Netflix senses an opportunity: Formula 1 rights could change!

Netflix senses an opportunity: Formula 1 rights could change!

Streaming giant Netflix is ​​planning a bold foray into the world of motorsports as it bids for the US broadcast rights to Formula 1. According to media reports, Netflix could end ESPN's previous dominance in this area. The current rights are with ESPN until the end of 2025, but the rumor mill is churning: According to a report from oe24 ESPN has missed the deadline to renew its contract, which now opens up the opportunity for Netflix and other potential bidders to snap up the broadcast rights.

Particularly interesting is Netflix's successful connection to Formula 1, which has been created since 2019 through the documentary “Drive to Survive”. This series not only increased interest in Formula 1 in the USA, but also reached audiences in new markets, such as Motorsport magazine reported. Netflix could now try to secure the live rights to broadcast the racing action in real time in the coming months. For the streaming provider, acquiring the Formula 1 rights would not only be a win, but also a logical expansion of its sports broadcasts, which already include other media formats in addition to sports such as NFL and boxing.

Fight for rights

The competition doesn't sleep - Apple is also said to be in talks about taking over the Formula 1 rights. Liberty Media has not yet been able to reach an agreement with ESPN for its future contract because an exclusive negotiation clause has expired. This opens up the opportunity for Netflix to expand even further into the US market. Netflix also recently welcomed Kate Jackson, who previously served as ESPN's vice president of production for Formula 1 coverage, to its ranks, underpinning the streaming service's ambitions. The question remains whether Netflix can actually win the race for the rights or whether there are other heavyweights at the table who also have an interest in the premier class of motorsport.