Formula 1 will introduce a “premium” version of its official streaming service F1 TV, offering new features to viewers for the first time.
The new offering will feature 4K footage, new feed options and allows viewers to watch on up to six different devices.
The premium tier is expected to sit alongside the existing packages: F1 TV Pro, which offers live streams of track action, and F1 TV Access, which does not. No price has been announced for the new premium service. F1 TV Pro, which was available in 92 territories last year, was priced at $84.99 (£67) annually in the USA.
F1 CEO Stefano Domenicali revealed their plans for the new tier last week, after confirming F1 TV subscriptions rose by 15% in 2024. “Capitalising on this success, we are launching a new higher-priced premium tier this year to target avid fans,” he said.
“It will offer enhanced functionality, including 4K ultra-high definition, multi-view, a virtual pit wall, and the ability to watch across up to six devices.”
F1 expects to see further growth in subscriptions this year and increased revenue as a result of the new premium tier. The USA remains the largest market for F1 TV, but FOM is also in negotiations with traditional broadcasters, as its current deal with ESPN will expire at the end of this year.
ESPN did not agree terms before its exclusive negotiation period with FOM expired. But amid speculation F1 could reach a deal with Netflix, Domenicali confirmed FOM are still in discussions with ESPN.
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“With regard to ESPN and Formula 1, let me say that I can deny the sort of situation that is negative because, first of all, we need to be thankful for what ESPN is providing to us,” he said. “We are very happy about the quality of the service. We need to always remember that they were first to believe in our project.
“So therefore, the fact that at the end of the exclusivity period, they have not put in place a formal offer, it doesn’t mean that the discussions are [not] going ahead. Actually, it’s the other way around. So there are still a lot of discussions to try to find the best solution.
“Of course, now, as we always said, is the month where other players are around the table. And we cannot deny the fact that there is a lot of interest around our product. We are fortunate enough to have compelling content and a growing fan base and a strong demand for different situations from various parties.
“As we always said, there is the big point related to the fact that, from one side, we always want to maximise the monetisation of our media rights, but on the other side, we need to make sure that also, in terms of awareness, in terms of growth of our fan base, we need to try to find the best way in terms of reach. Therefore, these are the two questions, the two points that are on the table. We have a lot of players that we are discussing with.”
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