The popularity of Formula 1 is growing in the United States, and many suitors may be in search of broadcasting rights.
Citing anonymous sources familiar with the matter, Business Insider It was reported over the weekend that U.S. rights were created for top motorsports teams and that Amazon, ESPN, NBCUniversal and Netflix were all among the plaintiffs.
ESPN has held the rights since 2017 and before that it was NBCUniversal.
According to insider sources, F1 is aiming for $ 100 million for the rights. Although still much lower than other major U.S. sports commands, ESPN reportedly submitted an opening bid of around $ 70 million.
2022 Formula 1 Monaco Grand Prix
Netflix has made a lot of sense due to its global reach and the popularity of its own “Drive to Survive” series which has confirmed two more seasons to cover the 2022 and 2023 F1 World Championships, a series that has been instrumental in increasing F1’s popularity. In the United States
After losing nearly 200,000 in the first quarter of the year, a move to sports and other live events could help Netflix attract new customers. Netflix co-CEO Ted Sarandos said during the first quarter earnings call that Netflix was open to live-streaming events, assuming revenue growth and profits supported it.
Rival streaming services have already been transformed by Amazon and Apple, Apple recently signed a deal with Major League Baseball and snatched Amazon’s “Thursday Night Football” from the NFL.
Note, F1 has its own app that lets you stream sports. Access costs 79.99 per year.