Paramount+ seals new global partnership deal with Formula 1
Streaming service Paramount+ has partnered with Formula 1 globally for the 2023-24 season, with promotional spots across races around the world, including the Melbourne Grand Prix.
The partnership will see series and movies on Paramount+ made available in Fan Zone areas and celebrities making real-life appearances.
During practice ahead of the F1 Grand Prix of Australia at Albert Park Grand Prix Circuit on March 31, 2023 in Melbourne, Australia
Additionally, the partnership includes Paramount+ branding on track and physical trackside signage, digital sponsorships and promotional opportunities, which started in Melbourne, and will be followed by activity in Miami, Montréal, Austria, Silverstone, Monza, Suzuka, Austin, Mexico City, São Paulo and Las Vegas.
Commenting on the partnership, EVP and international general manager of Paramount+, Marco Nobili, said: “Paramount+ continues to seek new, innovative ways to reach our global audiences, and I am confident this partnership with Formula 1 will continue to support our growth globally.
“Becoming an official partner of Formula 1 means bringing the Paramount+ brand and all our characters to life for hundreds of millions of fans worldwide.”
Managing director of commercial at Formula 1, Brandon Snow, said: “This partnership exemplifies Formula 1’s ongoing commitment to exploring new avenues to help promote the sport and appeal to new audiences.
“Paramount+ and the content on its platform are hugely popular and like F1 has experienced rapid growth in recent years. Together, we will use our global platforms and collective expertise in entertainment to further enhance the fan experience and take both Formula 1 and Paramount+ to new levels.”
Paramount+ and Formula 1 had a short-term partnership in 2022.
The parent company of Paramount+, Paramount, also owns Network Ten in Australia, which holds the exclusive free-to-air broadcast rights to the Australian Grand Prix, while pay TV provider Foxtel and its streaming service Kayo have all races on livestream and playback.
Foxtel snapped up the rights to all but one Formula 1 race from Ten in 2017 and renewed its deal in 2022. The current arrangement with both is set to expire in 2026.
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