Apple Eyes Formula 1 Broadcasting Rights in the US
Apple is reportedly considering a bid to become the US broadcasting home for Formula 1. The move would further expand Apple’s presence in the sports streaming arena and bring the popular racing series to Apple TV+ subscribers.
Why Formula 1?
Formula 1 has seen a surge in popularity in the United States in recent years. This increase is due, in part, to the success of Netflix’s docuseries, “Drive to Survive.” The series has captivated new audiences and created a wider appeal for the sport. Acquiring the rights would grant Apple access to a large and engaged audience.
Apple’s Sports Streaming Ambitions
Apple has already made significant strides in sports broadcasting, securing deals with Major League Baseball (MLB) for “Friday Night Baseball” and Major League Soccer (MLS). Adding Formula 1 to its portfolio would solidify Apple’s position as a major player in live sports streaming.
The Competition
Several other media companies are expected to bid for the Formula 1 broadcasting rights. Securing the deal will require a competitive offer and a compelling vision for how to grow the sport’s audience in the US.
Potential Benefits for Apple
- Increased Apple TV+ subscriptions.
- Enhanced brand image associating with a premium sport.
- New advertising revenue opportunities.
