**Apple’s Possible Purchase of Formula 1 Streaming Rights**
Apple Inc. is reportedly engaged in talks to secure the broadcasting rights for Formula 1 racing on its streaming service, Apple TV. This initiative emerges as the existing broadcasting contract between Formula 1 and ESPN is nearing its conclusion at the end of this year, paving the way for new contenders.
Should the negotiations prove fruitful, Apple would begin to stream Formula 1 races in the United States starting with the 2026 season. Nevertheless, Apple is not the sole competitor for these rights, and the details of its offering are not public. ESPN has allowed its exclusive bidding timeframe to elapse, citing increasing expenses tied to the rights, yet it remains a potential participant in the bidding alongside Apple and others.
Liberty Media oversees the rights to broadcast Formula 1, which currently benefits from approximately $90 million each year from its agreement with ESPN. Beyond traditional broadcasts, Formula 1 also runs its dedicated direct-to-consumer service, F1 TV, providing fans the option to subscribe for about $130 annually to enjoy live and on-demand race coverage.
With the surge in Formula 1’s appeal, particularly in the United States, the upcoming round of broadcasting rights is anticipated to generate a notably higher valuation, with forecasts ranging from $120 million to $150 million each year. This figure is comfortably within Apple’s financial reach.
The future of F1 TV is unclear, as in various global markets, exclusive broadcasting rights holders frequently limit access to F1 TV as part of their agreements. It seems improbable that Apple would seek a deal if it restricted customers from streaming races on alternative platforms.
Presently, Apple TV+ showcases exclusive Major League Baseball games through Friday Night Baseball and serves as the exclusive streaming destination for all Major League Soccer matches. Securing Formula 1 rights would enhance Apple’s current sports repertoire and align with its goal of expanding its streaming options.
Apple has shown a significant interest in Formula 1, with executives regularly attending races and the recent release of “F1: The Movie” in cinemas. Additionally, a documentary centered on driver Lewis Hamilton is scheduled to stream on Apple TV+ soon.
The increase in Formula 1’s U.S. viewership has been notably impacted by the Netflix series “Drive to Survive,” which has engaged viewers and attracted new fans to the sport. It remains unclear whether Netflix will also contemplate bidding for the streaming rights.
In conclusion, Apple’s potential acquisition of Formula 1 broadcasting rights could transform the landscape of sports streaming in the U.S., enriching its offerings and leveraging the sport’s climbing popularity.
