Apple submits $150M/year bid for US F1 streaming rights, beats Disney's ESPN offer

Apple has submitted a bid worth at least $150M a year for the U.S. streaming rights for Formula 1 races beginning in 2026. The current holder, Disney's ESPN, is not expected to match or beat Apple's offer. The deal would be a significant move for Apple as it looks to expand its sports content offerings.

Apple has submitted a bid worth at least $150 million a year for the U.S. streaming rights for Formula 1 races beginning in 2026. The current holder, Disney's ESPN, is not expected to match or beat Apple's offer. The deal would be a significant move for Apple as it looks to expand its sports content offerings.

The rumors about Apple eyeing Formula 1 streaming rights aren't new, but the tech giant's recent box office success with its F1 movie starring Brad Pitt has intensified its interest [1]. According to the Financial Times, Apple is in talks to acquire the U.S. rights to stream Formula 1, with a bid that could be worth at least $150 million annually, exceeding the current $85 million ESPN is paying [2].

F1 has been prioritizing the U.S. market, adding Miami and Las Vegas to the race calendar, alongside the Austin, Texas Grand Prix. The increased focus on the U.S. market has led to a doubling of the audience over the past seven years, making it an attractive proposition for Apple [1]. However, the risk for F1 is that by moving exclusively to a streaming platform, it might alienate some fans who prefer traditional broadcast or cable television.

While Apple's offer is substantial, it remains to be seen whether F1 will accept it. The streaming platform could offer a more immersive viewing experience, leveraging technology like the custom camera system used in the F1 movie. This could potentially attract a new audience, as seen with Netflix's "Drive to Survive" docuseries, which created a whole new contingent of fans [2].

Apple's move into sports broadcasting is part of a broader strategy to expand its content offerings. The company has already secured rights for Major League Baseball and Major League Soccer, and streaming platforms like Netflix, Amazon, Peacock, and YouTube are also vying for sports broadcast rights [2]. The success of Apple's F1 movie could also influence the deal, as the film's box office success has highlighted the potential of Formula 1 content.

However, the deal is not yet finalized. Apple and F1 are in talks, and the final decision will depend on various factors, including the potential revenue from the deal and the audience reach [3]. The current contract with ESPN expires after the 2025 season, and F1 has not yet decided on its future broadcasting arrangements [3].

References:
[1] https://bgr.com/entertainment/apple-eyes-formula-1-streaming-rights-in-bid-to-expand-its-live-sports-lineup/
[2] https://sports.yahoo.com/f1/article/apple-reportedly-outbids-espn-for-f1-us-broadcast-rights-moving-coverage-to-streaming-platform-235331555.html
[3] https://seekingalpha.com/news/4466024-apple-in-talks-for-formula-1-rights-in-us-after-movie-success---report