Somewhat like soccer, outside of the United States Formula 1 racing is really big. And Apple wants those exclusive streaming rights enough to think about putting the pedal to the metal with a $2 billion bid for them, according to a report.
Apply mulling $2 billion offer for Formula 1 streaming rights
Apple is considering an offer of about $2 billion a year for streaming rights to Formula 1 racing, according to a report in Business F1 Magazine, via GP Blog.
The magazine said Apple’s success with Major League Soccer is helping to drive the tech giant’s interest in Formula 1.
If eventually successful, Apple may offer a Formula 1 pass along with MLS Season Pass in the Apple TV app.
But the magazine suggests Apple’s rights acquisition would be gradual, limited by current contracts until they expire. For example, ESPN holds U.S. rights until 2025. And some global rights won’t become available until a few years later.
Of course, Formula 1 racing on Apple TV is far from a sure thing or a done deal. It’s just another possible major foray into live sports, where Apple has so far scored MLS Season Pass and MLB Friday Night Baseball. It recently fell short on NFL Sunday Ticket.
Regarding Formula 1, Apple has a documentary in the works about racing champion Lewis Hamilton and a movie in production starring Brad Pitt as a driver.
