15 March, 2021
With the updated launch of F1 TV in 85 counties for the 2021 season recently announced the bidding war for Formula 1 content begins to take shape.
Liberty Media’s long-term strategy is F1 TV which it hopes will provide a cash cow and justify its investment in F1.
Liberty became involved in F1 not because it was passionate about motor racing but because it could envisage unlocking the potential broadcast revenues.
At least six of the existing contracts are due to expire by the end of the 2022 season and crucially F1’s deals with Sky TV end in 2024.
As reported by RaceFans.net Sky’s hosting fees for the UK amount to a staggering $1.53 billion for 2019-2024. If you add in Sky Germany and Italy at $100m it’s clear to see that with 30% of its TV income at the mercy of Sky, there needs to be a plan B.
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