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Formula One ‘considering OTT platform’

The boss of Formula One has revealed the company is considering launching its own OTT platform.

In an interview with Autosport, Chase Carey, chief executive and chairman of Formula One, said the company is planning to develop its own streaming platform.

Carey said OTT has a “tremendously important opportunity” and highlighted the need for the sport to better utilise digital platforms.

“We were really a non-player in the digital platforms, so whether it’s free, pay or digital, we want to make sure we’re engaging with them all,” said Carey.

“We’re actually ideally suited [to a digital service], because we have a wealth of data and information, and such great history, so we have the ability to create unique packages.”

He said the service would cater to dedicated fans looking for a deeper insight into the sport and the on-track action as a means of making the offering attractive enough to convince fans to pay for the service.

“Creating a subscription package for the strongest F1 fans is a tremendously important opportunity,” said Carney.

In the interview, he also revealed that future deals with TV networks will be shorter so they can be reviewed on a more regular basis to allow for greater flexibility around exploit all of its rights.