Apple Inc. (NASDAQ:AAPL) is reportedly exploring the acquisition of U.S. broadcasting rights for Formula 1, according to a Financial Times report on Wednesday. The tech giant aims to challenge Disney-ESPN’s current F1 broadcast contract in the U.S. once it becomes available for renewal next year, sources familiar with the matter revealed.
This potential bid follows the strong box office performance of Apple’s Formula 1-themed movie starring Brad Pitt, marking the company’s first major theatrical success since venturing into original film production for its Apple TV+ platform. The film grossed just over $300 million globally, aligning closely with its estimated production budget of $200 to $300 million.
Apple’s growing enthusiasm for Formula 1 ties into its broader strategy to expand its presence in the live sports streaming arena. In recent years, the company has secured broadcast agreements with Major League Baseball for Friday night games and with Major League Soccer in North America.
Formula 1 has yet to finalize its future U.S. broadcasting arrangements, and ESPN remains a contender for retaining the rights. Last year, ESPN had an exclusive negotiation period with the racing series, but no agreement was reached during that window.
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