Copyright Variety
For many Americans, Netflix’s “Formula 1: Drive to Survive” was their introduction to Formula 1 when it debuted in 2019. That only grew this year with Apple’s “F1: The Movie,” the Brad Pitt-led feature film that raked in $629 million worldwide. So when it came time for F1 to choose a new streaming partner — their deal with ESPN comes to an end at the end of 2025 after eight years — they had serious conversations with both Netflix and Apple TV. “[Netflix] wanted to explore a few options, but we felt that it wasn’t quite right,” Ian Holmes, F1’s director of media rights and content creation, told Variety at the Grand Prix in Austin. Since Netflix has been leaning heavily into events. With only 24 races a year, a much lower number compared to some other American sports like the NBA (1,200 regular season games) or MLB (2,430 games), some of the ideas didn’t work for F1 — like splitting up the rights, with some races streaming on Netflix and others on other platforms. “A lot of the conversations with quite a lot of the US media steered towards creating packages, which is a lot more common in this market than pretty much anywhere else. We actually looked at splitting into the first half of the season and second half, or we could carve out the sprint races. We went into quite a lot of detail. We went through the whole gambit and tried to keep an open mind about what’s best for the sport,” said Holmes. “Because we don’t have 1000s of hours of content, we broadly thought that if we can have a good contender that wants everything, it might be better than. There are pros and cons of both approaches, so there were quite complex discussions, different discussions, depending on who it was with.” That said, the relationship with Netflix is still a strong one, Holmes, who also serves as an executive producer on “Drive to Survive,” promised. When the deal was being signed with Apple, Holmes says Eddy Cue, Apple’s senior VP of services, was asked about just that. “He said, ‘It’s great, I love “Drive to Survive.” That brings in fans, we benefit. The more that we do, they beneift,'” he explained. “It’s a symbiotic relationship.” The five-year deal with Apple, set for 2026-3031, will take all races that previously aired on ESPN and bring them to the streaming service as part of their $12.99/month subscription. But, “there’s a reason why some races next year will be in front of the paywall,” Holmes notes, aware that not everyone is thrilled to have to pay for another streaming service. Still, the advantage of Apple was a big one, especially with its reach — from Apple News and Fitness to Maps and Music, Formula 1 is excited to work together with the company on new collaborations. Plus, Formula 1 will be promoted inside the physical Apple Stores. As Variety reported, Apple will pay F1 around $150 million per year, valuing the agreement at around $750 million.
