Formula One announces contract extension with Tencent
Ahead of this weekend's Chinese Grand Prix, Formula 1 and Chinese multimedia company Tencent have today announced a multi-year renewal which will see the broadcaster continue as the exclusive digital media broadcasting platform for F1 in mainland China.
As part of the renewed agreement, which runs until the end of 2027, Tencent will leverage its diverse digital media and social platforms - including Tencent Video, Tencent Sports, WeChat, Tencent News, qq.com, and QQ - to offer fans comprehensive coverage of every F1 Grand Prix, Qualifying, Practice, and F1 Sprint session throughout the season, along with highlights from the all-female series, F1 ACADEMY.
Formula One noted that "fans will also enjoy a more immersive viewing experience with high-definition visuals, onboard cameras, and in-depth analysis from expert commentators. Additionally, Tencent’s state-of-the- art XR studio will place fans at the heart of the action, capturing every moment of the drama and excitement of a Formula 1 Grand Prix from multiple perspectives."
Following the coronavirus-enforced five-year absence, Formula 1 made its return to the Shanghai International Circuit last year, attracting a sold-out crowd of over 200,000 supporters and more than 14.8 million viewers tuning into the race across China - an increase of 50% from the last edition in 2019.
Alongside the F1 race, this weekend will see Shanghai host the opening round of F1 Academy this year, with Shi Wei set to make history as she becomes the first Chinese driver to take to the grid in the series.
Commenting on the announcement, Michaella Snoeck, Head of Media Rights at Formula 1, said: "Since the return of Formula 1 to China last year, it’s been great to see millions of fans across China tune in every weekend to watch the drama and excitement of Formula 1.
"The incredible viewership shows a real passion for the sport, and by bringing F1 ACADEMY to China for the first time this season, we hope to continue to build on the growing female audience in the country. In Tencent, we have a dedicated partner who is committed to producing world-class broadcast across its digital platforms that further ignites fans love of motorsport throughout the country.”
Reflecting on the contract extension, Jeff Han, Vice President of Tencent Online Video, said: “The popularity of F1 events in China is on the rise, particularly among younger audiences. Our collaboration with F1 is poised to ignite a new wave of motorsport enthusiasm.
"We aim to enhance the broadcasting of F1 events and develop high-quality content, enabling more users to experience the passion and unique allure of motorsport in a comprehensive and intuitive manner, thereby further promoting the growth and dissemination of racing culture in China.”
