Liberty Media looking into live streaming for F1

Jenson Button and Sebastian Vettel seen in action during the 2016 Formula One Grand Prix of Europe in Baku, Azerbaijan on June 18, 2016. (Photo by Resul Rehimov/Anadolu Agency/Getty Images)

F1 looks set to finally enter the world of live streaming.

Internet broadcasting has always been ruled out by Bernie Ecclestone, on the basis that the success of the sport's commercial rights was built on the sale of traditional television rights.

But F1 is being taken over by Liberty Media, whose president and CEO Greg Maffei said this week is looking to expand the sport into “OTT” – or “over the top” internet broadcasting.

“Given the global nature and the dedicated fan base we have, it would seem like an OTT product is something that makes a lot of sense for them (F1) and us,” he said during an analyst call, according to Hollywood Reporter.

However, he admitted that F1's current setup of traditional television rights means that there are obstacles.

“I don't think they're impenetrable, but there's things to be worked through,” said Maffei.