The pinnacle of car racing events in the world, Formula 1 has inked a new multi-year promotional agreement with Paramount+. Following this new deal, the brand will serve as the official partner of the competition.
Owned by Paramount Global, Paramount+ is a paid-on-demand video service available in the United States. The service’s material is mainly taken from the Paramount Media Networks, CBS Media Ventures, and Paramount Pictures collections, but it also includes original television shows and movies, live sports coverage, and, in the United States, local CBS broadcast stations in real-time.
According to the agreement, the streamer’s bestselling offering will be brought to life at F1 events across the globe, with Paramount+ hit series, blockbuster movies, and popular characters taking centre stage inside Fan Zone areas. This follows from an effective sports and entertainment partnership between the two brands last season.
Along with actual trackside signage and branding for Paramount+, the agreement will also include digital sponsorships and promotional options in Mexico City, Sao Paulo, Austin, Miami, Montreal, Spielberg, Silverstone, Monza, Suzuka, and Las Vegas.
Brandon Snow, Managing Director of Commercial at Formula 1, commented, “This partnership exemplifies Formula 1’s ongoing commitment to exploring new avenues to help promote the sport and appeal to new audiences. Paramount+ and the content on its platform are hugely popular and like F1 has experienced rapid growth in recent years. Together, we will use our global platforms and collective expertise in entertainment to further enhance the fan experience and take both Formula 1 and Paramount+ to new levels.”
Marco Nobili, Executive Vice President and International General Manager at Paramount+, said, “Paramount+ continues to seek new, innovative ways to reach our global audiences, and I am confident this partnership with Formula 1 will continue to support our growth globally. Becoming an official partner of Formula 1 means bringing the Paramount+ brand and all our characters to life for hundreds of millions of fans worldwide. Through this global deal the worlds of motorsport and entertainment will come together, resulting in powerful storytelling opportunities on and off the grid.”