ESPN on pace for record F1 viewership in likely final year<\/a><\/p>\n\u201cWe are a healthy property, and I think a sought-after property as we have these discussions around the world,\u201d Chang said. \u201cWe announced that we\u2019re doing something with Globo, being back on Globo in Brazil next year. We announced earlier this year that we had renewed our rights in Canada. I think we\u2019ve got discussions ongoing in several of the major markets that we will have clarity to here relatively soon.<\/p>\n
\u201cMuch like the U.S., I think this is a holistic sort of view of traditionally what\u2019s been known as your media partner, but I don\u2019t know if it\u2019s necessarily a media partner per se in a classic sense of someone who\u2019s just broadcasting your race. It is someone who can help fans access your content beyond the race.<\/p>\n
\u201cIt is someone who can help your fans interact with even your sponsors. It\u2019s all of that. I think the guys that are looking forward and sort of view that as part of their own playbook and what we can do to enhance that for them are ones that we want to try to do business with.<\/p>\n
\u201cIt\u2019s not a perfect world and timing is never perfect either. You have to sometimes deal with the practical implications of what\u2019s available and how to make that partner and what\u2019s available work for you. These discussions globally seem like they are very healthy. I think Stefano [Domenicali, F1 CEO] and his team are doing a great job. I think we\u2019ll continue to see the right partners line up with Formula 1.\u201d<\/p>\n
Chang says the sport\u2019s media rights situation is not the only area that F1 is in a strong position, praising the work done on the sponsorship side, too.<\/p>\n
\u201cThere\u2019s always an investor narrative that there\u2019s a finite period at which something\u2019s going to end, right? Understandably, as people do their risk assessments and all that sort of stuff,” he said. “I think that on the sponsor side, this has been an incredible year. Stefano and Emily [Prazer, F1 chief commercial officer] and their teams have done a fantastic job on multiple fronts.<\/p>\n
\u201cOne is the continuation of just bringing in new sponsors. Vegas has been a big part of that, and I think it\u2019s been very helpful to that story and to that narrative. I think as we are filling a lot of categories, there are still several that can be filled. I think there\u2019s growth opportunity in terms of existing renewals that are going to happen here over the next several years.<\/p>\n
\u201cI think you can see the demand is there \u2013 the inventory is kind of tightened in some ways. What you will hopefully see is, even if the names don\u2019t change, it is actually a good thing because having long-term partners who continually have associated with you and continue to invest in that brand association is extraordinarily powerful.<\/p>\n
\u201cI think what you\u2019ll see is hopefully people coming in at different tiers where you drive demand and drive pricing, and that in itself will help the monetization, beyond the continued investment in that brand affiliation that these guys make.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Formula 1 is in a healthy position from a media rights point of view but is looking at…\n","protected":false},"author":2,"featured_media":130206,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[1687,372,6537,101,56,54,55],"class_list":["post-130205","post","type-post","status-publish","format-standard","has-post-thumbnail","category-f1","tag-f1","tag-formula-1","tag-formula1","tag-sports","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/130205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=130205"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/130205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/130206"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=130205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=130205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=130205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}