Formula 1 is in a healthy position from the point of view of media rights, but looks at partnerships that go beyond the simple broadcasting of races, according to Liberty Media CEO Derek Chang.
The television rights in the United States are at the end of this year for innovation and sources indicate that Apple is in a strong position to take over the previous broadcaster ESPN. Chang spoke earlier this week at the Goldman Sachs Communcacopia & Technology Conference and says that the direction that the US could use is also something that is viewed worldwide because F1 tries to involve his fan base in the racing cover.
- ESPN on pace for record F1 viewers in probably the last year
“We are a healthy property and I think a sought -after property if we have these discussions around the world,” Chang said. “We have announced that we do something with Globo, back on Globo in Brazil next year. We announced earlier this year that we had renewed our rights in Canada. I think we have discussions in various of the most important markets that we will have relatively quickly for this.
“Just like the US, I think this is a holistic kind of image of traditional what is known if your media partner, but I don’t know if it is a media partner in itself in a classic feeling of someone who just broadcasts your race. It is someone who can help fans access to your content outside the race.
“It is someone who can help your fans to even communicate your sponsors. It’s all.
“It is not a perfect world and timing is never perfect either. You sometimes have to deal with the practical implications of what is available and how you can make that partner and what is available to you. These discussions seem very healthy worldwide. I think Stefano [Domenicali, F1 CEO] And his team is doing great. I think we will continue to see the right partners standing in line with Formula 1. “
Chang says that the situation of the media rights of the sport is not the only area that F1 is in a strong position and also praises the work on the sponsor side.
“There is always an investor story that there is a finite period in which something will end, anyway? Understandable, as people make their risk reviews and all things like that,” he said. “I think this has been an incredible year on the sponsor side. Stefano and Emily [Prazer, F1 chief commercial officer] And their teams have done fantastic work on several fronts.
“One is the continuation of just bringing in new sponsors. Vegas has been a large part of that, and I think it has been very useful for that story and for that story. I think that because we fill many categories, there are more that can be filled.
“I think you can see that the question is the inventory is a bit tightened in some ways. What you will hopefully see is, even if the names are not changing, it is actually a good thing because having long-term partners who are constantly associated with you and keep investing in that brand association is extremely powerful.
“I think what you will see, hopefully people who arrive at different levels where you encourage the question and encourage prices, and that in itself will help the income, outside the continuous investment in that brand relationship that these guys make.”
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