Apple Inc (NASDAQ:AAPL) is in talks to acquire the U.S. rights to broadcast Formula 1 after the success of its movie based on the race car series, the Financial Times reported on Wednesday.
The iPhone maker plans to challenge Disney-ESPN’s current role as the F1 broadcaster in America when the contract becomes available for bidding next year, the FT report said, citing two people familiar with the discussions.
The move comes following the box office success of Apple-produced F1 starring Brad Pitt, the company’s first major theatrical hit since it began producing original content for its Apple TV+ streaming service.
F1 generated just over $300 million at the box office, against a reported budget of between $200 million and $300 million.
Apple’s interest in F1 also comes as the company seeks to gain a greater foothold in the live sports streaming market. The iPhone maker had in 2022 struck a deal with Major League Baseball to broadcast Friday night games, as well as a deal with North America’s Major League Soccer.
F1 is yet to decide on its future broadcasting plans, and ESPN may still retain the rights, the FT report said. ESPN held an exclusive period to negotiate a deal with the car racing series, although that window closed without a deal last year.
