Formula One is focusing on developing its own OTT broadcast model in a move that will lead to a change in the way rights agreements are negotiated for the motor-racing world championship, according to the series’ chairman, Chase Carey.
According to the Autosport website, Carey said that OTT represents a “tremendously important opportunity.”
He added: “It's going to vary market by market, it's clearly not going to be one size fits all. 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.”
Carey said that details over the exact offering and the pricing for such a service have yet to be defined.
“You expect to gravitate towards the pay platform over time, but we want to find the right agreements to marry that with some free over-the-air (broadcasting) – that is something we clearly value,” he added.
The report said that the OTT focus would likely lead to shorter agreements with broadcasters than before.
"In two to three years we have well over half of the TV agreements coming into some form of renewal – we're carving out the flexibility,” Carey added. “As we go forward the agreements will be structured to make sure we can exploit all our rights.”