Apple, F1 preparing to announce rights deal
Apple, F1 preparing to announce rights deal
The two sides are reportedly aiming for the US Grand Prix on Oct. 19 to announce their agreement.
The next Formula 1 media deal is having a bit of trouble getting off the starting line. The deal to sell American broadcast rights to F1 was reportedly all but complete in July, but no official announcement has been handed down. Thanks to a new report, we now have a pretty concrete hint about what’s happening between Apple and F1, and when fans can expect official word from the two sides that their deal is official.
Key Details:
- Not long now: F1 and Apple will reportedly announce their deal officially at the U.S. Grand Prix on Oct. 19.
- F1 TV in the balance: The fate of F1 TV has held up the announcement until now.
- Nice price jump: F1 will make $140 million per year for its rights.
According to John Ourand of Puck News, Apple and F1 are planning to announce their broadcast deal officially at the U.S. Grand Prix in Austin, which will take place on Sunday, Oct. 19. The stateside race is the perfect venue for consummating a new deal for American broadcast rights.
Ourand says that most aspects of the deal have been decided for some time now. Apple will pay $140 million per season to stream races in the United States, which is a major increase for the league from the $90 million per year that it received from ESPN to broadcast races.
The sticking point in getting the deal in front of the public has been the eventual future of the F1 TV direct-to-consumer service, according to Ourand. F1 has been reluctant to shut down the service, whereas Apple didn’t really feel too enthused about paying almost $150 million per year to share domestic F1 rights.
Ourand reports that it’s “not entirely clear” where the issue landed between the two sides, so the fate of F1 TV might not be known until the two sides officially announce their deal. The Streamable can foresee a future where Apple itself takes over F1 TV, but all options are seemingly on the table for the platform as of now. It would be a surprise if F1 was able to continue F1 TV without making any changes — a company like Apple doesn’t get strongarmed all that often — but we’ll just have to wait and see.
Regardless, it appears that resolution is finally around the corner for F1 and Apple. The two sides appear poised to announce their new broadcast deal in the coming weeks and have reportedly circled the U.S. Grand Prix on Oct. 19 as the day to make their new partnership public.
Apple TV
Apple TV (formerly known as Apple TV+) is a subscription video streaming service for $14.99 per month, offering a growing slate of original series, films, documentaries, and specials. Unlike other platforms that combine licensed titles with originals, Apple TV is built entirely around exclusive programming, making it the home of critically acclaimed hits such as “Ted Lasso,” “Severance,” “The Morning Show,” and “Silo.” Its lineup continues to expand with award-winning dramas, comedies, family-friendly shows, and blockbuster original films like “CODA,” which won the Academy Award for Best Picture.