Formula 1 CEO Stefano Domenicali has defended the sport’s recently announced broadcasting deal with Apple TV+, dismissing concerns from some investors who have labeled the move a “disaster.” The agreement, revealed in October, will see Apple develop into the exclusive home of Formula 1 racing for the next five seasons, beginning in 2025.
The criticism stems from anxieties that shifting away from ESPN, a long-standing broadcast partner, will limit the sport’s accessibility to a wider audience. During a call with Liberty Media investors, analyst Peter Supino relayed feedback from investors who expressed significant apprehension about the deal, characterizing it as potentially damaging to F1’s viewership.
Domenicali, however, countered these concerns, asserting that the partnership with Apple presents a “huge opportunity to increase reach,” particularly among younger demographics. He argued that critics fail to grasp the full scope of the agreement, which extends beyond simply broadcasting races. According to reports, Apple secured the deal for approximately $750 million.
“They don’t understand the deal because behind that, there is a huge opportunity to increase the reach,” Domenicali stated. He emphasized Apple’s ability to leverage its extensive ecosystem – including Apple News, Apple Maps, Apple Music, Apple Sports, and Apple Fitness+ – to promote Formula 1 in unprecedented ways.
The F1 CEO highlighted the potential for increased awareness in the American market, a key growth area for the sport. He expressed confidence that the Apple partnership would not only expand revenue streams but also solidify F1’s position within the United States. “I do believe that this will represent a bigger opportunity to increase also our revenue streams but also in terms of awareness in the American market,” he said. “That will enable us to convince also those who do not believe that this is the right move, but on that we have not even a single doubt.”
The collaboration between Formula 1 and Apple extends beyond live race coverage. As part of the agreement, Apple will also share the Canadian Grand Prix and a fresh season of the popular docuseries “Drive to Survive” on its platform, according to reports. This builds on a previous collaboration for the film “F1 The Movie.”
Domenicali’s defense of the Apple deal comes as Apple continues to invest heavily in sports broadcasting, adding Formula 1 to its portfolio of streamed sports, which already includes baseball and Major League Soccer. The move signals a broader shift in the media landscape, with technology companies increasingly vying for exclusive rights to live sporting events.
