Formula One has once again pushed back the start of a new television streaming service which it had hoped to launch in Australia last weekend, but will now have to wait at least until the third round of the 2018 Formula One season, the Chinese Grand Prix, which is scheduled to take place just one week after the race in Bahrain.
The product was announced during testing in Barcelona two months ago, with Formula One saying fans would be able to watch races in a different way, including from their favorite driver’s perspective. F1 TV will give access to cameras mounted on the cars of the 20 drivers as well as the traditional broadcast feed, with viewers able to split the screens of their mobile device or smart TV. That would allow viewers to watch the action from two cars as their drivers battled for position.
Formula One, controlled by U.S.-based Liberty Media since January last year, had planned to offer the service initially in some 43 countries with new or renegotiated television deals. Monthly charges for the premium version will be in a range from $8-$12, with an annual deal around $100, with prices varying by market. Frank Arthofer, Formula One’s head of digital, told reporters earlier last month that the revenue possibilities were significant with an estimated 500 million Formula One fans worldwide: “If even conservatively one percent of that customer base is a super-avid hard-core fan, that’s a five million addressable audience to sell this product to, who would be potentially willing to pay the incremental fee.” – he explained.
It means that F1 can have a direct relationship with its fans and once developed it can upsell the product, giving Ferrari fans access to more exclusive Ferrari content, for example. However, Formula One fans will have to wait at least one more week until the new television streaming service will be available, meaning that for many there will be limited possibilities to watch the 2018 Bahrain Grand Prix.
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