F1 CEO: Amazon discussing streaming deal

Wednesday, 23. December 2020 08:05

Amazon.com Inc. and Formula One (F1) are holding discussions in an attempt to reach an agreement on streaming Grand Prix events on the tech giant's online platform, Formula One Group outgoing CEO Chase Carey told the Financial Times on Wednesday.

Specifically, Carey said that Amazon would be an "incredibly important potential partner and an opportunity for us to expand and grow our business."

According to the FT, approximately a third of total revenues for racing car competition comes from media rights. Notably, Formula One's biggest broadcasting contract, due to expire in 2024, was signed in 2016 with Comcast Corporation's subsidiary Sky Sports in the United Kingdom and is reportedly worth $250 million per year.

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Breaking the News / MS