Formula 1 racing telecasts could reportedly move from ESPN to Apple in 2026, with the streaming platform outbidding the network for the next broadcast rights agreement.
Apple offered Liberty Media $150 million per year for F1 rights, Puck’s Dylan Byers reported. That exceeds the approximate $85 million ESPN was paying for the current package, which expires after the current season.
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According to The Athletic, Liberty is “trending” toward picking Apple because of the gulf in numbers. The Athletic said ESPN offered $95 million while the Apple bid was between $120 million and $150 million and ESPN won’t be matching Apple’s offer.
Byers reports that Apple officials, including CEO Tim Cook and Disney executives CEO Bob Iger and ESPN president Jimmy Pitaro, presented their offers to Liberty Media CEO Derek Chang at the annual Allen & Company conference in Sun Valley, Idaho.
In an intriguing instance of timing, Apple is reportedly winning the F1 broadcast rights two weeks after the company’s “F1” film starring Brad Pitt finished No. 1 at the box office. To this point, “F1” has grossed $300 million worldwide.
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So Apple and F1 are effectively already in business together. But elements of the filmmaking process, directed by Joseph Kosinski, could make their way into Apple’s coverage. ESPN currently uses the world feed with announcers from Sky Sports in the United Kingdom.
Technology could lead to a much more immersive experience for viewers than the world feed that is currently broadcast on ESPN. For instance, the custom camera system used to film footage in actual F1 cars could also be used on broadcasts, according to Puck.
Apple and CEO Tim Cook have already been in business with Formula 1 racing, partnering on the production of the “F1” movie starring Brad Pitt that has grossed $300 million worldwide in two weeks. (Photo by Mark Thompson/Getty Images)
(Mark Thompson via Getty Images)
F1 will be the third sports package that Apple has agreed to, joining Major League Baseball and Major League Soccer. Streaming platforms including Netflix, Amazon, Peacock and YouTube continue to take steps into sports broadcast rights, lessening broadcast networks’ previous hold on live sporting events.
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The risk for F1 is going exclusively to a streaming platform that won’t be available on traditional broadcast or cable television. That might alienate some fans who don’t want to pay for an Apple TV+ subscription to watch races. MLS has arguably suffered from no longer being as accessible to casual viewers or devoted fans who don’t or can’t pay for MLS Season Pass.
However, F1 gained significant popularity through another streaming platform with Netflix’s “Drive to Survive” docuseries, which created a whole new contingent of fans who learned about the teams, drivers, competition and much of the drama surrounding events on the circuit.
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Yet ESPN has averaged 1.3 million viewers per race this season, doubling numbers from seven years ago when the network took over F1 broadcasts from NBC. Can Apple match that audience? It’s difficult to say since Apple does not release viewership numbers from its MLB and MLS broadcasts. F1 might be less concerned about that with the major money that Apple will reportedly be paying for its U.S. rights package.
