Netflix set to challenge ESPN for Formula 1 broadcast rights

Streaming behemoth Netflix, the home of the wildly popular Drive to Survive docuseries on Formula 1, is reportedly gearing up to enter the race for the sport’s U.S. broadcast rights.

ESPN's current three-year contract, a continuation of their partnership dating back to 2018, expires at the end of this season.

While ESPN and F1 management began discussions late last year about an extension into the 2026 rules era, no agreement has been reached.

Crucially, an exclusivity clause that prevented F1 from negotiating with other broadcasters has now lapsed, opening the door for rivals like Netflix to make their play.

A Timely Strategic Move

According to a report by The Times, Netflix is emerging as one of the leading candidates to secure Formula 1’s U.S. broadcast rights.

This potential move wouldn’t be entirely out of character for the streaming service, which has been steadily expanding its live sports portfolio.

Thanks to its hit series Drive to Survive, Netflix already enjoys a close connection with the world of Formula 1, making a foray into live F1 coverage seem like a natural next step.

Adding fuel to the fire is Netflix’s recent strategic hire of Kate Jackson – formerly ESPN’s vice-president of production – as its new director of sports.

This move underscores the company’s ambition to become a serious player in the live sports arena.

It follows in the wake of several high-profile sports deals: Netflix secured rights to broadcast two NFL games over the Christmas period, bagged the U.S. broadcasting rights for the 2027 and 2031 Women’s Football World Cups, and even delivered the biggest streamed sporting event ever with its coverage of the Mike Tyson-Jake Paul boxing match last November.

Netflix’s Financial Muscle

Netflix certainly has the financial muscle to compete for F1, even if the rights fee exceeds the estimated $90 million per season ESPN is currently paying.

However, one potential hurdle for Netflix, and other streaming contenders like Amazon and Apple, is F1's preference for regional rights deals.

This strategy allows for greater flexibility and profit maximization, but it prevents global streaming companies from securing worldwide coverage.

For example, any U.S. deal Netflix secures wouldn't interfere with Sky Sports' exclusive UK rights, which run until 2029.

The prospect of Netflix becoming a major F1 broadcaster is tantalizing. Their expertise in storytelling and production, combined with the sport's growing appeal, could create an unparalleled viewing experience.

Whether the streaming platform crosses the finish line first remains to be seen, but their presence in the race has definitely raised the stakes.

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