F1's online presence under Liberty Media is a great example of how to do it right. Every race gets same-day highlights on YouTube within hours, along with tons of interview and analysis content. You can be an F1 fan and not spend a penny to watch the entire season. But the premium option to watch full events live is still there, along with merchandising, (quite good) licensed video games, etc. As a result, F1 is growing faster than ever before and is profitable for the first time in years.