Apple is reportedly in intense negotiations to acquire the F1 broadcast rights in the US via its own Apple TV platform. The expiration of F1’s existing deal with ESPN this year has fueled fierce competition between the broadcasting giants.
According to the Financial Times, Apple aims to bring Formula 1 to US viewers starting in 2026. However, the tech giant is reportedly not alone in this race, and the details of its bid are yet to be finalized.
ESPN passed on its exclusive bidding period for Formula 1 broadcasting rights, citing rising costs. However, this doesn’t mean the broadcaster is withdrawing from the race; it remains at the negotiating table with Apple and other potential suitors.
F1 could soon be transferred to Apple
Formula 1 owner Liberty Media generates approximately $90 million annually from the broadcasting rights of the popular sports franchise. F1 TV also operates a direct-to-consumer service, a $130 annual subscription, where fans can watch all races live and on-demand.
With the racing series’ growing global popularity, the cost of the next round of royalties is expected to rise significantly. Estimates point to a range of $120-150 million annually, a figure Apple is expected to easily cover.
The fate of F1 TV in the event of a potential Apple deal remains uncertain. In other markets worldwide, exclusive F1 broadcast rights holders can restrict F1 TV’s availability under their agreements with the league. If Apple chooses not to make a deal while customers have the option to stream elsewhere, F1 TV’s presence in the US could be terminated.
Apple’s sports broadcasting portfolio continues to expand. The company currently offers baseball and MLB matches on Apple TV+. In the US, the Apple TV app also streams all Major League Soccer matches. The F1 deal will strengthen Apple’s position. While the deal is costly, it is believed to be within the price range of Apple’s existing sports rights agreements.
Apple’s interest in Formula 1 is not new. Company executives are known to regularly attend race days, and Apple has already shown “F1: The Movie” in theaters. A documentary about Formula 1 driver Lewis Hamilton is also expected to premiere on Apple TV+ in the future.
However, the biggest growth in F1 viewership in the US in recent years has been driven by Netflix’s popular series “Drive to Survive.” This raises the question of whether Netflix will make a serious bid for the sport’s broadcast rights. The race for broadcast rights is at a critical juncture that will shape the future of Formula 1 in the US.
