Paramount+, the global streaming service from Paramount (NASDAQ: PARA, PARAA), and Formula 1® today announced an official promotional partnership for the 2023-2024 season, marking the first of its kind partnership for the global racing spectacle. With the deal, Paramount+ becomes an Official Partner of Formula 1.
The partnership will see the streamer’s broad and popular content offering come to life at Formula 1 events, with Paramount+ hit series, blockbuster movies and beloved characters taking center stage inside Fan Zone areas with the biggest stars coming together on and off the grid. Additionally, the partnership includes Paramount+ branding on track and physical trackside signage, digital sponsorships and promotional opportunities, which started in Melbourne, and will be followed by activity in Miami, Montréal, Austria, Silverstone, Monza, Suzuka, Austin, Mexico City, São Paulo and Las Vegas.
Marco Nobili, Executive Vice President and International General Manager Paramount+, commented:
“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.”
Brandon Snow, Managing Director of Commercial at Formula 1 said:
“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.”
The partnership follows a successful short-term deal between Paramount+ and Formula 1 in 2022, which saw the streamer gain strategic exposure at key Formula 1 races, including Silverstone in the UK and Monza in Italy.