From movies to live races: Apple bets big on Formula 1

Apple bets big on Formula 1

Apple is in talks to acquire the US broadcast rights for Formula 1, a move that would mark its most ambitious push into live sports to date, according to people familiar with the matter. The iPhone maker is preparing to challenge Disney’s ESPN, which currently holds the rights, when the contract becomes available next year, the Financial Times reported.

A strategic shift following box office success

The negotiations follow the unexpected box office success of F1, Apple’s big-budget racing film starring Brad Pitt, which has grossed approximately $300 million globally. The film has become the company’s highest-grossing movie to date and signals a new direction for Apple TV+, which had struggled with big-screen commercial hits following underwhelming releases like Killers of the Flower Moon and Napoleon.

Apple sees the momentum from F1 and Netflix’s Drive to Survive documentary series as evidence that the sport is ripe for broader appeal in the US, particularly among younger and more diverse audiences. For Liberty Media, the US-based owner of Formula 1, this growing interest could drive up the value of its next broadcast deal.

ESPN’s exclusive window has closed

ESPN has held the rights since 2018 and currently pays around $85 million per year to broadcast F1 in the US That deal was struck amid rising American interest in the sport, and viewership has since doubled — from 554,000 per race in 2018 to roughly 1.1 million in 2024. The first 10 races of this year have averaged 1.3 million viewers, with record numbers in key races including Australia, Monaco, and Canada.

Though ESPN had a period of exclusive negotiation, that window ended last year without a new agreement, opening the door to competitors like Apple. Other bidders are expected to enter the race for rights, but Apple’s resources and growing entertainment footprint could make it a formidable contender.

F1’s rising value and Apple’s sports ambitions

Citi analysts have previously estimated that the next US F1 broadcasting deal could reach $121 million per year—a figure that may now rise further in the wake of Apple’s interest and the sport’s cultural momentum.

This is not Apple’s first foray into live sports. In 2022, it secured Friday night Major League Baseball games and later signed a long-term global streaming agreement with Major League Soccer. The company has shown a growing appetite for premium sports content to bolster Apple TV+, which remains a small but strategic component of Apple’s broader $100 billion annual services business.

US becomes F1’s key growth market

The United States has become a top priority for F1 under Liberty Media’s ownership. The race calendar now includes three American venues—Austin, Miami, and Las Vegas—and the series will welcome Cadillac, backed by GM and financier Mark Walter, as the 11th team on the grid in 2026.

Neither Apple nor Liberty Media has commented on the talks, but the possibility of Apple bringing Formula 1 to its streaming platform represents a high-stakes play in the evolving battle over sports content—and another sign that the future of live sports may not reside with traditional broadcasters.