Apple may be trying to pick up Formula 1's US broadcast rights
F1 is said to make about $85 million per year from its deal with ESPN. Interest in the sport has soared in the US over the last few years, in part due to the popularity of Netflix's Drive to Survive docuseries as well as Apple's movie and the introduction of two more grand prix in the country. As such, analysts estimate that F1's next US broadcast agreement could be worth around $121 million annually — chump change for Apple, which posted net income of $28.8 billion in the first three months of this year.
ESPN failed to strike a new deal with F1 during an exclusive negotiating window, which closed last year. Other bidders are expected to be interested in the US broadcast rights.
Securing the F1 broadcast rights seems like a natural next step for Apple in the world of sports. Along with its expansive Major League Soccer agreement, the company streams MLB games on Friday nights . It's unclear whether F1 races would require a separate subscription via Apple, like the MLS Season Pass , or if the company would want Formula 1 to ditch its own streaming service in the US as part of any deal.
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