A fierce battle has erupted over the broadcasting rights of Formula 1. The premier class of motorsport has gained enormous popularity in the United States in a short period of time and that is why Netflix, Amazon, ESPN and NBCUniversal are fighting each other for the broadcast rights. get hold of.
Formula 1 has welcomed many new American fans in recent years. The sport has grown strongly in the United States, partly due to the Netflix series Drive to Survive and the arrival of the Miami Grand Prix. Next season, the Las Vegas Grand Prix will also be added, making it all the more interesting for media conglomerates to make an offer for the broadcasting rights. Through this season, these rights are held by ESPN, which is owned by Disney. However, the television network will face competition from Netflix, among others, reports Business Insider†
ESPN has an expiring contract with F1
ESPN has held the broadcasting rights to Formula 1 in America since 2017, but the television company has to dig deep into its pockets to be able to broadcast the premier class races in the near future. The contract expires after this season and the asking price has risen sharply. ESPN has reportedly made an opening bid of $70 million for the rights beginning in 2023, an amount more than ten times higher than the current rate ESPN is paying. This has everything to do with the rising popularity of the sport in the United States. For example, the Monaco Grand Prix was seen by 1.4 million people, an increase of 43 percent compared to the 2021 edition.
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Netflix is hunting for Formula 1 broadcasting rights from 2023
Due to the rising popularity, ESPN will have a big job to keep the broadcast rights. Netflix has also been in talks with Formula 1 for months to get the broadcasts on the streaming platform. Netflix has single-handedly contributed to the success of the sport in America with the series Drive to Survive and now wants to bring the sport on board in its entirety. This would fit in perfectly with the new subscription form that the streaming platform will most likely introduce at the beginning of 2023. This also fits into the vision of the future of Netflix, which wants to offer more live content to the viewer.
More privateers on the coast
However, there are more privateers on the coast. In addition to ESPN and Netflix, Amazon and NBCUniversal are also attempting to acquire the Formula 1 broadcasting rights by 2023. The latter also broadcast the premier class of motorsport in the past, between 2012 and 2017, but subsequently lost the rights to ESPN. According to Business Insider there is still plenty of room for negotiation for all parties, as the opening bid of $70 million is still far below the 100 million that Formula 1 is currently aiming for.
Can you watch Formula 1 in the Netherlands via Netflix?
Should Netflix manage to acquire the rights to Formula 1, does this mean that a new alternative will appear on the Dutch market next to Viaplay and F1 TV? Probably not. In the event of a possible acquisition, Netflix will only acquire the rights for the American market and is therefore not allowed to offer its broadcasts in the Netherlands. In the Netherlands, the full rights are reserved exclusively for Viaplay.
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