apple Accelerates into F1 with $700 Million US Broadcasting Deal
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cupertino, California – October 18, 2024 – Apple has officially entered the live Formula 1 racing market in the United States with a reported $700 million deal, intensifying competition in the rapidly expanding sports streaming landscape. The agreement, announced today, will see Apple TV+ become the exclusive home for F1 broadcasts in the US beginning in 2025.
This move follows the success of the Apple Original film F1: drive to Survive
,which grossed approximately $630 million worldwide at the box office,becoming the most triumphant original content released on Apple TV+. Apple has already been testing the waters in sports streaming, broadcasting Major League Baseball (MLB) Friday games since 2022 and securing a dedicated streaming contract for Major League Soccer (MLS).
Expanding sports Portfolio
Eddy Q, Apple’s senior vice president of services, emphasized the growth potential of Formula 1, stating to the Financial Times, F1 is a sport with explosive growth opportunities. We will completely change the fan experience by mobilizing all of Apple’s platforms, including movies, TV, music, news, and the App Store.
” he further highlighted the synergy between sports content and Apple’s broader ecosystem, citing the success of F1: Drive to Survive
as evidence of this potential.
The popularity of Formula 1 in the United states has surged recently. Average viewership numbers for races this year reached 1.4 million, surpassing the 2022 peak of 1.21 million, according to ESPN.This growth is largely attributed to the popularity of Netflix’s docuseries Drive to Survive
, which attracted a younger demographic to the sport. Apple’s entry is expected to further accelerate this expansion within the US market.
did You Know?
The $700 million deal represents a meaningful investment by Apple,underscoring the company’s commitment to becoming a major player in live sports broadcasting.
| Metric | Value |
|---|---|
| Deal Value | $700 Million |
| F1 Film Gross revenue | $630 Million |
| 2024 Avg. US Viewership | 1.4 Million |
| 2022 Peak US Viewership | 1.21 Million |
Pro Tip:
Keep an eye on Apple’s integration of F1 content across its various platforms – expect exclusive features, behind-the-scenes access, and interactive experiences.
Photo = Newsis foreign media image
pride@fnnews.com Correspondent Lee byung-cheol
Source: Financial News
The Rise of Sports Streaming
The sports streaming market has experienced explosive growth in recent years, driven by cord-cutting and the increasing demand for on-demand content. Major players like ESPN+, Amazon Prime Video, and Peacock are all vying for a piece of the action, investing heavily in live sports rights. Apple’s entry into the F1 market is the latest example of this trend, signaling a continued shift away from customary broadcast models.
Frequently Asked Questions about Apple and F1
- What does this Apple F1 deal mean for viewers? This means exclusive access to Formula 1 races in the US through Apple TV+, possibly with enhanced features and integration with other Apple services.
- How much will Apple TV+ cost to watch F1? The cost of Apple TV+ remains $9.99/month,but access to F1 races may require a separate subscription or add-on package.
- Will Apple produce more sports content? Apple has already demonstrated its commitment to sports with MLB and MLS, and this F1 deal suggests further expansion is likely.
- what impact will this have on other sports broadcasters? This deal intensifies competition in the sports streaming market, potentially forcing other broadcasters to innovate and offer more compelling content.
- What role did
Drive to Survive
play in apple’s decision? The success of the Netflix docuseries demonstrated the growing popularity of F1 in the US, making it an attractive investment for Apple.
What are your thoughts on Apple’s move into F1 broadcasting? Do you think this will change the way you watch races?
Share this article with fellow F1 fans and let us know your predictions for the future of sports streaming!
