Apple Inc. (XNAS-AAPL) is reportedly setting its sights on acquiring U.S. broadcasting rights for Formula 1, positioning itself to rival current rights holder ESPN in a bold move to grow its presence in live sports streaming.
The tech giant’s interest comes on the heels of its highly successful F1 themed film featuring Brad Pitt, which generated over $300 million at the box office reinforcing Apple’s belief in the sport’s global appeal and its power to draw new viewers to Apple TV+. The movie’s performance is seen as a vote of confidence in Formula 1’s entertainment value and its potential to boost subscriber engagement.
Apple’s growing investment in sports is nothing new. In recent years, the company has struck deals to stream Major League Baseball’s Friday matchups and secured exclusive rights to Major League Soccer. Adding Formula 1 to its portfolio would signal a significant leap, placing Apple in direct competition with established players like Amazon, Netflix, and Disney in the race for premium sports content.
With ESPN’s exclusive renewal period for Formula 1 rights expiring without a deal, the bidding field is now open. Apple’s substantial resources and appetite for strategic expansion suggest it could play a defining role in shaping the next chapter of sports broadcasting in the U.S.