Formula 1 recently penned a fresh deal with streaming service Paramount+ in a new multi-year deal for streaming rights of the sport.
The two entities agreed on a temporary deal in 2022 and have now expanded their relationship into a deal that extends F1’s reach into the huge and recently untapped American market.
The rights to the US races are still owned by media giant Disney’s subsidiary ESPN until the end of 2025.
Paramount already has a huge presence with sporting events in the USA, the most notable of which is the NFL, Uefa Champions League, and PGA Gold. Paramount is obviously looking to hijack the TV rights after 2026 when Disney loses them. It’s clear that they want to increase their presence in the sport of F1 either way whether they will broadcast US races or European and Middle-Eastern races.
Recent Paramount Involvement
At the Australian Grand Prix, the Kiefer Sutherland television series Rabbit Hole was heavily promoted, with logos widely displayed in the pitlane and elsewhere.
F1 states that the new deal is geared towards fan engagement and will see “the streamer’s popular content offering come to life at F1 events, with Paramount+ hit series, blockbuster movies, and beloved characters taking centre stage inside Fan Zone areas, bringing together stars from the track and the big screen.”
Signage and “digital sponsorships and promotional opportunities” will be implemented at all six races on the American continent, including Miami, Austin, Las Vegas, Montréal, Mexico City, and Sao Paulo, as well as at Silverstone, Spielberg, and Monza in Europe.
This list includes every country hosting a race where Paramount+ is available as a standalone streaming service.
“This partnership exemplifies F1’s ongoing dedication to investigating new avenues to promote the sport and appeal to new audiences,” said F1’s managing director of commercial, Brandon Snow.
“Paramount+ and the content on its platform are hugely popular and, like F1, has experienced rapid growth in recent years.
“Together, we will use our global platforms and collective expertise in entertainment to further enhance the fan experience and take both F1 and Paramount+ to new levels.”
Marco Nobili, executive vice president and international general manager of Paramount+, stated that his company “continues to pursue new and innovative ways to reach our global audiences, and I am confident that this partnership with F1 will continue to support our global expansion.”
“Becoming an official partner of F1 involves bringing the Paramount+ brand and all of our characters to life for hundreds of millions of fans around the globe.
“Through this global agreement, the realms of motorsport and entertainment will collide, resulting in compelling opportunities for storytelling on and off the grid.”