According to BusinessF1 magazine, Apple is reportedly bidding for the global broadcasting rights to Formula One which would be worth as much as $2 billion per year, a figure that would be double what the Formula 1 Group is currently receiving from different networks across the world.
The Walt Disney Co. owns the U.S. rights to F1 until 2025. Their deal is worth an estimated $75 to $90 million per year after it was extended last year amid reported bids from Netflix, Amazon, and NBCUniversal.
But F1 Group has deals with some broadcasters that stretch all the way until 2029, such as Sky Sports in the U.K. The differences in the rights deal expirations means that Apple will slowly gain exclusivity of the rights, starting at 25% in the first year of the deal and moving to 100% by the fifth year, according to the same report.
MacDailyNews Take: Hit series and blockbuster movies come and go, but live sports is the eternal differentiator.
Perhaps Cook should consider bidding for and winning NFL Sunday Ticket away from Direct TV, buying rights to Premiere League and La Liga games, etc. and making them Apple TV exclusives. Go directly to the sports leagues with boatlods of cash. Maybe that’ll grease the wheels [with reticent content providers]. It’ll certainly move a bunch of Apple TV boxes around the world in short order. – MacDailyNews, May 6, 2014
• Brad Pitt films scenes for upcoming Apple TV+ Formula One film at British Grand Prix – July 11, 2023
• Apple TV+ announces new feature documentary about Formula One champion Lewis Hamilton – March 10, 2022
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