The jaw-dropping value of F1 US broadcast rights – and why ESPN beat Netflix
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ESPN will pay $75m-$90m per season for three years to renew their deal – meaning the agreement is at least 15 times higher than the existing partnership.ESPN’s current deal with F1, penned three years ago, is worth $5m per season.Click to subscribeNever miss a video from Subscribe to our YouTube channel to get the latest reviews, interviews and moreThe F1 drivers bankrolled by billionaire fathersHow much does each F1 driver earn in 2022?The new contract remains unsigned, SBJ’s report states, but F1 have notified other interested parties (Amazon and Comcast) that an agreement is in place with ESPN.Amazon’s offer was the largest, at $100m per season, the report says.Amazon intended to then sublicence to a linear network, whereas Comcast planned to broadcast via its Peacock service, plus NBC and USA Network.Netflix made an offer to obtain the F1 broadcast rights in the US, but F1 did not want its product solely on a streaming service. In the US currently, each F1 race has a viewership of approximately one million people.The astronomical increase in value speaks volumes about the sport’s newfound popularity in the United States.Related Furious Hamilton lashes out at US abortion law: ‘Disgusted’ The Michael Schumacher record that Lewis Hamilton may never beatNetflix’s Drive To Survive series and the new F1 Miami Grand Prix, which saw celebrities attend in large quantities, are key factors.F1 heads to Silverstone next weekend for the British Grand Prix where Max Verstappen will aim to extend his championship lead while Lewis Hamilton threatens to finally get his season up and running.Related Silverstone to go to court over £8m botched track resurfacing job AlphaTauri retain Pierre Gasly for 2023 F1 season
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