Apple Bids $150 Million Annually for U.S. Formula 1 Streaming Rights
Industry Impact and Bidding Dynamics
Apple Inc. has made a substantial move in the motorsports domain by submitting a bid exceeding $150 million annually for the exclusive streaming rights to Formula 1 in the United States, set to begin in 2026. This bid follows the recent success of the major motion picture "F1," which has significantly increased interest in the sport. A source informed Business Insider that ESPN, the current rights holder, is unlikely to match Apple’s offer, although negotiations are still in progress.
Background and Current Landscape
ESPN has broadcast F1 races since 2018, when it took over from NBC for an annual fee that started at zero and escalated to between $75 million and $90 million following a surge in viewership due to Netflix’s "Drive to Survive" series. Liberty Media, F1’s parent company, is now seeking a deal in the $150 million to $180 million range, reflecting the sport’s growing market value, despite recent viewer numbers in the U.S. stabilizing around 1.2 million after a slight dip to 1.1 million.
Future Prospects
Apple’s entry into F1 represents its most ambitious investment in global sports streaming to date, complementing existing deals for Major League Soccer and select baseball games. As discussions progress, the impact of "F1" on American viewership habits remains uncertain, particularly given the sport’s typical time slots in U.S. markets.
Further insights are awaited from Formula One Management as this pivotal deal unfolds, potentially shaping the future of motorsport broadcasting in the United States.
