Netflix wants to secure Formula 1 rights
Sky holds the TV and live broadcasting rights for Formula 1 for the current and next season. The station has the exclusive rights and broadcasts training, qualifying and all upcoming races. In addition, there is currently an agreement with the TV broadcaster RTL, which is allowed to broadcast four races free of charge on television in the last and current seasons. Now, however, a new prospect comes into play. Accordingly, Netflix is said to be interested in securing the necessary rights to be able to broadcast the Formula 1 races live from 2024. Until then, the company that owns Formula 1, Liberty Media, will renegotiate the broadcasting rights.
That’s why Netflix has an interest in the rights
But where does Netflix’s interest in Formula 1 rights come from? According to the GIGA, this could have two reasons that also seem to be related. First of all, the topic of Formula 1 is nothing new for the streaming service. He has already shown four seasons of the documentary series “Formula 1: Drive to Survive”, which offers viewers exclusive insights into the world’s largest car racing competition and the people behind it. The second and probably more important reason is that interest in Formula 1 is increasing in the US market.
Netflix series brings Formula 1 closer to US audiences
So far, Formula 1 and the US audience, which tends to follow IndyCar and NASCAR races, have been strangers – and that’s despite repeated attempts to establish the popular motor sport on the important US market as well, SPIEGEL explains . The Miami Grand Prix is celebrated and sold overseas as a huge event. In addition, the US racing legend Michael Andretti would like to enter Formula 1 with his own team. In a significant part, Formula 1 also owes this rise in popularity to the previously mentioned Netflix documentary series. The streaming service has managed to engage US audiences with background information, pit history and rivalries between drivers.
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