Apple has landed US broadcast rights to Formula One in a five-year deal that would help the tech giant bolster its streaming service with one of the country’s fastest-growing sports, following the success of its Brad Pitt-starrer F1: The Movie.
The two sides did not disclose the financial details of the deal on Friday. CNBC reported it was for $140m a year, much higher than the $90m the Walt Disney-owned ESPN was paying each season for F1, which it has broadcast since 2018.
Apple’s deal begins next year. The iPhone maker will stream F1 on Apple TV, its critically acclaimed streaming service that won 22 Emmy awards this year but lacks the scale to compete with industry leaders such as Netflix and Disney+ despite billions of dollars in investment.
F1 joins Apple’s growing sports lineup, which includes Major League Soccer and Friday Night Baseball. Live sports have become a key battleground in the streaming industry as platforms compete for costly rights that attract loyal fans, reduce churn and increase ad revenue.
“We’re thrilled to expand our relationship with Formula One and offer Apple TV subscribers in the US front row access to one of the most exciting and fastest-growing sports on the planet,” said Eddy Cue, Apple’s senior vice-president of services.
As part of the agreement, Apple TV will host all practice, qualifying, sprint sessions and grands prix. Select races and all practice sessions throughout the season will also be available to watch for free in the Apple TV app.
The deal follows the box office success of the Apple-produced F1 film, which has grossed more than $628m worldwide, according to IMDb’s Box Office Mojo. The movie will make its global streaming debut on Apple TV on 12 December.
Formula One added nearly 90 million new fans last year, with China showing the biggest percentage rise after the sport’s post-Covid return to Shanghai, according to Nielsen Sports data.
