Apple Could Soon Be Streaming Live Formula 1 Races
Apple could be the future home of Formula 1 for people who want to stream the sport online, according to a new report.
It’s said that Apple is eyeing the move which would see it spend around $2 billion per year, although that figure is yet to be confirmed. It was reported by Business F1 magazine and then picked up by 9to5Mac.
It’s thought that the figure would be around double what F1 currently receives from its global TV rights and it’s said that Apple is now even more interested in making a deal happen after the success of its MLS Season Pass subscription offering.
It’s thought that any Apple F1 subscription would also require an additional payment in much the same way. However, it isn’t beyond the realms of possibility that Apple could start to bundle all sports together under a single package.
However, it’s worth noting that even if Apple did buy the rights to stream F1, it wouldn’t be able to stream globally until existing deals expire.
The magazine suggests Apple would agree the contract such that it would include increasingly more territories as rights became available in those markets. For reference, US rights are currently tied up with ESPN until 2025, which is when the Apple-F1 deal would likely begin. Apple would reportedly look to sign a seven year deal, with global rights becoming available about five years in (the F1’s current media deals expire on or before 2029).
This isn’t the first time Apple has had an interest in sports other than soccer. It’s thought to be interesting in deals with the NBA, English Premier League, and others.