As Apple is reportedly approaching the announcement of a $140 million annual agreement for the US rights to Formula 1 (F1), the company’s senior vice president of Services, Eddy Cue, has been actively engaging in conversations regarding the landscape of sports streaming and the direction of Apple TV. His recent engagements, including participation in a panel at Motorsport Network’s Autosport Business Exchange NYC and an interview with CNBC, have illuminated Apple’s outlook on sports streaming.
### More Bundling
In his discussions, Cue critiqued the disjointed state of the current sports streaming environment, contrasting it with the straightforwardness of the cable television era. He remarked, “We’ve gone backwards. (…) You used to buy one subscription, your cable subscription, and you got pretty much everything they had. Now, there’s so many different subscriptions, so I think that needs to be fixed.” While Cue didn’t share specific details about Apple’s strategy, he hinted at the idea of “more bundling.” This was soon followed by the reveal of a new bundle combining Apple TV and Peacock, signaling a shift towards simplifying subscription choices for consumers.
Cue also underscored the potential of streaming technology advancements that have yet to be fully leveraged. He noted that leagues with multiple partners should easily integrate features such as picture-in-picture, implying that the industry has opportunities for innovation and growth.
### We Do Love F1
When the discussion turned to Formula 1, Cue conveyed Apple’s passion for the sport, pointing out that the F1 movie holds the record as the highest-grossing sports film ever. He acknowledged the upcoming F1 rights deal, stating, “We do love F1.” Reports suggest that Apple is nearing the completion of its long-anticipated F1 streaming package, which could be revealed at the U.S. Grand Prix in Austin.
A significant component of this deal might involve the cessation of the standalone F1.TV streaming service in the U.S., aligning with Cue’s remarks about minimizing fragmentation in the streaming marketplace. This could streamline F1 content access for viewers, facilitating easier engagement for fans with the sport.
### Conclusion
As Apple establishes its presence in the sports streaming sector, the prospective F1 deal represents a strategic move towards enhancing its content portfolio and tackling the issues of subscription fragmentation. With an announcement on the horizon, many fans are eager to observe how Apple intends to transform the viewing experience for Formula 1 and possibly other sports in the future.
Apple TV is presently available at $12.99 per month, offering a variety of popular shows and films, and the company’s continuous efforts to innovate in the streaming domain could further boost its attractiveness to both sports enthusiasts and general audiences.
