Apple is looking to bolster Apple TV Plus with streaming, and sports seem to be the focus. The company has picked up MLS streaming rights already, which is going well, and also attempted to get NFL Sunday Ticket streaming rights. The next move appears to be Formula 1, as Apple is reportedly gunning to bid for F1 streaming rights.
According to a report in Business F1 Magazine (via GP Blog), Apple has set its sights on Formula 1, and is currently considering making an offer for the streaming rights for the sport on Apple TV Plus. The offer is being called one that the Formula 1 Group “cannot refuse.”
Apple wants F1 streaming rights with an F1 film already in the pipeline
Apple already has an F1 film in the works, and it appears Apple wants more. The new report notes that Apple is willing to pay a huge amount, to the tune of $2 billion a year, which would be roughly twice what the global TV rights currently fetch.
The deal will apparently have increased exclusivity obver the years. Apple is likely to pay a fixed amount of money for seven years. The deal would kick off with 25 percent exclusivity, and go up to 100 percent after five years. The five-year limit is because of existing contracts, which don’t expire until then, which means Apple can’t get exclusive streaming rights until that point.
In the meantime, Apple is also working on its F1 film, which will star Brad Pitt and Damoson Idris. Pitt will drive a Mercedes-designed car and play the role of an F1 racer who comes out of retirement.
So, it looks like there’s about to be a lot of F1 content coming to the best Apple TV devices. There’s no timeline on when the deal could go through for Formula 1 streaming rights, but it’s possible that it would be in time for the 2024 season.