The international sports OTT platform, DAZN has acquired the exclusive broadcasting rights of Formula 1 in Spain.
As per the pact, the OTT service will be seen broadcasting all the events of F1, including practice and qualifying sessions, F1 sprint events, and grand prix.
Telecom company Telefonica, which presently owns the rights to Formula One in Spain, handed over those rights to DAZN in a deal that is expected to be worth €65 million ($70.97 million) per year.
Shay Segev, Chief Executive Officer, DAZN Group, said, “This is yet another example of a leading global rights holder choosing to extend their partnership with DAZN. Formula 1 is an international sporting phenomenon, and hugely popular in Spain. The fact that DAZN’s subscribers are guaranteed exclusive access to this fantastic competition until 2026, alongside all the other great content we showcase on the platform in Spain, is excellent news. It proves DAZN’s offer – both for fans and rights holders – is the right blend of accessibility, innovation, and value.”
Bosco Aranguren, Managing Director at DAZN Spain, stated, “We are delighted to announce this important and strategic agreement for DAZN in Spain. Having the endorsement of top-tier partners such as Formula 1 strengthens our position in the market and helps us to continue building the destination of choice for all sports fans in our country.”
He also added, “The data shows that audiences and engagement with our premium multisport offering continue to grow and that encourages us to keep on working to deliver the best experience, with everything sports fans are looking for integrated into a single platform. For this reason, DAZN is also the perfect partner for sports rights holders, and we look forward to working with our partners to expand or renew our distribution agreements.”
Ian Holmes, Director of Media Rights and Content, commented, “We are pleased to announce DAZN will continue to broadcast F1 for years to come. Their use of technology has enhanced the fan viewing experience and taken F1 coverage in Spain to another level. This is an exciting partnership that will only continue to grow from strength to strength. We look forward to expanding our relationship and taking a collective approach to further evolve our broadcast for fans in Spain and build on the positive momentum we are seeing in market.”
The DAZN Group, primarily owned by Access Industries, operates the international over-the-top sports streaming service DAZN. The DAZN Group launched its activities in 2016 under the ownership of Perform Group.