Formula One has signed a multi-year deal with Chinese streaming platform Tencent.
Confirmed:
- Contract runs until the end of the 2024 season
- All sessions to be streamed across its digital platforms Tencent Sports, Tencent Video, Tencent News and QQ
- Agreement complements CCTV’s existing rights deal
Context: Tencent was previously Formula One’s streaming partner between 2018 and 2021 but, after allowing its rights to expire, China Telecom stepped in to acquire streaming rights for the 2022 season. Tencent's digital distribution channels now add to the existing linear broadcast deal signed with state-owned CCTV, while the series is also shown locally in Shanghai and Guangdong through Five Star Sports and Guangdong Sports, respectively.
Comment: Ian Holmes, director of media rights and content creation at Formula One, said: “Tencent’s extensive digital portfolio is complementary to our existing broadcast offering in the market, providing us with an excellent platform to connect with our passionate and growing fan base in China. With the 2023 season officially underway, we look forward to working closely with Tencent to bring the drama and excitement of F1 to our fans in China.”
Coming next: The new contract covers the 2024 season, which should see the return of the Chinese Grand Prix. The Shanghai International Circuit has not hosted Formula One since 2019 due to the Covid pandemic.