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Formula One delays launch of new OTT streaming service

Formula One has delayed the introduction of its new Over-The-Top streaming service which was scheduled to premiere at this weekend's Australian Grand Prix.

However, the service will be tested in Melbourne with a limited number of beta users.

"We will do an intense stress test this weekend, with people connecting from all over the world to test functionalities," said an F1 spokesman.

The streaming OTT product is expected to eventually roll out in 40 countries across several regions.

The revolutionary subscription service will broadcast live all race weekend sessions as well as press conferences and pre-race and post-race interviews.

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In addition, subscribers will be able to watch support races from Formula 2, GP3 Series and Porsche Supercup, among others.

Among the channels viewers will have at their disposal, one will offer the option of selecting an on-board camera of choice while the other will display a wealth of race and technical data.

F1 TV is also expected to generate significant revenue in the future as Liberty Media taps into the sport's demographics and massive fan community.

"We have by our estimates around 500 million Formula One fans in the world, about 5% percent of the world’s population, which is quite a number," recently said Frank Arthofer, F1's director of digital and new business

"If even conservatively 1% of that customer base is a super-avid hardcore fan, that’s 5 million addressable audience to who would potentially be willing to pay the incremental fee for what is really the best way to watch Formula One in the market."

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.