Report: Amazon Prime Video in Negotiations to Bring Formula 1 to Platform
It sounds like Amazon Prime Video is once again working on bringing live sports to their platforms. According to the Financial Times, the e-commerce giant is currently in negotiations with Formula 1 to bring select races to the service. The deal is a play from Formula 1 to try and lure in younger viewers who prefer streaming content than paying for cable.
“We are in substantive discussions [with] Amazon and all the global digital platforms,” F1 CEO Chase Carey told the Financial Times. “They’re [an] incredibly important potential partner and an opportunity for us to expand and grow our business.”
Ever since the car racing league was acquired by Liberty Media in 2016, their goal has been to bring the sport to more digital spaces. While exact numbers of deal have not been divulged seeing as the process is still ongoing, “Comcast’s Sky satellite TV distributor currently pays about $250 million annually through 2024 to broadcast F1 races,” according to Media Play News, so the deal with Amazon is sure to top those figures. If the two sides reach a deal, the sport will now be accessible to over 100 million Prime members Amazon boasts.
This will be Amazon’s latest foray into live sporting events. In November, Prime Video announced the Week 16 match up between the San Francisco 49ers and Arizona Cardinals will exclusively available to stream on Amazon Prime Video and Twitch. This is an extension of their multi-year effort with the NFL to stream Thursday Night Football games on the streaming service, but first exclusive broadcast.
Earlier this year, the streamer announced they were partnering with The New York Yankees and YES Network to live stream 21 Yankees games during the 2020 regular season on Prime Video at no additional cost to Prime members. Due to the pandemic however, those telecasts were cancelled.
In June, the streamer snagged rights to live stream four English Premier League matches for free in the UK when the season resumed. As an added bonus, the company made the games available to everyone, so fans didn’t need to be Prime Video members in order to watch.