DAZN has renewed its Formula 1 broadcasting agreement for Spain and Portugal through 2030, extending a relationship that began when the platform entered Iberia in 2021. Financial terms were not disclosed. The deal keeps F1 behind DAZN's paywall for the remainder of the current Concorde Agreement cycle and the first year of whatever follows.
The extension covers all F1 sessions—practice, qualifying, sprint formats, race coverage—plus shoulder programming. DAZN will continue producing localized pre- and post-race shows in Spanish and Portuguese. The company already holds LaLiga rights in Spain through 2029 at roughly €4.95 billion over nine years, plus UEFA Champions League in Portugal. Motorsport now sits alongside football as the second pillar in a region where DAZN has 1.2 million subscribers as of Q4 2024, per company filings.
This matters because Liberty Media is preparing to launch F1 TV Pro as a standalone product in additional markets by 2026, creating optionality to bypass traditional distributors entirely. DAZN's willingness to commit through 2030—six years forward—suggests it extracted either pricing certainty or expanded digital rights that insulate it from direct competition. The alternative is that Liberty wanted long-term cash visibility in Iberia more than it wanted leverage. Either way, someone blinked.
Spain delivered 1.1 million average viewers for the 2024 Spanish Grand Prix on DAZN, the third-highest audience for any F1 race in the country behind Barcelona 2023 and the Alonso podium at Zandvoort. Portugal remains a smaller market but grew 18% year-over-year in F1 viewership through 2024, driven by interest in the Las Vegas and Miami races. DAZN is betting that Carlos Sainz's move to Williams and Fernando Alonso's Aston Martin contract extension through 2026 keep casual audiences subscribed. If both drivers retire or slide down the grid, renewal rates will test that thesis.
The deal also clarifies DAZN's acquisition path. The company is widely understood to be positioning for an IPO or strategic sale by late 2025, per multiple banking sources. Long-term rights packages with defined costs make the business easier to model for public-market investors or a PE buyer. DAZN's parent Access Industries has hired Goldman Sachs to explore options, though no formal process has launched. A six-year F1 lock removes one variable.
Rival broadcasters in Iberia now face a narrower sports portfolio to chase. Movistar Plus+ holds some UEFA rights and domestic football but lacks a global motorsport tentpole. RTVE considered a bid for F1's free-to-air package in Spain but ultimately declined, leaving DAZN as the sole national outlet. That dynamic gives DAZN pricing power with sponsors seeking Iberian F1 inventory—expect in-stream ad rates to rise 12-15% for the 2025 season based on comparable extensions in Italy and Germany.
Liberty Media will announce its full 2025 broadcast footprint by March 15, per its standard calendar. Watch for whether DAZN's Iberian renewal is paired with expanded sub-licensing to free-to-air partners, particularly around the Spanish Grand Prix in Barcelona. If DAZN agrees to simulcast one race per season on RTVE or similar, it signals they bought flexibility, not exclusivity. Also watch for DAZN's churn rate in Q1 2025 earnings—if it ticks above 6.5%, the F1 bet starts looking expensive relative to subscriber lifetime value.
The next pressure point is Brazil, where DAZN's F1 contract expires after 2025 and Globo is circling with a bid that includes free-to-air windows.
The takeaway
DAZN locks Iberian F1 through 2030, betting Sainz and Alonso keep subs sticky while it preps for exit.
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