Carey looking for balance in broadcasting rights
Formula 1 boss Chase Carey has spoken about the difficulties in trying to keep both fans and sponsors happy when viewing the sport.
Formula 1 has transitioned from free-to-air to a subscription service, but some fans would be willing to pay for a dedicated F1 service provided by the new owners.
However, Carey has warned just how difficult it is to maintain a balance across the whole media spectrum.
“In terms of the television arena that we deal with, I guess the way to describe it is that there are three or even four potential arenas that we are engaged with,” Carey told Motorsport.com.
“Traditional free [to air], pay, digital and then our own probably more direct 'over the top' product. To some degree what you have is conflicting goals across them.
"Probably the economic premium paid gets higher as you go up the ladder, but the reach gets less.
“For us the goal is to maximise long-term growth, not to find a short-term pop. So I think we’re trying to balance what is the right mix of reach and direct economic value.
"Clearly there are impacts on other partners we have – for sponsors the fan engagement is obviously very important.
“So if you’re energising the sport I think we want to make sure we continue to position it for long-term growth that finds a balance between that reach and those economics as opposed to just where you can get the biggest buck?”
Carey ultimately believes Formula 1 will become more digital but the process will not a quick or easy one.
He added: “It’s more and more heading to various forms of digital platforms.
"I don’t think it will happen as fast as some people think – because some habits die hard, and there is a value in volume and choice.
“I think on the programming side there’s still value in reach. I think directionally it’s going there, but it will take time.
"I think there’s no question that there will be a lot more ways that content will continue to be offered to consumers that I think will benefit consumers on both ends of that.”