Apple Wins Formula One US Streaming Rights, Besting ESPN
Apple Inc. has secured the exclusive television rights to Formula One races in the United States, outbidding the current rights holder, ESPN. This deal is part of Apple's ongoing efforts to expand its sports streaming portfolio, which already includes Major League Soccer and Major League Baseball. The agreement, which is set to begin in 2024, will grant Apple the ability to stream all Formula One races, qualifying sessions, and practice sessions exclusively in the US market. This move is seen as a strategic play by Apple to attract more subscribers to its streaming service, Apple TV+, and further establish its presence in the live sports broadcasting arena. The financial details of the agreement have not been disclosed, but the deal is expected to be a significant investment for Apple as it seeks to capitalize on the growing popularity of Formula One racing in the United States.
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