Apple is poised to win the rights to stream F1 races in the US. ESPN is bowing out.

Apple is in advanced negotiations to acquire streaming rights for Formula 1 races in the United States starting in 2026. Currently, ESPN holds these rights but is not expected to match Apple's bid of at least $150 million annually. This move marks Apple's third sports streaming deal, complementing agreements for professional baseball and Major League Soccer. The growing interest in F1 in the US has been influenced by Netflix's "Drive to Survive" docuseries, which has significantly increased viewership figures, now averaging 1.3 million per race, up from 2018's levels.

Apple has submitted a bid worth at least $150 million a year to stream the races starting in 2026. ESPN isn't going to try to match that.

Formula 1 has traditionally been very popular outside the US, and more or less unknown inside America. That started to change with Netflix's "Drive to Survive" docuseries.

ESPN says the average F1 race generates about 1.3 million viewers - more than double what it was doing in 2018. ESPN appears to have concluded that it can spend its money more effectively elsewhere.

Read at Business Insider