Apple is considering the possibility of making large financial investments in the organization of the Formula 1 World Championship in track racing, with the aim of subsequently obtaining the exclusive right to broadcast various stages of the sports event. In this respect reports The 9to5Mac publication cites data from industry magazine Business F1.
According to Business F1, Apple plans to invest up to two billion dollars a year in Formula 1. The American IT company wants to become the exclusive partner of the race with regular investments and broadcast it on the Apple TV+ online cinema. The company expects this model to bring many new subscribers to Apple TV +.
Business F1 notes that even if Formula 1 management and Apple agree, this does not mean that next season will be broadcast only on Apple TV +. The truth is that the organizers have several ongoing media deals that will only expire in 2020.
In the US, Formula 1’s exclusive contract with ESPN will expire in 2025. According to Business F1, Apple will be the race’s next media partner. It is reported that the IT giant will try to obtain exclusive rights in the USA for at least seven years.
Apple’s previous ambitious project came stalemate.