No more big cheques of F1 TV need to be pulled now as Formula 1 has signed a multiyear deal for a strong '60 million' fanbase in India. The new season of F1 begins in Bahrain with the opener being a Saturday race instead of traditional Sunday.
Formula 1 has signed a two-year deal with FanCode for the years 2024 and 2025 and will broadcast as well as stream the races on the OTT platform. The announcement comes just two days before the main race on Saturday.
"There is a growing appetite for Formula 1 in India, particularly amongst younger and female supporters. Nearly 60 million fans follow the sport and 1 in 2 started following F1 in the last four years," F1 said in a statement.
"This partnership allows Formula 1 to tap into a rapidly emerging fanbase and invites FanCode's audience of nearly 100 million passionate sports fans into the world of F1. The agreement grants FanCode exclusive rights to broadcast all F1 race weekends, including all practice and qualifying sessions, F1 Sprint events and Grands Prix," the statement added.
Notably, the Director of Media Rights and Content Creation at Formula 1 - Ian Holmes sounded confident that the streaming platform will help them cater their audiences. "We have found a strong broadcast partner in them with expert knowledge on how we can best serve our 60 million existing fans and reach new audiences in India. Together, we will take our combined expertise to produce premium content that showcases the sporting spectacle that is F1," he said.
F1 was available on Television until 2022 but in 2023 it failed to pen a contract with Star Sports in 2023. It had F1 TV Pro for the Indian viewers to watch the complete race. The cost of the F1 TV Pro was Rs 2499 annually which is Rs 299 per month. Notably the FanCode subscription for the complete season of F1 2024 costs Rs 599 for all 24 races. Notably for one race, you will have to pay Rs 49 per race.
What all F1 events can be watched on FanCode?
The FanCode model offers a chance to catch a complete F1 race weekend. A viewer can watch the practice and qualifying sessions. It allows the viewer to watch Sprint races and also the main races.
