Apple has swooped in to grab exclusive broadcast rights for Formula One in the US market, securing a lucrative five-year deal that is set to catapult the tech giant into the world of high-stakes motorsports. The agreement, reportedly worth $140m annually, marks a significant departure from Apple's relatively modest streaming service, which has seen limited success in competing with industry heavyweights like Netflix and Disney+.
The deal, which begins next year, will see Formula One become the latest addition to Apple TV's growing sports lineup, joining Major League Soccer and Friday Night Baseball. With this move, Apple is looking to tap into one of America's fastest-growing sports, following the success of its recent film adaptation, F1: The Movie, which raked in over $628m worldwide.
While details of the financial arrangement remain under wraps, insiders suggest that the cost will be a significant departure from what Walt Disney-owned ESPN has been paying for similar rights – a staggering $90m annually. The stakes are high for Apple, with live sports now becoming a key battleground in the streaming industry.
"We're thrilled to expand our relationship with Formula One and offer Apple TV subscribers in the US front row access to one of the most exciting and fastest-growing sports on the planet," declared Eddy Cue, senior vice-president of services at Apple. With select races and practice sessions set to be available for free in the Apple TV app, fans can look forward to a more affordable entry point into the world of Formula One.
The deal comes as Formula One continues its upward trajectory, with an impressive 90 million new fans flocking to the sport last year alone – a significant increase from previous years. China proved to be a hotspot for growth, with fan numbers rising by a staggering percentage after the sport's return to Shanghai following the pandemic. As Apple gears up to take on the best of the streaming game, this latest coup could prove to be a turning point in its efforts to establish itself as a major player in the world of sports broadcasting.
The deal, which begins next year, will see Formula One become the latest addition to Apple TV's growing sports lineup, joining Major League Soccer and Friday Night Baseball. With this move, Apple is looking to tap into one of America's fastest-growing sports, following the success of its recent film adaptation, F1: The Movie, which raked in over $628m worldwide.
While details of the financial arrangement remain under wraps, insiders suggest that the cost will be a significant departure from what Walt Disney-owned ESPN has been paying for similar rights – a staggering $90m annually. The stakes are high for Apple, with live sports now becoming a key battleground in the streaming industry.
"We're thrilled to expand our relationship with Formula One and offer Apple TV subscribers in the US front row access to one of the most exciting and fastest-growing sports on the planet," declared Eddy Cue, senior vice-president of services at Apple. With select races and practice sessions set to be available for free in the Apple TV app, fans can look forward to a more affordable entry point into the world of Formula One.
The deal comes as Formula One continues its upward trajectory, with an impressive 90 million new fans flocking to the sport last year alone – a significant increase from previous years. China proved to be a hotspot for growth, with fan numbers rising by a staggering percentage after the sport's return to Shanghai following the pandemic. As Apple gears up to take on the best of the streaming game, this latest coup could prove to be a turning point in its efforts to establish itself as a major player in the world of sports broadcasting.
what's next? first they gonna make their own cars like Ferrari 
Omg I'm low-key excited about this deal! 
I mean Apple is already killing it with their music and movies but adding F1 to the mix could be a game changer for them. The thought of having exclusive access to all those high-speed racing moments is giving me goosebumps 
Plus, $140m is no joke 
? That would be lit 
And isn't this like a big risk for Apple? They already have music and movies, but now they're trying to get into sports... what if nobody watches? 
Still, I guess it's interesting to see tech companies try new things. But how much are these races gonna cost on the Apple TV app? Are we talkin' $10 a month or something crazy like $50? 
five years is a looong time but if they can pull off making F1 accessible to more people on apple tv then this could be huge! 
china being a hotspot for growth is awesome, now we just gotta see how they execute this 
that's like a huge move they're making to get more fans into their service lol and 140m annually is insane how much money they must be throwing around for this deal idk if i'd want to watch formula one though its not really my thing but hey more power to apple for trying out new things 
. Five years is a long time, but if they can make it work without annoying their subscribers with too much ads 
, this could be the move to get them noticed. I'm all for sports on TV, especially if it's something like F1 where you really care about the outcome 
...
but seriously, $140m annually is crazy for just 1 sport... what's next? they gonna buy the whole nfl or sumthn 
I'm still waiting to see how this is going to pay off for them... and what about all those free races and practice sessions that are supposed to lure in new fans? 
. And let's be real, the numbers are insane – 90 million new fans last year? That's some serious growth right there! 
. However, one has to wonder if this strategy will lead to an oversaturation of sports content on Apple TV, diluting its overall value proposition 
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. Nevertheless, the stakes are high, and it remains to be seen how this will impact the future of live sports broadcasting 
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oh man, can you believe it? Apple is finally jumping into the high-stakes motorsports scene and I am SO here for it 
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Only time will tell if this deal is the fuel that ignites their success or just another spin cycle 
Also, I'm not sure how big F1 is for Americans vs. elsewhere... will Apple's marketing magic make a huge difference? 