Autosport said that the service would feature live race coverage, as well as behind-the-scenes footage and extra content on non-race days.
Autosport’s report added that live race streams would only be available in countries where exclusive television deals are not already in place. As a result, UK-based fans are unlikely to receive access to the service, with pay-television broadcaster Sky holding exclusive rights to F1 in the country.
Speaking to the Autosport website, F1’s head of commercial operations, Sean Bratches, said that the service would give fans access to content by “any means they want”.
Bratches said: “We have an obligation to our fans, quite candidly, to ensure that they are able to access our content in any means they want. We would be derelict if we pursued a path for anything other than that.”
“Our objective is to create platforms in the direct-to-consumer arena that engage fans and leverage our assets - whether they are live races, archival (or) are data,” Bratches said.
He added: “We are trying to create content that lives outside the grand prix weekends, which has been almost non-existent from digital or linear standpoints. Our objective is to engage with the Netflixes of the world, (with) the Amazons, and create content that fans can consume, which is compelling and tells different stories about what is going on in F1."
Bratches said: “I don't want to get into specifics of any given contract, but, generally speaking, our ability to exploit the digital market place will come in deals that are not prospective, rather than legacy deals. There wasn't as keen a viewpoint for the exploitation of digital in the existing deals that have been done."