ESPN Decides To Cede Its Formula 1 Rights to Apple
As ESPN prepares for the launch of its direct-to-consumer app this fall, The Worldwide Leader in Sports has continued to expand its content offerings.
Over the last several months, we have seen the network reach a new deal with the Savanah Bananas, purchase a stake in the Premier Lacrosse League, and announce several new streaming programs.
Photo: Scholastic Kids
The goal has clearly been to ensure that the new ESPN streaming app becomes a must-have service for sports fans.
There Have Been Losses
While ESPN has announced several new additions recently, there have also been some notable losses. Perhaps most notably, the network’s longstanding partnership with MLB may come to an end after this season.
Photo: ESPN
Now, the Worldwide Leader in Sports is preparing to cede another rights deal.
ESPN Is Getting Out of the Formula 1 Business
According to a report from Business Insider, Apple has submitted a bid worth at least $150 million to stream Formula 1 races going forward.
ESPN, which currently holds those rights, is reportedly not interested in matching such an offer.
Photo: formula1.com
While Formula 1 remains immensely popular outside the United States and has started to make inroads domestically, ESPN has determined that it is better served spending its money elsewhere. Previously, ESPN revealed that the average Formula 1 race has drawn roughly 1.3 million viewers.
Interestingly, Disney just announced a significant collaboration with F1 a few months ago.
Photo: Disney
For Apple, the purchase adds some much-needed depth to its sports offerings, which also include Major League Baseball and Major League Soccer.
Photo:mediaplaynews.xom
As always, be sure to check back with MickeyBlog. We will continue to update you on all the news coming out of ESPN as the network prepares to launch its new streamer.
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