Apple is in active talks to acquire the rights to broadcast the sport of Formula 1 on its own streaming service platform, through the Apple TV app, according to a new report from the Financial Times. The league’s current deal with ESPN expires at the end of this year.
If a deal materializes, Apple would stream Formula 1 in the US starting with the 2026 season. However, Apple is not believed to be the only bidder and exact nature of the company’s proposal is currently unknown.
ESPN let its exclusive bidding period for the rights lapse, citing higher costs. However, it remains in the mix, alongside Apple and other bidders.
The future of Formula 1 is controlled by owners Liberty Media. ESPN’s current broadcast deal sees the US rights earn Liberty about $90 million annually. The league also currently runs its own direct-to-consumer dedicated service, F1 TV, which fans can subscribe to for about $130 a year, and watch all F1 races stream live and on-demand.
As the popularity of the premier racing series has increased, the next round of rights are likely to cost significantly more. Estimates are in the $120-$150 million per year range, something that Apple could afford in a blink of an eye.
Naturally, the fate of F1 TV is also unclear. In other markets around the world, exclusive F1 broadcast rights holders withhold the availability of F1 TV as part of their agreement with the league. Although nothing is confirmed, it seems unlikely that Apple would be interested in making a deal if customers had the option to stream elsewhere.
Currently, Apple TV+ features exclusive MLB matches with Friday Night Baseball, and the Apple TV app is the exclusive streaming home of all Major League Soccer games. An F1 deal would certainly fit neatly into the company’s portfolio, and although not cheap, comes with a price tag that is the ballpark of Apple’s existing sports rights deals (albeit this would be US only, not worldwide).
Apple has also shown much enthusiasm towards Formula 1 previously, with execs regularly attending race days, and the company just launched F1: The Movie in theaters. A documentary on driver Lewis Hamilton will also stream on Apple TV+ later.
However, the biggest boost to F1 viewership in the US so far has been the popularity of the Netflix series Drive to Survive. It’s currently unclear if Netflix is seriously considering a bid for streaming rights to the sport.
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