Today, content platforms are pursuing popular sports tournaments as well as standard types of content. Billions of dollars are now flying around for these tournaments that bring in a significant amount of viewers.Billion dollar bid for Formula 1
Apple, which purchased the US football MLS broadcasting rights for 2.5 billion dollars in the past period, doubled the number of subscribers after Messi was transferred. Now he has pursued the world-famous Formula 1 races.
According to information received, negotiations are underway for a 7-year broadcast agreement between Apple and Formula 1. In return for this agreement, which will be worth $2 billion annually, the global broadcasting rights of Formula 1 races will pass to Apple. It is stated that this figure is almost twice the annual income of the Formula 1 group from broadcasting rights.
This agreement includes a timing clause that varies by country. For example, in the USA, ESPN has the broadcasting rights for Formula 1 until 2025. The Apple agreement and payments will come into effect after this date. It is expected that all global broadcasting rights will be transferred to Apple within 5 years.
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