Netflix plans to buy the rights to broadcast Formula 1

Netflix plans to buy the rights to broadcast Formula 1

      Streaming service Netflix plans to acquire the rights to live broadcasts of Formula 1. The management of the service is interested in broadcasting races in the United States. At the moment, the rights to show Formula 1 in the U.S. belong to ESPN and cost the channel about $90 million a year. According to The Times, ESPN has expired, during which it was possible to extend the rights on an exclusive basis, and now in the competition for the purchase may participate third parties, which includes Netflix.

      The FOM has no plans to sell worldwide rights to Formula 1 broadcasts to Netflix, but the streaming service could bid for the rights in individual countries, not just the U.S., which would increase the cost to broadcasters.

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Netflix plans to buy the rights to broadcast Formula 1

Streaming service Netflix plans to buy the rights to live Formula 1 broadcasts.