Apple Pursues Exclusive U.S. Formula 1 Streaming Rights
In a bold move to expand its sports streaming portfolio, Apple has submitted a bid exceeding $150 million annually for exclusive U.S. media rights to Formula 1, set to begin in 2026. This strategic investment follows the success of Apple’s recent “F1” film, which emerged as the company’s highest-grossing feature.
Sources indicate that current rights-holder ESPN, under Disney, is unlikely to match Apple’s substantial offer. ESPN has been broadcasting F1 races since 2018, originally at no cost, but has since increased its investment significantly, agreeing to terms of $75 million to $90 million per year in its latest deal.
As interest in F1 grows, fueled by the popularity of documentaries like Netflix’s "Drive to Survive," viewership trends indicate a mixed scenario. ESPN reported an average of 1.2 million viewers per race in 2022, dipping to 1.1 million in 2023 before rebounding to 1.2 million. However, the sport’s parent company, Liberty Media, is seeking annual deals in the range of $150 million to $180 million, reflecting F1’s rapid expansion.
Despite these figures, concerns linger over the sport’s engagement in the U.S., particularly given that many races are scheduled during off-peak hours for American audiences. As negotiations progress, the implications of Apple’s bid could reshape the landscape of motorsport broadcasting in the coming years.
Key Takeaways:
- Apple’s Bid: Over $150 million annually for exclusive F1 streaming rights starting in 2026.
- Current Rights: ESPN’s deal valued at $75 million to $90 million, with negotiations ongoing.
- Viewership Trends: Average U.S. race viewership slightly fluctuating around 1.2 million.
- Market Context: Liberty Media seeks significant increases in broadcasting revenue amid evolving viewer habits.
This potential acquisition underscores Apple’s commitment to enhancing its sports content and leveraging the momentum generated by its recent film project.
