Apple Expected to Win Rights to Formula 1 With $150M Bid
Apple is expected to win the rights to stream Formula 1 races on Apple TV+ in the United States thanks to a $150 million bid, Business Insider reports.
The rights to broadcast Formula 1 in the United States are currently held by Disney's ESPN. According to sources familiar with the negotiations, Disney is apparently unwilling to match or beat Apple's offer. It pays around $85 million per year for its current rights, just over half of Apple's latest bid.
Interest from other suitors, such as Netflix, was also reportedly "muted," leaving Apple as the leading bidder for the U.S. rights to show the races. As a result, Apple is likely to have another sport to stream on Apple TV+ next year, alongside Major League Baseball and Major League Soccer.
Apple's move to gain the rights to stream Formula comes amid the success of "F1: The Movie," which is Apple's first major box office hit, earning over $300 million globally already. It is expected to become available on Apple TV+ later in 2025.
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