Apple Eyes F1 Broadcast Rights as Streaming Wars Heat Up
Apple is in negotiations to acquire U.S. broadcast rights for Formula 1 racing. As ESPN's exclusivity ends, Apple aims to leverage F1's U.S. popularity, further boosted by Netflix's 'Drive to Survive'. This acquisition could enhance Apple TV+'s sports offerings amid intense competition in the streaming market.
Apple is reportedly in discussions to seize the U.S. broadcast rights for Formula 1 racing, a move that could potentially shake up the current landscape of sports broadcasting. The Financial Times revealed that Apple is eying the contract set to become available next year.
This pursuit comes after the successful reception of Apple's blockbuster film, 'F1: The Movie', which garnered over $300 million globally. With ESPN's negotiation period with F1 having expired, new contenders like Apple and Netflix are vying for the rights, striving to capitalize on Formula 1's increasing U.S. audience.
The move aligns with Apple TV+'s strategy to expand its sports content, thereby increasing its subscriber base. As popular shows like 'Ted Lasso' fall short of audience rivals like Netflix and Disney+, securing F1 rights could provide Apple with a competitive boost in the live sports streaming arena.
(With inputs from agencies.)
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