Wednesday December 6, 2023

Netflix Gearing Up for Formula 1 Rights Push

  • Netflix is looking to make its first foray into live sports.
  • The company is competing with ESPN, Amazon, and NBCUniversal for U.S. Formula 1 rights.
John David Mercer-USA TODAY Sports
Copy Link
Link Copied
Link Copied

Since its founding, Netflix has eschewed acquiring rights to live sports — until now.

The global streaming leader is reportedly among those competing for Formula 1’s U.S. broadcast rights, according to Business Insider. 

Disney-owned ESPN hopes to retain the rights, which expire this year. NBCUniversal and Amazon are also in the mix for the global racing series that has exploded in popularity, in part due to Netflix’ hit docuseries “Drive to Survive.”

  • ESPN submitted an initial bid of $70 million per year.
  • F1 parent Liberty Media is seeking a contract around $100 million annually. 

F1 has a growing presence in the U.S., with Miami joining Austin as a Grand Prix site in May and Las Vegas coming next year. Miami’s inaugural race drew 2.6 million average viewers on ABC, the highest-ever figure for a U.S. broadcast.

Netflix’ Gear Shift

Netflix, which lost subscribers for the first time in more than a decade over the first quarter, plans to introduce an ad-supported user tier next year. While the slip has caused consternation across the streaming industry, Liberty Media CEO Greg Maffei seems undeterred. 

“It is interesting how the world fragmented with cable households, and how many there are compared to Netflix households and [Amazon] Prime households,” said Maffei prior to the Miami Grand Prix. “The idea that the broadest audience is on cable — that’s becoming a lot less clear.”

Netflix had 221.6 million subscribers at the end of Q1, including 74.6 million in the U.S. and Canada.

Copy Link
Link Copied
Link Copied

What to Read

ESPN Stephen A. Smith

Stephen A. Smith to ESPN: ‘I Want To Be Highest-Paid Talent’

With a No. 1 show, Stephen A. Smith wants to become number one in compensation.
The Australia men's cricket team celebrating winning the 2023 ICC Men's Cricket World Cup.

Amazon Secures ICC Cricket Broadcast Media Rights in Australia

Prime Video will be Australia's exclusive home for ICC events through 2027.
Dallas Cowboys quarterback Dak Prescott throws a pass during the first half against the Seattle Seahawks at AT&T Stadium.

Amazon Bounces Back With Record Viewership

The Dallas Cowboys’ win over the Seattle Seahawks averaged 15.26 million viewers.

TV Networks Are Programming College Football’s Future: What’s Next

Conference championship weekends will have a different feel in the future.
podcast thumbnail mobile
Front Office Sports Today

NCAA Opens Door to Athlete Compensation


Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? "AG’s Office Has Not Expressed Interest In Pursuing"

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference's future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers

Seminoles’ CFP Snub Opens New Front in Disney vs. Florida War

Florida lawmakers are already considering legislation to protest the College Football Playoff's exclusion of Florida State.
Peyton Manning on the ManningCast
December 4, 2023

ESPN’s ManningCast Goes Double: Two MNF Games, Two Brothers, One Epic Show

Peyton and Eli Manning will call two “Monday Night Football” games at the same time on Dec. 11 as ManningCast expands across ESPN.
English Premier League teams Leeds United and Brighton Hove & Albion in action during a match.
December 4, 2023

Premier League Reasserts Dominance With $8.5B Domestic Rights Deals

Deals achieve small rights fee increase for top European league.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
December 1, 2023

Formula 1's Growth Hits A Speed Bump With U.S. Viewers

Races on ESPN were down 8% from 2022.
December 1, 2023

Would Disney's ESPN Walk Away From The NBA?

Will financial pressures impact the company's decision with a longtime partner?
Detailed view of the new In-Season Tournament court before the game between the New Orleans Pelicans and the Dallas Mavericks at the Smoothie King Center.
November 30, 2023

New Orleans Pelicans Reportedly Headed For Local Television

The Pelicans could air games on over-the-air channel Fox 8.
November 30, 2023

PFL, ESPN Agree on New Multiyear Broadcast Rights Deal

ESPN+ PPV will be the home of the PFL’s new Super Fight Division.