Apple’s Formula 1 Bid Plays Long-Game For TV Sports Rights
The post Apple’s Formula 1 Bid Plays Long-Game For TV Sports Rights appeared on BitcoinEthereumNews.com. ABU DHABI, UNITED ARAB EMIRATES – DECEMBER 08: Tim Cook, CEO of Apple, walks on the grid prior to … More the F1 Grand Prix of Abu Dhabi at Yas Marina Circuit on December 08, 2024 in Abu Dhabi, United Arab Emirates. (Photo by Mark Thompson/Getty Images) Getty Images Apple TV+ will likely win Formula 1’s U.S. broadcast rights, according to a report from The Athletic. That fact isn’t so surprising given the backdrop of Apple Original Films’ F1: The Movie racing to theaters this summer. But the rumored (per The Athletic) $120-150 million per year bid is still a significant step up from ESPN’s current $75-90 million rate, and indicative of what Apple’s willing to pay in its slow-but-steady quest to reshape sports rights. Apple’s Sports Approach To-date, Apple hasn’t been as splashy as streaming cohorts like Amazon Prime Video and Netflix when it comes to sports. But its investments have still generated attention via their perceived niche focus. Right now, Apple TV+ airs all Major League Soccer matches as part of a $2.5 billion, 10-year deal. The service also airs Friday Night Baseball for $85 million per. Both deals could be evaluated as potential overpays relative to what legacy media companies were willing to spend on those rights. But that’s an understood part of doing business anytime you’re the perceived “upstart” in a space. You’re paying more to become a proven commodity. Where Apple’s zigged a bit in that regard while Amazon Prime and Netflix has zagged, though, is in regard to what the service is paying those larger sums for. There’s little data out there around Apple TV+ subscribers or audience, but it’s fair to guess that Friday Night Baseball’s audience is no more than half of Fox’s Saturday night MLB slate (an average of 2.14 million…
The post Apple’s Formula 1 Bid Plays Long-Game For TV Sports Rights appeared on BitcoinEthereumNews.com.
ABU DHABI, UNITED ARAB EMIRATES – DECEMBER 08: Tim Cook, CEO of Apple, walks on the grid prior to … More the F1 Grand Prix of Abu Dhabi at Yas Marina Circuit on December 08, 2024 in Abu Dhabi, United Arab Emirates. (Photo by Mark Thompson/Getty Images) Getty Images Apple TV+ will likely win Formula 1’s U.S. broadcast rights, according to a report from The Athletic. That fact isn’t so surprising given the backdrop of Apple Original Films’ F1: The Movie racing to theaters this summer. But the rumored (per The Athletic) $120-150 million per year bid is still a significant step up from ESPN’s current $75-90 million rate, and indicative of what Apple’s willing to pay in its slow-but-steady quest to reshape sports rights. Apple’s Sports Approach To-date, Apple hasn’t been as splashy as streaming cohorts like Amazon Prime Video and Netflix when it comes to sports. But its investments have still generated attention via their perceived niche focus. Right now, Apple TV+ airs all Major League Soccer matches as part of a $2.5 billion, 10-year deal. The service also airs Friday Night Baseball for $85 million per. Both deals could be evaluated as potential overpays relative to what legacy media companies were willing to spend on those rights. But that’s an understood part of doing business anytime you’re the perceived “upstart” in a space. You’re paying more to become a proven commodity. Where Apple’s zigged a bit in that regard while Amazon Prime and Netflix has zagged, though, is in regard to what the service is paying those larger sums for. There’s little data out there around Apple TV+ subscribers or audience, but it’s fair to guess that Friday Night Baseball’s audience is no more than half of Fox’s Saturday night MLB slate (an average of 2.14 million…
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