Apple looks to bid on becoming US home for Formula 1

A significant shift in the U.S. streaming landscape for Formula 1 may be on the horizon as Apple is reportedly in discussions to acquire the broadcasting rights. This move aligns with Apple's strategy to deepen its investment in live sports, as detailed by the Financial Times. Currently, Apple has secured agreements for Major League Baseball and Major League Soccer, but it faces stiff competition. The contract ESPN holds for F1 is set to expire next year, opening the door for new bidders like Apple. This development comes on the heels of Apple's successful venture into F1-themed entertainment, highlighted by the release of a new film produced in collaboration with F1 star Lewis Hamilton, which has garnered considerable attention at the box office. The excitement surrounding F1 is palpable, particularly since Netflix's documentary series "Drive to Survive" helped propel the sport into the American mainstream in 2019. Since then, viewership of live races has seen a notable uptick, especially among younger audiences, including a significant increase in female viewership. As Apple expands its portfolio, the tech giant is positioned to play a pivotal role in the future of Formula 1 broadcasting in the U.S. However, it remains to be seen how the bidding will unfold against established competitors like ESPN.