Formula 1 has confirmed that its new over-the-top streaming service, F1 TV, will be launched in time for next month's Spanish Grand Prix on May 13 after its initial release was delayed.

F1 announced plans to launch the new broadcast platform during pre-season testing in Barcelona at the end of February, with the aim of having it in place for the start of the 2018 season in Australia.

The series confirmed it would be delaying the launch while development continued to ensure viewers were given the best possible experienced, but has now confirmed F1 TV will be up and running for the Spanish Grand Prix.

F1 TV will initially launch on desktop before rolling out to tablets and other devices soon after, with an expansion to Amazon Fire TV, Android TV and Apple TV being targeted for the summer. Coverage of Formula 2, GP3 and the Porsche Supercup is also set to come to F1 TV at a later date.

The initial plan for the two-tier subscription service remains in place, while it was also confirmed that F1 will work with NBC Playmaker, iStreamPlanet, CSG, and Ostmodern to help deliver F1 TV all over the world.

"There is tremendous opportunity in the OTT space to provide F1’s avid fans with a unique F1 viewing experience across all devices," F1's director of digital and new business Frank Arthofer said.

"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."

You can find out everything you need to know about F1 TV by clicking here.