Apple Now Wants to Buy Streaming Rights for Formula 1 Racing
Following the success of "F1: The Movie," Apple now wants to buy the streaming rights to the Formula One World Championship itself, according to The Financial Times.
The company is now apparently in active talks to acquire the rights to stream Formula 1 in the United States. The move comes amid the success of "F1: The Movie," which is Apple's first major box office hit, earning over $300 million globally already.
The move puts Apple in competition with Disney, which is Formula 1's current American broadcaster, via its subsidiary ESPN. ESPN had exclusivity to negotiate a renewal deal without competition from other bidders until last year, and the process is now open to rivals.
Disney pays $85 million per year for the rights, and Formula 1 also charges fans directly for its own streaming service. Liberty Media, Formula 1's U.S. owners, hope that the Apple Original Film and Netflix's "Drive to Survive" documentary has increased the value of Formula 1.
Formula 1 viewership doubled from 554,000 to around 1.1 million in 2024, rising further to 1.3 million in the first 10 events tis year. The next U.S. Formula 1 streaming deal could now be worth in excess of $121 million a year—a considerable increase.
Apple moved into live sports streaming in 2022, and now streams Major League Baseball and Major League Soccer on Apple TV+, so adding Formula 1 to its portfolio is highly plausible. Following its run in theaters, "F1: the Movie" is expected to become available on Apple TV+ later in 2025.
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