Amazon and F1 in talks

Amazon’s sporting ambitions continue to grow as the e-commerce giant is revealed to be one of several global digital platforms in talks with motorsports brand Formula One.

The context

• Amazon has already bagged some big sports deals, including with the NFL in the US and some games in the English Premier League. It recently streamed rugby’s Autumn Nations Cup, and it is looking to screen major cricket matches in India.
• Amazon is unlikely to match existing broadcast TV deals and F1 CEO Chase Carey admits that switching to screening deals with online groups will be an “incremental” process to avoid upsetting existing TV fans.
• Formula One is looking to appeal to younger fans and fans outside of its core markets, becoming involved in e-sports (where Amazon-owned Twitch is a major platform) and working with Netflix to produce a documentary series bringing the passion and politics of the sport to a global audience.

Key quote

“They’re [an] incredibly important potential partner and an opportunity for us to expand and grow our business” – Chase Carey, CEO, Formula One.

Sourced from Financial Times