Formula 1 has announced that the official launch of the sport's new F1 TV streaming service will coincide with the start of the European season.

The much expected over the top subscription video platform will be proposed to F1 fans from next month's Spanish Grand Prix.

Until then, Formula 1 will continue to run a closed beta version of the service to a small subset of fans for viewing and testing during this weekend's Chinese Grand Prix and at the following Azerbaijan Grand Prix.

The OTT service, which was initially expected to debut in Melbourne, had been delayed in order to allow for its beta-testing and some fine-tune of the platform.

"There is tremendous opportunity in the OTT space to provide F1’s avid fans with a unique F1 viewing experience across all devices," said Frank Arthofer, Director of Digital and New Business for F1.

"With this launch, fans will find an easy to use streaming experience, rich with live and on-demand content available only on F1 TV, all at a great price."

F1 TV will have two service levels at two different price points. F1 TV Pro, the premium tier, will feature live races and all 20 driver-cameras, as well as side-by-side live race viewing and additional exclusive feeds.

Subscribers will be able to personalise the way they watch a Grand Prix, the content they view and how and when they access it. All of practice, qualifying and races will be offered live, along with press conferences and pre- and post-race interviews.

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Later in the season, the main support series FIA Formula 2 Championship, GP3 Series and Porsche Supercup will be added to the service.

F1 TV will initially launch on desktop. Apple, Android and Amazon Fire mobile and tablet devices will launch shortly thereafter. By summer, the service will also be available to fans on Amazon Fire TV, Android TV and Apple TV.

Pricing will be offered on an annual basis of $70-$150, with monthly rates ranging from $8-12. The service will be priced according to market.

A less expensive, non-live subscription tier, F1 TV Access will provide live race timing data and radio broadcasts, as well as extended highlights of each session from the race weekend.

It will also be underscored by unprecedented access to archive video content from the amazing historic archive owned by Formula 1. F1 TV Access will be available on a near-global basis at launch, to complement F1 TV Pro; and will also be added to throughout the season.

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