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Apple is reportedly interested in the broadcast rights to F1. This follows the success of the company’s F1: The Movie. ESPN currently holds the rights and could retain them, but did not make a deal during an exclusive negotiating period with the league.
As F1: The Movie continues to roar through the box office, Apple could be turning its attention to the F1: The Sport.
The Financial Times reports Apple is in talks to steal away the streaming rights for F1 events from Disney following the success of the company’s first box-office smash. ESPN currently broadcasts F1 races, but its contract is set to expire next year.
Should it succeed, it will be the latest of a growing string of live-sports coups for Apple. The company began airing games from Major League Baseball in 2022 and has a deeper deal with Major League Soccer as well.
F1’s broadcast deal was expected to be worth $121 million per year when it came up for renewal, Citi estimated. However, with the success of F1: The Movie, which has brought in $300 million at the global box office so far, that number could be revised upward. (When it signed the deal with ESPN, the rights went for $85 million per year.)
ESPN could have locked up F1 prior to this, as it had an exclusive period to negotiate a deal. Nothing was struck, though, which opened the rights up to competition. Viewership of F1 events has doubled on ESPN since 2018.
F1 has expanded its footprint in the U.S. lately, with an annual race in Las Vegas along the strip and another high-profile event in Miami. In addition to airing on ESPN, the league offers a stream of races, which charges fans directly.
This story was originally featured on Fortune.com
