Game director Paul Jeal said that Codemasters will be planning multiplayer events built around Grand Prix weekends.
"We're still looking at what we're going to offer with RaceNet," he told Digital Spy at gamescom.
"Obviously there's the whole system of stats pages and tracking stats and going somewhere online to review other gaming profiles.
"But one of the things the guys are looking at at the moment is the opportunity to upload multiplayer events, or content where you can compete over a race weekend.
"We do a lot of data tracking with F1, and what you find always is that on the weekend of a Grand Prix, that track has a massive spike in terms of the number of users that come in and we think that is for two reasons.
> Read our full F1 2012 interview with Codemasters
"One, you watch F1 again and you instantly want to play it, but two, it goes back to that factor where it doesn't sit in people's drives long enough because it's considered more of a 'long game' experience."
Jeal added that while RaceNet won't be able to introduce new content like cars, it will run into the new season in March and will help ensure that "people are engaging the old product as opposed to playing it for a couple of months and that's it".
Copyright: CodemastersF1 2012 will feature all the latest teams, drivers and circuits, including the debut of the Circuit of the Americas in Austin, Texas and the return of Germany's Hockenheim circuit, as well as localised weather.
Codemasters recently revealed a sequel to the BAFTA-winning GRID.
The publisher is also working on free browser game F1 Online, which entered open beta on August 15.
F1 2012 will be available on Xbox 360, PS3 and PC on September 21 in the UK, across Europe on September 20 and in North America on September 18.
> Read our review of F1 2011 (PS3)
> F1 won't see a yearly release on Wii U, says Codemasters
Watch the Champion's Mode trailer for F1 2012 below: