Tech giant Apple reportedly plans to offer $2 billion a year for EXCLUSIVE global F1 broadcasting rights

Apple wants to reach a deal with F1 as soon as possible.

Tech giant Apple reportedly plans to offer $2 billion a year for EXCLUSIVE global F1 broadcasting rights

Liam Lawson at Suzuka (Via IMAGO)

F1 has been racking up huge numbers in fan engagement since the 2021 sports season. The pinnacle of motor racing is in a period of boom, and considering this, several outside parties have recently lined up outside F1 headquarters to come into some kind of collaboration with the sport. The latest to join the esteemed list is tech giant Apple.

It has come to light that Tim Cook and Co. are currently dwelling over offering a whopping $2 Billion a year deal to F1 for its exclusive broadcasting rights going ahead into the future years of the sport. Apple has seen the growth potential of F1 and is willing to go all-in to tap it and make sure that it reaps huge rewards for both parties.

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However, while the Apple group is optimistically looking forward to joining forces with the pinnacle of motor racing, there are a few stumbling blocks that could bring Apple”s charge to a halt. The biggest of them is the fact that several of F1’s current TV deals run for another 5+ years, and this could cause problems in reaching a deal.

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Tim Cook has attended quite a few F1 events and has seemed to have loved everything that goes on during an F1 weekend. Moreover, during last year’s United States Grand Prix at the famous Circuit of the Americas track, he was the man waving the flag at the end of the 56-lap race. His weird waving gig amassed quite a plethora of views in 2022.

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Here is why Apple’s F1 push makes sense

While Apple wants to get in association with F1 as soon as possible, from the long-term point of view, it makes a lot of sense for them. F1’s audience is perfect for them as they are young, huge, and spread worldwide. Moreover, fan engagement with the sport has increased 10-fold since the infamous incident between Lewis Hamilton and Max Verstappen at the 2021 Abu Dhabi GP.

Lewis Hamilton and Max Verstappen (Credits: India.com)
Lewis Hamilton and Max Verstappen (Credits: India.com)

Moreover, the average F1 fan is way younger than some other global sports. NBA. NHL, NFL, and MLB all have global average ages over 42 years, whereas F1’s average age is only 32. Considering this fact, it makes a lot of sense why Apple would want to push hard to reach a deal regarding acquiring the exclusive broadcasting rights of F1.

Formula 1 has been around since the 1950s and has a rich history in the exciting world of motorsports. Over the years, it has produced special moments that are edged in the hearts of die-hard fans for eternity and some exceptional drivers. F1 is on an upward trajectory and it would be great if Apple could join it.

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