Apple keeps looking for ways to diversify its company as sales of the iPhone continue to decline. The MLS Season Pass has been a huge hit for Apple this year. As a result, they are currently searching for worldwide Formula 1 streaming rights. They already have involvement in an F1 project including Lewis Hamilton and Brad Pitt.
After the MLS Season Pass’s success, Apple started to pay attention to Formula 1
The league and its importance were radically altered by Lionel Messi’s entry. By seizing control of its streaming rights, Apple made money. F1 will probably coexist with the MLS Season Pass and the standard Apple TV+ if this proposal is accepted.
Currently, global Formula 1 streaming is divided. Apple won’t be able to expand internationally until at least 2029. ESPN currently has the F1 rights in the US through 2025. When that agreement expires, the Apple agreement is meant to begin.
Many of the current contracts go through 2029, even then. As a result, Apple will have to wait at least five years to obtain the worldwide streaming rights to Formula 1.
Apple currently intends to offer a staggering $2 billion per year for the rights to stream Formula 1 globally. Additionally, they are considering a 7-year first contract beginning in 2025, with the option to go totally global starting in 2029.
Apple already has a sizable Formula 1 project in the works, aside from the potential for Formula 1 streaming rights. The Lewis Hamilton-produced film starring Brad Pitt is now under production.
Brad Pitt and Lewis Hamilton do possess star power. Due to Red Bull’s dominance in 2023, Formula 1 streaming and Internet numbers have plummeted. If this keeps up, Apple would not seem to regard the acquisition as highly as it does right now.
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