Report: Apple is in the Final Stages of Negotiations With F1, but What Happens to F1 TV?

John Ourland reports that Apple is in the final stages of negotiations with F1, and wants F1 to shut down its streaming service F1 TV in the US as part of the deal. Rumors are that Apple would like to announce the agreement at the upcoming U.S. Grand Prix, taking place October 17-19 in Austin. Since last year, rumors have circulated that Apple would pay at least $150 million per year for the US rights, although this figure has not been confirmed. It was also previously reported that ESPN was still interested in Formula 1, but only if it could license select races, rather than the entire season.

Although many claim in their reporting that F1 TV is profitable, and Liberty Media may not want to shut it down, I have not seen the company release any data to confirm this. Liberty Media’s financial reports and earnings calls indicate that F1 TV is experiencing “continued growth in F1 TV subscriptions,” but the company has not provided specific profitability details for F1 TV. (Please correct me with a source in the comments if I am wrong.) F1 could also keep the F1 TV service running in the US, but change the offering by limiting the content just to race archives, or a similar format. A complete shutdown of the F1 TV service in the US may not be necessary to finalize a deal with Apple.

ESPN is giving up its US broadcast rights for Formula 1 at the end of the 2025 season, rights that Apple would acquire if a deal is reached. Halfway through the 2025 season, on July 8th, ESPN announced they were averaging 1.3 million viewers per race, up 7% over the season-to-date average from 2024. One of the most significant problems for any company licensing content is that Formula 1 races occur worldwide, and many take place early in the morning or overnight in the U.S. Outside the US, multiple companies hold the rights.

Sky Sports currently holds F1’s media rights for the UK, Germany, and Italy until at least 2029. And last year, F1 secured a new broadcast deal with BeIN Sports across the Middle East, North Africa (MENA) and Turkey through 2033, extended its contract with Viaplay in the Netherlands and Nordic countries through 2029, and signed a streaming platform, FanCode, in India through 2025. DAZN also acquired F1 rights in Portugal for the next three seasons.