F1 CEO defends Apple TV+ partnership amid criticism

Formula 1 caused quite a stir when it announced its collaboration with Apple TV+. Some investors went as far as calling it a disaster, but F1 CEO Stefano Domenicali sees it as a stroke of genius. After their team-up for F1 The Movie, Apple snagged the broadcasting rights for the next five seasons starting in 2026.

Apple has come a long way from just making iPhones. They’ve been diving into sports broadcasting, including baseball and the MLS. Snagging Formula 1 is a big win for the tech giant. However, some critics worry that moving from ESPN to Apple TV+ might limit viewership.

But Domenicali sees the bright side. Defending the deal, he highlighted the $750 million Apple reportedly paid for the rights. He believes that Apple’s vast reach and promotional channels will bring F1 to a younger audience in unconventional ways.

In a call with Liberty Media investors, media analyst Peter Supino shared feedback from some investors who were less than thrilled with the deal. However, Domenicali remains optimistic. He sees Apple leveraging platforms like Apple News, Apple Maps, Apple Music, Apple Sports, and Apple Fitness+ to boost awareness of F1 in the American market.

Domenicali reassures the F1 community, stating that this move is a fantastic opportunity that will lead to increased revenue and market awareness in the US. He sounds confident that this partnership is the right move for the sport.

So, while some may have doubts, Domenicali believes that great things are on the horizon thanks to this collaboration with Apple TV+.