Foxtel Extends Formula 1 Rights
Foxtel has extended its rights deal with Formula 1, in a three-year deal believed to be in the range of $45 million a year.
The deal gives Foxtel and Kayo the live broadcast rights to every race, qualifier, and practice.
“There’s no doubt Formula One’s one of the biggest sports in the world. And it’s growing fast, especially for us,” explains Foxtel Group chief executive Patrick Delany.
“Across our 2.4 million sports subscribers. It’s up 31 per cent year-on-year. It’s surfacing a new era of champions, rivalries and drama on and off the track.”
Interestingly, Netflix’s behind the scenes doco series Formula 1: Drive To Survive has bolstered Foxtel’s viewers.
“We’re seeing a direct audience impact on subscribers and growth season on season. Kayo Sport is up 87 per cent With the Formula 1 year-on-year.”
In addition the F1TV app will be integrated into the iQ boxes, free-of-charge to all Foxtel subscribers, and will offer documentaries, short-form features, analysis, and an archive of past races.
Foxtel also owns the broadcasting rights to NASCAR, Supercars, MotoGP, and WorldSBK.
“96 per cent of all motorsport fans in Australia either follow Formula One, supercars or Moto GP, and they’re all sports broadcast by the Foxtel group,” said Delany.
“Our strategy is very clear. We are aiming at that top tier of sports that we know all of our sports fans on Fox Sports through Foxtel and Kayo love.
“The data we get through Kayo makes it very clear which ones are growing, which ones are not. The financial health of the group is such that we’ve got plenty of firepower.”
With a massive 1,100 days between Formula 1 races, there is likely to be a huge appetite for the upcoming season.