Apple Acquires U.S. Formula 1 Broadcasting Rights for Five Years Worth Up to $150 Million Annually

In a strategic initiative aimed at bolstering its presence in the sports broadcasting market, Apple has secured the U.S. rights to the Formula 1 World Championship through a five-year agreement.

The deal, set to commence next season, will make Formula 1 races available on Apple TV+, including practice sessions, qualifying rounds, sprint races, and Grand Prix events.

Media reports suggest the contract is valued at approximately $140 million to $150 million per year, totaling around $750 million over five years, significantly exceeding the $90 million per year previously paid by ESPN, a Disney subsidiary, since 2018.

This agreement comes as Apple seeks to strengthen its foothold in the live streaming market, which faces intense competition from platforms like Netflix and Disney+.

The company has already ventured into sports broadcasting with NFL games and "Friday Night Baseball," but now aims to capitalize on the rapidly growing interest in Formula 1 in the U.S.

Eddy Cue, Apple’s Senior Vice President of Services, confirmed the company’s enthusiasm about expanding its partnership with Formula 1, promising a unique viewing experience for Apple TV+ subscribers in the U.S. to enjoy one of the world’s most thrilling sports live.

This agreement follows the success of Apple’s film "F1," featuring Brad Pitt, which grossed over $628 million globally and will premiere on Apple TV+ on December 12, further integrating sports and cinematic content on the platform.

Through this move, Apple positions itself at the forefront of the competition for exclusive sports broadcasting rights, underscoring the importance of sports in attracting and retaining subscribers in the digital streaming landscape.