Formula One was a series of computer and video games originally created by Psygnosis and more recently Studio Liverpool. It takes its name from the popular car racing series of the same name. Since 2001, the Formula One series has been made by Studio Liverpool (an internal Sony Computer Entertainment Europe game studio) with the FOA Official License. Sony had held an exclusive license to make Formula One games from 2003 until 2007, releasing a new title every year which includes improvements to the graphics engine as well as an updated and complete F1 grid showing the latest liveries, chassis and drivers. The series covered every year from 1995 to 2006, with the exception of the 1996 season.