Apple Eyes Formula 1 Streaming Rights

According to unconfirmed reports, Apple may offer Formula 1 between $120 and $150 million per year for broadcast rights in the United States,significantly exceeding the current $85 million paid by ESPN.

At the Goldman Sachs conference, Liberty Media CEO Derek Chang indirectly confirmed the negotiations, without naming the company directly, stating: “We have made considerable progress and are pleased with the course of discussions. It is important for us to find a partner who will strengthen our position and ensure effective engagement with their audience. I hope we will be able to make an official announcement soon.”

Liberty Media is reportedly prepared to gradually transition Formula 1 from linear television to streaming platforms, which provide greater access flexibility and a wider variety of formats for viewers.