The long-gestating streaming rights deal between Apple and Formula 1 is apparently reaching the finish line. In his newsletter, Puck’s John Ourand reports that the two sides have nearly finalized negotiations, with an eye to announce the partnership at the upcoming U.S. Grand Prix on 17-19 October, held in Austin.
Apparently, the protracted discussions relate to a dispute over the existence of the independent F1.TV streaming service in the United States. Perhaps unsurprisingly, Apple — who would be paying upwards of $150 million a year for the rights — wants streaming exclusivity and therefore F1.TV to be shuttered in the region.
However, the service is profitable for F1 and is widely beloved by hardcore fans, with seemingly low rates of cannibalisation compared to the audience that (up to now) watched on ESPN. Apparently, the discussion on this point has gone back and forward between the parties a few times, which explains why it is taken so long for the deal to be signed on the dotted line.
It’s also currently unclear what the outcome of the negotiations were, as far as F1.TV’s future in the United States is concerned. (In some international markets, F1.TV is similarly unavailable due to deals with local rights holders.)
As a reminder, ESPN is giving up its US broadcast rights for Formula 1 at the end of the 2025 season. Apple would take over, presumably offering F1 as an add-on through the Apple TV app, from next year. This would see Apple offer a trio of streaming sports packages; MLS Season Pass, MLB Friday Night Baseball and the new F1 service.
Assuming it all goes to plan, we should have an official announcement later this month.
… And yes, it was at the Austin Grand Prix about this time three years ago that Tim Cook infamously waved the checkered flag with his own trademark brand of enthusiasm.
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