After the success of F1 starring Brad Pitt on Apple TV+, Apple is looking to secure live rights for the glitzy racing circuit.
According to a report by Samuel Agini and Michael Acton in Financial Times, Apple is in talks with Formula One to secure broadcast rights in the United States. ESPN currently holds the rights stateside, paying $85 million per year to broadcast every race. Formula One is reportedly seeking between $150 and $180 million per year in its next deal, though prior reports suggest Liberty Media, the circuit’s controlling stakeholder in the U.S., is struggling to attract that high of a price.
Per the Financial Times, ESPN and other bidders are still in the mix for rights, but it’s unclear if any other potential partner has submitted a firm offer.
The report suggests that Apple’s interest in securing the circuit’s media rights was spurred on by the commercial success of F1. The movie marked a transition for Apple TV+ from producing more niche offerings to aiming for “mainstream blockbusters,” and the strategy paid off. F1 has earned Apple about $300 million at the box office, the streamer’s highest-grossing film of all time.
Apple, of course, has dabbled in live sports before. Apple TV holds exclusive broadcast rights to MLS and produces a Friday Night Baseball package for MLB. Formula One would fit its preference of controlling the entirety of a sport’s inventory, a la MLS, rather than owning just a small part of a league, like MLB.
About Drew Lerner
Drew Lerner is a staff writer for Awful Announcing and an aspiring cable subscriber. He previously covered sports media for Sports Media Watch. Future beat writer for the Oasis reunion tour.