Report: Apple considers huge bid for global Formula 1 streaming rights | Technology

Tim Cook Formula 1.jpg.webp.jpeg

According to a report in the latest issue of the Business F1 magazine, Apple is eyeing Formula 1 as its next big sports investment. The company is reportedly considering an offer worth about $2 billion per year, which would eventually make Apple the exclusive streaming rights holder of Formula 1 racing.

The value of the Apple deal would be about double what the Formula 1 league currently gets from its global TV rights. The magazine says that Apple’s interest in clinching Formula 1 has increased following the success of MLS Season Pass. An Apple F1 pass would likely live alongside MLS and Apple TV+ in the Apple TV app, as a standalone subscription.

Even if the hypothetical deal was struck, Apple would not be able to secure global rights for a while due to existing contracts with various broadcasters around the world.

The magazine suggests Apple would agree the contract such that it would include increasingly more territories as rights became available in those markets. For reference, US rights are currently tied up with ESPN until 2025, which is when the Apple-F1 deal would likely begin. Apple would reportedly look to sign a seven year deal, with global rights becoming available about five years in (the F1’s current media deals expire on or before 2029).

The company’s Apple TV+ content arm already has several interests in F1. It is currently in the process of producing a big-budget F1 movie starring Brad Pitt, and a documentary on racing legend Lewis Hamilton. The F1 movie was filming on track at Silverstone in July, but further production has been on pause due to the ongoing actor’s strike.

Whether an F1 streaming deal comes to pass is another matter entirely. The company has been rumored to be considering many deals with various sports leagues, including the NBA, English Premier League, NFL Sunday Ticket, and more. To…

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