The partnership will see Paramount+ content displayed across F1 signage.
Paramount+ is a US-based subscription service, which provides live and on-demand programming from channels such as CBS. Recently there was a successful short-term partnership in Silverstone. Here, Paramount+ displayed signage over the pitwall to promote its streaming service to a worldwide audience. Plus, Paramount has increased broadcasting across its networks. Now, Paramount+ and Formula 1 have announced a strategic partnership.
[adrotate banner=”3″]
Get 10% off all official F1 Merch at TheRaceWorks.com using code ‘EF1‘ at checkout.
In a new partnership, Paramount+ will bring its most popular content to life across F1 race weekends. For Paramount+, this is an opportunity to target a wider audience across Europe, Asia and South America. For Formula 1, this represents their commitment to increase opportunities for fan engagement. Paramount+ streams well-loved content to varied audiences, so this partnership could build trust for both, and increase the reach of the sport even wider than in recent years.
Brandon Snow, who is the Managing Director of Commercial at Formula 1 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.”
Brandon Snow
Marco Nobili, Executive Vice President and International General Manager Paramount+, added:
“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. Through this global deal the worlds of motorsport and entertainment will come together, resulting in powerful storytelling opportunities on and off the grid.”
Marco Nobili
Sponsorship is vital for the success of Formula 1, which is the most expensive sport in the world. Brands gain a great deal from leveraging fans emotional connection to the sport to market their products. Liberty Media has changed the face of Formula 1 since its purchase of the group in 2016. This is, in part, due to Netflix’s Drive to Survive series. It is unknown if the Paramount+ partnership will affect this relationship, but it seems that the new deal is simply a sponsorship deal.
For many, Paramount+ and Formula 1 announcing this strategic partnership may seem like just adding to an already long list of sponsors. There is the constant question of how the integrity of the sport is being affected by these numerous partnerships, but there is no doubt these deals are here to stay.
[adrotate banner=”3″]
Get 10% off all official F1 Merch at TheRaceWorks.com using code ‘EF1‘ at checkout.