Live Group tracking stock and announced the combination of Liberty SiriusXM Group with SiriusXM,” said Greg Maffei, Liberty Media President and CEO. “Formula 1 had another fantastic year with double digit growth across all revenue streams. The Las Vegas Grand Prix generated massive global buzz, and we look forward to delivering great racing, fan experiences and economic benefit to F1 and the local community for years to come. SiriusXM progressed a number of strategic achievements, launching its next generation app and investing in marquee talent while managing its cost structure. Live Nation is capitalizing on the globalization of the music industry, with 2024 already poised to surpass a record 2023.”

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