Netflix Opens the Door to Live Sports

When it comes to sports, Netflix has been steadfast in producing documentaries, but not live content or prerecorded games. 

However, CEO Reed Hastings could make an exception for a single property: Formula 1.

“A few years ago, the rights to Formula 1 were sold. At that time, we were not among the bidders — today we would think about it,” Hastings told Der Spiegel.

Netflix docuseries “Drive to Survive” has been largely credited for F1’s 39% growth in viewership from 2019 to 2021. The show is currently filming its fourth season.

• ESPN holds U.S. broadcasting rights to F1 through 2022. F1 will race in Austin in October and add a stop in Miami in 2022. ESPN hopes to re-up on a long-term deal.
• Sky Sports struck a deal to air F1 in the U.K. from 2019 to 2024 for $1.37 billion. Canal+ holds rights in France through 2024.
• F1 has discussed a broadcasting deal with Amazon.

To stream any other live sport, Hastings says Netflix would require a level of exclusivity that leagues don’t generally offer.

“We don’t own the Bundesliga, they can make deals with whoever they want,” he explained. “But that kind of control would be a prerequisite for us to be able to offer our customers a safe deal.”

The popularity of “Drive to Survive” and Michael Jordan documentary “The Last Dance” has spurred numerous other sports docuseries, including upcoming Netflix-produced series on NASCAR driver Bubba Wallace and the PGA Tour, and a recently released film about former F1 champ Michael Schumacher.