By Alex Harrington
Copyright newsweek
It has been reported that Formula 1 and Apple are moving closer to a deal in which the technology brand will take over broadcasting rights in the United States from ESPN after the 2025 season. But according to a recent report from Puck, there are “persnickety deal points,” including how Apple is potentially seeking a non-US component.While the industry is confident that Apple will indeed be replacing ESPN, with the current contract running to the end of this year, this news comes as a substantial change compared to what was already being discussed.Previous coverage believes Apple offered something in the range of $150–$200 million per year for the national rights – well above what ESPN has been paying. Supported by its immense success in the F1 movie, it comes as no surprise to hear of the brand’s success in handling this deal.The movie, released earlier this year, has racked up gross revenue of over $600million, making it leading man Brad Pitt’s most successful production to date, and Apple’s most successful production from their limited selection.Liberty Media’s president and chief executive Derek Chang referenced the company’s approach at the IMG x RedBird Summit on 17 September. While he didn’t name Apple, it certainly fits the bill as he outlined what the company wants from a broadcast partner.”Your ability in the US to have a media partner that can also influence what happens globally is important,” he said”From a Formula 1 standpoint, the US is one of many markets. It’s an important market because of its size. And it’s an important market because, historically, we haven’t penetrated it well. But we have more recently, with the races [in US markets], with shows like Drive to Survive, with the movie, the sponsorships, the licensing deals. … This is almost a 360 sort of concept in terms of how we’re trying to reach into that market, and, of course, the media deal is part of that.”Other points of friction come in the shape of Apple technology. The brand is reportedly pushing for its technology to be utilised in broadcasting.The report read:”But sources have confirmed for me that the deal is happening. The holdup has come from some persnickety deal points, like carving out international streaming rights and reaching consensus on the tech advancements Apple plans to use for its productions.”While no confirmation of this deal has been released, it seems almost certain that it is happening, with a reveal expected to come shortly. In regards to international rights, Sky owns the rights until 2029, which makes an entirely global deal impossible at the moment.
