Chase Carey says Formula 1’s TV options have ‘conflicting goals’

Formula 1 CEO Chase Carey says the championship's options for its television output in the future have "conflicting goals"

Chase Carey says Formula 1’s TV options have ‘conflicting goals’

F1's new owners are trying to set the foundations to do a better job of embracing digital media opportunities as well as expanding the types of deals Bernie Ecclestone did with broadcasters, that were largely focused on getting the most money possible.

Carey says Liberty Media has identified four types of broadcast option available to it, but juggling the demands of those ideas will be a challenge.

"In terms of the television arena that we deal with, I guess the way to describe it is that there are three or even four potential arenas that we are engaged with," said Carey.

"Traditional free, pay, digital, and then our own probably more direct 'over the top' product.

"To some degree what you have is conflicting goals across them.

"Probably the economic premium paid gets higher as you go up the ladder, but the reach gets less."

Carey said F1's aim is to make sure it achieves growth over a long period, rather than looking for the quickest way to improve viewing figures immediately.

"We're trying to balance what is the right mix of reach and direct economic value," he said.

"Clearly there are impacts on other partners we have - for sponsors the fan engagement is obviously very important.

"For us the goal is to maximise long-term growth, not to find a short term pop.

"If you're energising the sport we want to make sure we continue to position it for long-term growth that finds a balance between that reach [and money] as opposed to just where you can get the biggest buck?"

He also played down any suggestions of traditional TV distribution losing its relevance too quickly.

"It's more and more heading to various forms of digital platforms - I don't think it will happen as fast as some people think," he said.

"Some habits die hard, and there is a value in volume and choice.

"On the programming side there's still value in reach. It's going there [digital], but it will take time.

"There's no question that there will be a lot more ways that content will continue to be offered to consumers."

shares
comments
Formula 1 needs teams like Minardi for driver development - Steiner

Previous article

Formula 1 needs teams like Minardi for driver development - Steiner

Next article

Ericsson wants to be in more competitive F1 car 'as soon as possible'

Ericsson wants to be in more competitive F1 car 'as soon as possible'
Load comments
The ‘backwards step’ that is the right move for Formula 1 Plus

The ‘backwards step’ that is the right move for Formula 1

OPINION: With its days apparently numbered, the MGU-H looks set to be dropped from Formula 1’s future engine rules in order to entice new manufacturers in. While it may appear a change of direction, the benefits for teams and fans could make the decision a worthwhile call

The floundering fortunes of F1’s many Lotus reboots Plus

The floundering fortunes of F1’s many Lotus reboots

Team Lotus ceased to exist in 1994 - and yet various parties have been trying to resurrect the hallowed name, in increasingly unrecognisable forms, ever since. DAMIEN SMITH brings GP Racing’s history of the legendary team to an end with a look at those who sought to keep the flame alive in Formula 1

Why the 2021 title fight is far from F1's worst, despite its toxic background Plus

Why the 2021 title fight is far from F1's worst, despite its toxic background

OPINION: Formula 1 reconvenes for the Russian Grand Prix two weeks after the latest blow in ‘Max Verstappen vs Lewis Hamilton’. While the Silverstone and Monza incidents were controversial, they thankfully lacked one element that so far separates the 2021 title fight from the worst examples of ugly championship battles

Formula 1
Sep 22, 2021
How F1’s other champion to emerge from 1991 thrived at Lotus Plus

How F1’s other champion to emerge from 1991 thrived at Lotus

Mika Hakkinen became Michael Schumacher’s biggest rival in Formula 1 in the late-90s and early 2000s, having also made his F1 debut in 1991. But as MARK GALLAGHER recalls, while Schumacher wowed the world with a car that was eminently capable, Hakkinen was fighting to make his mark with a famous team in terminal decline

Formula 1
Sep 21, 2021
The forgotten F1 comeback that began Jordan’s odyssey  Plus

The forgotten F1 comeback that began Jordan’s odyssey 

Before Michael Schumacher – or anyone else – had driven the 191 (or 911 as it was initially called), Eddie Jordan turned to a fellow Irishman to test his new Formula 1 car. JOHN WATSON, a grand prix winner for Penske and McLaren, recalls his role in the birth of a legend…

Formula 1
Sep 20, 2021
The squandered potential of a 70s F1 underdog Plus

The squandered potential of a 70s F1 underdog

A podium finisher in its first outing but then never again, the BRM P201 was a classic case of an opportunity squandered by disorganisation and complacency, says STUART CODLING

Formula 1
Sep 18, 2021
The other notable Monza escape that F1 should learn from Plus

The other notable Monza escape that F1 should learn from

OPINION: The headlines were dominated by the Italian Grand Prix crash between Max Verstappen and Lewis Hamilton, who had the halo to thank for avoiding potentially serious injury. But two days earlier, Formula 1 had a lucky escape with a Monza pitlane incident that could also have had grave consequences

Formula 1
Sep 17, 2021
How Monza only added more questions to F1's sprint race conundrum Plus

How Monza only added more questions to F1's sprint race conundrum

With two sprint races under its belt, Formula 1 must now consider its options for them going forward. While they've helped deliver exciting racing on Sundays, the sprints themselves have been somewhat lacking - creating yet another conundrum for F1 to solve...

Formula 1
Sep 16, 2021