Apple is reportedly ready to invest over $150 million per year to secure the broadcasting rights for Formula 1, capitalizing on the sport’s surging popularity in the United States, fueled in part by the success of its Brad Pitt-led blockbuster.
The current rights holder, ESPN, which pays approximately $85 million annually, is not expected to compete for the rights, leaving Apple as the frontrunner.
Other potential contenders, such as Netflix, have shown little interest in pursuing the deal, positioning Apple to potentially dominate the Formula 1 broadcasting landscape.
The sport’s rise in the U.S. can be traced back to Netflix’s 2019 docuseries *Drive to Survive*, which introduced American audiences to the high-octane world of Formula 1.
According to ESPN, Formula 1 races now attract an average of 1.3 million viewers in the U.S., double the viewership from 2018. The series has been a financial triumph for Netflix, generating over $300 million in revenue, with more than $140 million coming from the U.S. and Canada alone.
Also read:
- Apple Partners with McDonald’s to Promote Brad Pitt’s F1 Movie with Exclusive 1:43 Scale Cars in Latin America
- YouTube Declares War on AI-Generated Spam: New Rules to Demonetize Low-Effort and Fully AI-Produced Content
- Amazon Doubles Ad Load on Prime Video, Breaking Trust with Users
Despite this growth, Formula 1 still accounts for just 4.9% of sports viewing demand in the U.S., compared to 21.2% in markets like the Netherlands, indicating significant room for expansion.
Apple’s confidence in the sport’s potential is bolstered by the success of its Formula 1-themed film starring Brad Pitt, which has become Apple TV+’s most successful movie to date.
The tech giant’s strategic bet on Formula 1, both on the big screen and in broadcasting, signals its intent to capitalize on the sport’s growing fanbase and untapped market potential.
