The media company “Sky” in Germany has the exclusive rights to live Formula 1 reporting until 2024. But that could change abruptly from 2024 – Netflix wants to enter the market.
Streaming service Netflix wants to get into live coverage of Formula 1. This is reported by the online portal “grandprix247”. Accordingly, the contracts between the owner company of the Formula 1 group, Liberty Media, and the currently entitled parties for the transmissions would end promptly.
Netflix is already present in the Formula 1 market. The documentary “Formula 1: Drive to survive” has been available there since 2019. Liberty Media probably wants to redeem around 93 million euros through the sale. Considering the size and growth of the market, buying Netflix presents little risk.
Formula 1 has attracted more and more viewers in recent years. Because there is also a boom in the motorsport premier class on the US market, it is only logical for Netflix to want to secure the rights to the transmissions.
Sky has the exclusive rights to Formula 1 in Germany until 2024. It is quite possible that the rights will be lost by entering the Netflix market. RTL also has to be careful, as the private broadcaster is currently allowed to broadcast four races live per season.