VR Tech Looks to Invest Heavily in Formula One

Formula One has always been the testing bed for prototypical technologies, but it soon might not be limited to vehicles.

Formula One is at a crossroads. With Ecclestone officially no longer helming the project, the pack of voracious wolves that are tech companies have had the gates opened for them. Now, with Liberty Media calling the shots, it’s no secret that big changes are on the way for the sport. Keen to rekindle interest in its younger audience, Liberty Media have been planning a big step into the digital world – and their interest has sparked that of others.

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Bose’s marketing chief, Ian McGibbon, commented on the changing nature of media consumption; highlighting the desire in for a much more “physical” experience rather than just that of a passive observer:

“I think the consumer is after personal experiences first and foremost. But they always like behind the scenes too – so a peak behind the curtains scenario.
What you watch on YouTube and Facebook is great and engaging, but people still want a physical experience. I think that is the way it will continue to go. It will be more and more about an engaging experience, but physical as well.

With iPhone we have gone back to touch – which is so natural to us, rather than typing on a computer. What is happening at home with Amazon’s Alexa and Google, it is taking us to voice, which is that much more basic than touch. Technology is becoming more and more accessible for generations of people.” – Ian McGibbon

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The fledgling worlds of Virtual Reality and Augmented Reality are a godsend for media companies. Any way in which they can get a consumer to spend more time engaged with their product or service, the better for them. Liberty Media don’t just want a hit Motorsport on their hands, they want a global phenomenon with a viral spread across every demographic.