Formula 1 has extended its agreement with Australian pay-TV company Foxtel, marking the first time F1’s streaming product has been included in a broadcast deal.
The three-year deal, which will include broadcasts of every practice, qualifying session, and race, is reportedly between $29.9 million and $33.6 million annually.
Beginning in 2023, Formula 1’s over-the-top service will be integrated into Foxtel’s set-top boxes at no extra cost for the first time, adding to the telecommunication platform’s live coverage on Fox Sports and the Kayo streaming platform.
The deal comes two weeks before the Australian Grand Prix, which has been absent from Formula 1’s calendar for the last two years due to COVID-19.
The 2019 race reached 514,000 viewers — the most-watched F1 race ever on Foxtel.
