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Rumours are swirling that Netflix is the lead contender to win the multi-year broadcasting rights for F1 in the US. This is arguably the streaming giant's biggest move into live sports so far.
Disney, through ESPN, is the current rights holders, but it seems they have stepped out of the running. In 2022, ESPN signed a three-year broadcasting deal worth between $75 and $90 million a year. Before 2022, ESPN was only paying $5 million a year!
One of the reasons for the 1 500% price hike on the broadcasting rights is the popularity of Netflix's Drive to Survive series, which made F1 a mainstream sport again. Given that Netflix can claim some of the glory for F1's revival, it only makes sense that they become the live broadcaster too.
