Race for F1 U.S. TV Rights: Impact on the Sport

After taking over Formula One in 2017, Liberty Media set its sights on the United States to grow the sport, a move that has paid off in a big way. Now, with F1 having three races in America and new interest from American manufacturers like Ford and Cadillac, the sport is more popular than ever.

One major factor in F1’s American success has been the Netflix docuseries Drive to Survive, which premiered in 2019. This show has played a key role in introducing new fans to the sport and keeping them engaged year after year.

Now, as Netflix considers bidding for F1’s U.S. broadcast rights, which are up for renewal soon, the stakes are high. Analysts predict a significant increase from the current rights fee of $90 million per year, which is considered low compared to other countries like the UK.

When F1 moved to ESPN in 2018, it marked a turning point in the sport’s popularity in the U.S. The average viewership has steadily grown, hitting a record high of 1.2 million viewers per race in 2022.

With F1 expanding its presence in America through new races in Miami and Las Vegas, the time seems ripe for a new TV rights deal that reflects the sport’s recent success in the U.S. A bigger fee would benefit not only F1 but also the teams that compete, as media rights are a key source of revenue for them.

Netflix’s interest in broadcasting live sports has been growing, with recent deals like WWE Raw and the NFL games on Christmas Day. F1’s mix of high-speed drama and glitzy events could be a perfect fit for Netflix’s content strategy, especially considering the success of Drive to Survive.

As the race for F1’s U.S. TV rights heats up, fans can expect big changes and hopefully more opportunities to watch their favorite sport in action.