Apple Secures Formula 1 Broadcast Rights in $700 Million Deal
CUPERTINO, CA – Apple has reached a landmark agreement to become the exclusive broadcaster of formula 1 races in the United States, beginning in 2025, in a deal valued at $700 million, according to multiple reports. The partnership expands Apple’s growing presence in live sports streaming and aims to further cultivate F1’s burgeoning popularity in the American market.
Formula 1 Chief Executive Stefano Domenicali stated Apple will help F1 “reach more homes and more into American fan culture,” while also attracting a younger generation of fans. ”It’s the perfect combination to hopefully become socially relevant quickly in a way where everyone wakes up and thinks about Formula 1 the way you think about the NFL, NBA or MLS,” Domenicali added.
The deal encompasses broadcasting of F1 practice, qualifying, sprint races, and Grand Prix competitions. Apple plans to leverage its entire ecosystem – including its retail stores, apps, podcasts, music, Apple TV+, books, and Apple News – to enhance the viewing experience.
This move follows Apple’s successful foray into sports content with its film based on the racing series, starring Brad Pitt, which has grossed nearly $630 million at the box office. Eddy Cue,Apple’s senior vice president of services,highlighted the film’s success,calling it “the biggest Brad Pitt movie of all time,the biggest sports movie of all time.” He also stated sports has an “exponentially huge” growth possibility.
The partnership builds on existing momentum for F1 in the US, where viewership on ESPN channels has surged to an average of 1.4 million this year, surpassing the previous record of 1.21 million set in 2022.The sport has recently added races in Miami and Las Vegas to its calendar, alongside the established Grand Prix in Austin, Texas.
Apple previously entered the live sports streaming market with deals to broadcast Major League Baseball’s Friday night games and Major League Soccer in North America.
Domenicali and Cue share a connection beyond the buisness deal, both having ties to Ferrari: Domenicali previously worked for the italian racing team, while Cue is a board member of the carmaker that owns the F1 team.
