P1racenews AI automatic summary:
Streaming giant Netflix is looking to secure broadcast rights for Formula 1 in the USA, adding to its long-standing involvement in the sport.
Since 2019, the organization has been connected with F1 through its series Drive to Survive, which is set to launch its seventh season soon. The show’s dramatic storytelling has drawn in a new generation of fans by blending on-track action with off-track narratives and interviews with drivers and team bosses. Autosport announced that the company plans to expand its F1 partnership by introducing live broadcasting in the US, currently held by ESPN. While ESPN paid $5 million per year until 2022, reports show a fee increase to $90 million, causing other potential broadcasters to join the competition. Netflix has been expanding its live broadcasting portfolio, securing rights to major sports events like the Women’s World Cup, a historic boxing match, and WWE in a $5 billion deal. With the addition of former ESPN vice president Kate Jackson, Netflix is poised to potentially change the broadcast model for F1 in the US, without affecting existing agreements like with Sky Sports F1 in the UK, which is set to continue for the next four years.
