In what might be described as ‘the holy grail’ of the modern F1 fan, Liberty Media looks set to launch the much sought after streaming service for F1.
Having recently bought a controlling stake of 19.1% in F1, CEO Greg Maffei of Liberty Media told analysts today in a quarterly earnings call that a streaming service “makes a lot of sense for them and us.”. There are “things to be worked through I don’t think it’s insurmountable” when quizzed about the seemingly impossible amount of TV rights deals the new F1 owners would have to wade through.
Liberty Media already own the Atlanta Braves, and Greg Maffei thinks that baseball is “much more complicated” when it comes to sifting through different deals held by the teams and Baseball’s governing body. It’s generally considered that Baseball is “the most advanced in terms of getting an over-the-top product.”.
Another company of which Liberty owns a controlling stake is Live Nation, a live entertainment company. It’s probably that they’re to be used as an already proven method of ticket distribution that “can be helpful to Formula One” through its Ticketmaster subsidiary. Extra’s would include helping set up venues, and stage concerts around F1 race weekends.
Maffei thinks the new stream service unlikely to replace traditional methods of the sports consumption straight away. He admits that “we don’t yet see wholesale substitution” for traditional pay TV yet but the probability is that eager fans across the globe will lap up such a service despite the likelihood it’ll start as a US only idea.