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Business News/ Companies / News/  FanCode eyes more users on exclusive F1 deal
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FanCode eyes more users on exclusive F1 deal

FanCode will exclusively broadcast and promote Formula 1 in India, targeting to expand its 100 million user base.

Yannick Colaco, co-founder, FanCode.Premium
Yannick Colaco, co-founder, FanCode.

NEW DELHI:FanCode, an over-the-top (OTT) Indian sports streaming platform, is set to expand its substantial 100 million user base, leveraging its exclusive partnership with Formula 1 for broadcasting rights in the Indian market for the 2024 and 2025 seasons. Additionally, Formula 1 (F1) will not be available for streaming on any linear platforms during the two seasons, Yannick Colaco, co-founder of FanCode, and Michaella Snoeck, head of media rights at Formula 1, said in a joint interaction with Mint.

Colaco emphasized the platform's strategy to engage viewers beyond the main races, including programming such as interviews with India's F2 driver Kush Maini. "(W)e are confident that throughout this partnership, we will be able to expand our 100 million user base significantly," Colaco said.

FanCode plans to offer comprehensive coverage of the F1 season, including all practice and qualifying sessions, F1 Sprint events, and the Grands Prix. The platform will provide fans in India the flexibility to choose their viewing preferences, offering both individual race passes and a season pass for all 24 races.

Snoeck, while highlighting the exclusive engagement with FanCode, noted that the partnership will cover F1 as well as other sports properties like F2, F3, and the F1 academy. FanCode is also set to produce unique programming around race weekends to promote the sport in India, she added.

Additionally, F1 races will continue to be available on its digital platform, F1 TV, albeit at a significantly higher price point. The financial details of the streaming rights acquisition were not disclosed, but FanCode has announced affordable viewing options: a race pass for 49 and a season pass for 899, which will be available for 599 after an inaugural discount.

In contrast, F1 TV offered its service through two subscription plans: F1 TV Access at approximately 1,657 for one year and F1 TV Pro at roughly 2,487 for the same period.

“I think we will be able to provide the largest distribution through TV and digital for Formula One and all the Formula Two and three, along with the F1 Academy through this period," Cocalo added. 

With 60 million fans in India, F1 aims to significantly increase its fan base in the country through this strategic partnership with FanCode.

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ABOUT THE AUTHOR
Naman Suri
Naman is a skilled business journalist who excels in breaking down complex financial details. He specializes in the corporate sector, providing thorough coverage of the pharmaceutical industry, the dynamic field of sports business, and the fascinating area of white-collar crime. Naman has a knack for making sense of numbers and presenting them in an understandable way.
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Published: 14 Mar 2024, 07:50 PM IST
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