Apple has invested heavily in its digital streaming service Apple TV+ in recent years. In addition to exclusive content, it acquired the broadcasting rights of MLS and MLB leagues in the USA. However, it is claimed that the company is more interested in the world of sports. According to this Apple is the sole broadcaster of Formula 1 races Ready to make a big offer to be.
Will Formula 1 races be only on Apple TV+?
It has been reported that Apple is pumping for Formula 1 races. According to sources with knowledge of the talks, the company Formula 1 races and their content global broadcasting rights to get 2 billion dollars a year wants to pay.
If this deal is successful, it will make Formula 1 one of the most expensive categories in sports broadcasting. The tournament is currently worldwide from existing broadcast agreements approximately $1 billion is winning. However, Apple may be ready to acquire all the rights for $2 billion.
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Apple reportedly proposed an innovative approach to the deal structure. Accordingly, the company will start with approximately 25 percent of the broadcasting rights in the first stage. This rate will increase as contracts with other media organizations expire. Apple in 5 yearswill control the entire Formula 1 digital distribution.
The most surprising part of the offer is that Apple is making a fixed offer. It was claimed that the deal would be fixed at $2 billion per year for 7 years. This will provide significant stability in Formula 1’s annual revenue.
If the massive offer is true, it shows that Apple is increasingly focusing on sports streaming for Apple TV+. The company, which currently owns MLB and MLS broadcasting rights, also produces F1 documentaries.
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