Chinese internet giant Tencent has renewed its streaming rights deal with motor racing’s prestigious Formula 1 (F1) series through the 2027 season.
The agreement will see the company continue as the exclusive digital media broadcasting platform for F1 in mainland China.
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Tencent will maintain its streaming coverage of all practice and qualifying sessions, F1 Sprint events, and grands prix across its digital platforms Tencent Sports, Tencent Video, Tencent News, OTT, and QQ.
The new deal also includes highlights from the all-female series, F1 Academy.
Shanghai will host the opening round of F1 Academy this year, with Shi Wei set to become the first Chinese driver to take to the grid in the series when it begins on Friday (March 21).
The extended contract builds on the two-year deal struck between F1 and Tencent for the 2023 and 2024 seasons.
For this year’s Chinese Grand Prix, Tencent Sports will broadcast additional programming around the race.
F1 made its return to the Shanghai International Circuit in 2024 following a five-year absence, with more than 14.8 million viewers tuning into the race across China – an increase of 50% from the last edition in 2019.
The race will remain on the calendar through 2030 after the series recently agreed a five-year extension with the organisers. F1 claims to have a fanbase of over 150 million in China.
Michaella Snoeck, head of media rights at F1, 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.”
Jeff Han, vice president of Tencent Online Video, added: “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.”
The first race of the 2025 F1 season took place yesterday with the Australian Grand Prix and attracted an audience of 3.6 million in the country on commercial channel Network 10, up 15% year-on-year compared to 2024.
The Paramount-owned broadcaster delivered its biggest race audience since 2016.
The grand prix, in which Lando Norris got his first-ever F1 victory for McLaren, was shown on the main Network 10 linear channel, the 10 Bold free-to-air digital television multichannel, and the 10 Play streaming platform.
Network 10’s coverage drew an audience share of 71.7%.
A record 465,498 fans also attended Melbourne’s Albert Park Grand Prix Circuit over four days – 10,000 more than the 2024 event.
Meanwhile, ahead of the season-opening race, F1 announced that all teams have signed the 2026 Concorde Commercial Agreement.
The existing Concorde Agreement, which covers the commercial relationship between the teams, F1 and the FIA, is expiring at the end of the 2025 season.
F1 confirmed on Sunday that all 11 teams, including new 2026 entry Cadillac, have agreed the commercial framework for a new five-year deal that will run to the end of 2030.
In a statement, the top motor racing series said: “Formula 1 can confirm that all teams have signed the 2026 Concorde Commercial Agreement, which secures the long-term economic strength of the sport.
“Formula 1 has never been in a stronger position and all stakeholders have seen positive benefits and significant growth.
“We thank all the teams for their engagement during this process to reach the best outcome for the sport. The 2026 Concorde Governance Agreement will be finalised in due course.”
The new deal oversees the start of a new rules cycle for F1, with changes to both engine and chassis regulations incoming for the start of next season.
The current Concorde Agreement allows for a maximum of 25 races to be on the sport's calendar, a figure which the current schedule is one short of.
Unlike the previous agreement reached in 2020, amid the backdrop of the Covid-19 pandemic, the new terms have been agreed with little public discourse or drama, which is perhaps a reflection of the extremely healthy position the sport finds itself in.
Last month, F1 reported a 6% rise in revenue for the 2024 financial year, bringing in $3.65 billion in total during the 12 months up to December 31, 2024, compared to $3.2 billion across 2023.
This revenue was primarily split between race promotion (29.3%), media rights income (32.8%), and sponsorship fees (18.6%).
