Apple Inc. is in discussions to acquire the US rights to broadcast Formula 1, intensifying competition with Disney’s ESPN as the current contract approaches expiry next year, the Financial Times reported on Wednesday.
The iPhone maker’s move follows the strong box office performance of its original movie F1, starring Brad Pitt, which has become Apple’s highest-grossing film to date. The film, alongside Netflix’s Drive to Survive documentary series, has boosted interest in the sport among younger, female and American audiences.
Apple eyes F1 broadcast rights
Formula 1’s US rights are currently held by ESPN, which pays around $85 million annually for the broadcasts. However, ESPN’s exclusive negotiation period ended last year without a deal, opening the bidding process to other interested parties including Apple.
Analysts at Citi estimate the next US broadcast deal could be worth approximately $121 million per year, a figure likely to rise following the film’s success. Formula 1’s global media rights revenue grew by almost 8 per cent to about $1.1 billion in 2024.
Liberty Media, the owner of Formula 1, has prioritised the US market, adding Miami and Las Vegas to the race calendar in recent years. Cadillac, backed by billionaire financier Mark Walter and General Motors, is set to join the grid as the 11th team in 2026.
Viewership of Formula 1 races on ESPN has doubled since Liberty Media took control in 2017, from 554,000 average viewers per race in 2018 to around 1.1 million in 2024. The first 10 events this year averaged 1.3 million viewers, with record audiences for races in Australia, China, Monaco, Spain, Canada and Austria.
Apple has also made moves in live sports streaming, with deals to broadcast Major League Baseball Friday night games and Major League Soccer matches in North America.
Apple, Liberty Media and Formula 1 declined to respond to the Financial Times’ request for comment.
