Apple is poised to acquire the U.S. broadcasting rights to Formula 1, offering $150 million per year—double the amount ESPN was willing to pay and reportedly the only bid on the table. This deal would mark a significant shift as Formula 1 has never before been exclusively streamed, with ESPN currently airing races across its main networks but not solely on ESPN+. Liberty Media, the F1 owner, is likely to accept Apple’s offer given the lack of competing bids.
This move aligns with Apple’s growing sports media portfolio, which includes exclusive global rights to Major League Soccer and U.S. rights to select Major League Baseball games. Despite concerns about exposure due to Apple’s non-participation in Nielsen ratings, the company’s investment in Formula 1 suggests it sees substantial opportunity in the sport. Unlike Netflix, which produced the popular “Drive to Survive” series but did not extend its partnership, Apple has already produced the successful feature film “F1,” indicating a strategic commitment to expanding its sports content offerings.
