Business News/ Sports / Sports News/  Formula 1 racing launches first subscription platform in India

Formula 1 racing has launched its first digital platform, F1 TV Pro in India ahead of the 2023 FIA Formula 1 World Championship. The platform will broadcast all race weekends, including practice and qualifying sessions, F1 Sprint events and Grand Prix and will be accessible to its fans via a subscription.  The company, in a statement said, there will be all 20 driver-onboard cameras and team radio channels, as well as pre- and post-race analysis and a content library containing footage of the sport’s iconic moments.  Starting with the Formula 1 Gulf Air Bahrain Grand Prix in March which will have a 23-race schedule across five continents, including the Formula 1 Singapore Airlines Singapore Grand Prix and the inaugural Formula 1 Heineken Silver Las Vegas Grand Prix. In India, people will also be able to tune-in to the Porsche Supercup series and FIA Formula 2 and 3 sessions and races and can follow the progress of Formula 2 drivers Jehan Daruvala and Kush Maini as they vie for the F2 crown and look to make the step up to Formula 1.  Ian Holmes, director of media rights and content creation at Formula 1 said: “We are delighted to launch this for our fans in India. With its growing global footprint, it is vital that our fans all around the world can watch and enjoy the drama and excitement of the race. With access to live race footage, expert commentary, onboard camera and team radios, this will provide fans with a best-in-class service to follow the upcoming Formula 1 season."

Formula 1 is a subsidiary of Liberty Media Corporation and the annual racing series began in 1950. Formula One World Championship Limited is part of Formula 1 and holds the exclusive commercial rights to the FIA Formula One World Championship.

According to one report, subscription-led video-on-demand platforms (SVoD) will account for anywhere between 55 and 60% of the entire OTT revenue in India by 2030. This segment will reach a revenue of $11,000-13,000 million over the next decade, said the report by Confederation of Indian Industry and Boston Consulting Group titled ‘Shaping the Future of Indian M&E’.

Varuni Khosla
Varuni Khosla is a journalist with close to 14 years of experience in writing business news stories for mainstream newspaper companies like Mint and The Economic Times. She reports and writes on luxury and lifestyle brands, hospitality and tourism news, the business of sports, the business of advertising and marketing and alcohol brands.
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Updated: 21 Feb 2023, 05:04 PM IST
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