Apple may have its eye on Formula 1’s streaming rights: report

The global streaming right of Formula 1 may fall into Apple’s hands if its $2 billion offer is accepted

As Apple continues to invest in content, the company is reportedly planning an aggressive move to bring F1 to Apple TV+.

In the latest issue of Business F1 magazine, it’s being reported that Apple is targeting the streaming rights of Formula 1. It’s said that an offer of around $2 billion USD (around $2.7 billion CAD) is on the table. 

If accepted, Apple would gain the exclusive streaming rights of Formula 1 racing worldwide. The offer will likely appeal to Formula 1 as it’s reportedly around double what it receives from global TV rights.

Apple is continuing to invest in sports-focused content. The report claims that after the success of MLS Season Pass, the tech giant is looking at new ventures to bolster its streaming service. Therefore, if a deal is brokered, a Formula 1 streaming pass could make its way to Apple TV+ alongside the soccer subscription.

Currently, the U.S. rights to Formula 1 racing are in ESPN’s hands. The ongoing deal concludes in 2025, which is when Apple is looking to take over. The Cupertino company is said to be eyeing a seven-year deal. However, global rights would then become available five years in. The current F1 media deal expires around the year 2029.

Apple is also looking to invest in other F1-related content, says the report. For example, it’s producing an F1 film starring Brad Pitt. The movie revolves around Pitt’s character, “a guy who raced in the ’90s, has a horrible crash, kind of craps out, disappears and then races in other disciplines,” said the actor in an interview with The New York Times.

Image credit: Apple

Source: Business F1 Magazine Via: 9to5Mac