Apple is reportedly in active discussions to acquire the U.S. streaming rights for Formula 1, marking a potential expansion of its sports streaming portfolio. The move comes on the heels of the success of “F1: The Movie,” Apple’s first major box office hit, which has already grossed over $300 million globally.

According to the Financial Times, Apple is seeking to secure the broadcast rights currently held by Disney-owned ESPN, which pays approximately $85 million per year for exclusivity. ESPN’s exclusive negotiation window expired last year, opening the door for other bidders to enter the fray.

Formula 1’s rising value in the U.S.

Formula 1 viewership in the U.S. has grown rapidly in recent years, driven by heightened cultural interest from projects like Netflix’s “Drive to Survive” and Apple’s recent F1 film. Average viewership doubled from 554,000 to around 1.1 million in 2024, climbing further to 1.3 million viewers across the first ten events this year.

Liberty Media, Formula 1’s U.S.-based owners, hopes this surge in popularity will translate into a more lucrative broadcast deal. Industry insiders predict that the next U.S. streaming rights contract could exceed $121 million annually, representing a significant jump from the current agreement.

Apple’s growing sports ambitions

Apple’s interest in Formula 1 aligns with its recent strategic expansion into live sports streaming. Since 2022, Apple has streamed Major League Baseball games and has secured a ten-year deal with Major League Soccer, further solidifying Apple TV+ as a growing hub for live sports content.

The potential acquisition of Formula 1 rights would not only bolster Apple’s live sports lineup but also integrate seamlessly with its recent cinematic investment. “F1: The Movie,” starring Brad Pitt, is expected to arrive on Apple TV+ later in 2025 following its theatrical run, creating synergy between its original films and streaming offerings.

A competitive bidding landscape

If Apple proceeds with the acquisition, it will directly compete with Disney to secure one of the world’s most valuable sports properties. Formula 1 also offers its own direct-to-consumer streaming service, F1 TV, but securing exclusive broadcast rights would give Apple significant leverage in the highly competitive sports streaming market.

While talks remain in progress, the potential deal highlights Apple’s broader push to diversify its content offerings, attract new subscribers to Apple TV+, and strengthen its position as a formidable player in live sports broadcasting.