F1 Nears Landmark US Media Rights Deal Amid Apple Interest

Why it matters:

Formula 1 is close to finalizing a major new US media rights deal that could shift its broadcast home to a streaming platform, impacting its surging viewership.

The big picture:

F1's popularity in the US is at an all-time high, averaging 1.35 million viewers through 15 races this season. This makes the new media rights agreement particularly lucrative and strategic.

The details:

• Liberty Media CEO Derek Chang confirmed talks are "pretty far along" and "happy" with the expected outcome, anticipating an announcement soon.
• Reports suggest Apple has offered approximately $150 million annually for the rights.
• Incumbent broadcaster ESPN currently pays around $90 million and is reportedly not matching Apple's bid.
• Apple's recent F1 film success ($600M+ box office) and its upcoming transition to Apple TV+ are seen as key motivators for securing live race rights, creating a direct path for new fans.

What's next:

Shifting from a traditional broadcaster to a streaming service poses a significant risk to F1's current viewership momentum, despite the potential for new subscriber growth and broader monetization opportunities. The decision will reshape F1's US market strategy.