Formula 1 signs multi-year deal with Paramount+. Video streaming subscription service Paramount+ is now an official partner of Formula One, with the signing of a multi-year agreement, and will be visible from the Miami Grand Prix and other rounds this season.
Following a successful 2022 campaign, this partnership confirms a new dimension with the union of the Formula 1 world and Paramount+.
Signs for the new streaming service will now be visible throughout the 2023 season, including trackside displays. An agreement that also includes promotional content and digital sponsorships, on social media videos.
“Promoting the sport and attracting new audiences”
The Australian Grand Prix saw the first Paramount+ promotional panels but the partnership was still under discussion and the agreement was only with the local promoter.
The Miami Grand Prix, the fifth round of the calendar, is the race where Paramount+’s presence will be seen for the first time officially as an F1 sponsor, before other appearances will be seen at races in Montreal, Spielberg, Silverstone, Monza, Suzuka, Austin, Mexico City, Sao Paulo and Las Vegas.
Brandon Snow, managing director of commercial affairs for Formula 1, said:
“This partnership illustrates Formula 1’s ongoing commitment to exploring new ways to promote the sport and attract new audiences.
“Paramount+ and its platform content are extremely popular and, like F1, have grown rapidly in recent years. Together, we will use our global platforms and collective entertainment expertise to further enhance the fan experience and take Formula 1 and Paramount+ to new levels.”
f1 just casually dropped the sickest edit pic.twitter.com/OuWn0lrVet
— jen ³³ ₈ 🇿🇦 (@soy33lago) April 11, 2023
Marco Nobili, executive vice president and global managing director of Paramount+, added: “Paramount+ continues to seek new and innovative ways to reach its global audience, and I am confident that this partnership with Formula 1 will continue to support our growth on a global scale.”
“Becoming an official partner of Formula 1 means bringing the Paramount+ brand and all our characters to life for hundreds of millions of fans around the world. Through this global agreement, the worlds of motorsport and entertainment will come together, resulting in powerful storytelling opportunities on and off the grid.”