Apple reportedly closing in on US$150m-a-year F1 US rights dealChang says several major markets are nearing completion on broadcast rights

Formula One owner Liberty Media is targeting media rights partners that offer more than just broadcasting races, according to the company’s chief executive Derek Chang.

Speaking at the Goldman Sachs Communacopia and Technology Conference, Chang confirmed that several rights deals in major markets were nearing completion. Apple, in particular, is heavily rumoured to be on the verge of securing the series’ media rights in the US, with the deal reportedly worth around US$150 million per year.

“We announced that we’re doing something with Globo, being back on Globo in Brazil next year,” Chang said. “We announced earlier this year that we had renewed our rights in Canada [with Bell Media]. I think we’ve got discussions ongoing in several of the major markets that we will have clarity to here relatively soon.

“Much like the US, I think this is a holistic sort of view of traditionally what’s been known as your media partner, but I don’t know if it’s necessarily a media partner per se in a classic sense of someone who’s just broadcasting your race. It is someone who can help fans access your content beyond the race.”

Beyond securing lucrative broadcast deals in key markets, Chang outlined that Liberty’s expectations around the partnerships do not end there.

“It is someone who can help your fans interact with even your sponsors,” he said. “It’s all of that. I think the guys that are looking forward and sort of view that as part of their own playbook and what we can do to enhance that for them are ones that we want to try to do business with.”

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Chang’s comments are the clearest indication yet that Formula One is in advanced discussions with Apple in the US, especially in light of the success of its F1 movie. Having now grossed over US$600 million at the global box office, the movie will transition to Apple TV+ over the next couple of months.

Not only will that provide sponsors with an expanded platform to engage with fans through the streaming service, but it also offers Apple the perfect runway to build momentum ahead of the 2026 season.

Chang is also confident that the sponsorship landscape will remain fruitful for the championship, thanks to the efforts of Stefano Domenicali, president and chief executive of Formula One, and Emily Prazer, the series’ chief commercial officer.

“I think that on the sponsor side, this has been an incredible year,” he explained. “Stefano and Emily and their teams have done a fantastic job on multiple fronts.

“One is the continuation of just bringing in new sponsors. Vegas has been a big part of that, and I think it’s been very helpful to that story and to that narrative. I think as we are filling a lot of categories, there are still several that can be filled. I think there’s growth opportunity in terms of existing renewals that are going to happen here over the next several years.

“I think you can see the demand is there – the inventory is kind of tightened in some ways. What you will hopefully see is, even if the names don’t change, it is actually a good thing because having long-term partners who continually have associated with you and continue to invest in that brand association is extraordinarily powerful.

“I think what you’ll see is hopefully people coming in at different tiers where you drive demand and drive pricing, and that in itself will help the monetisation, beyond the continued investment in that brand affiliation that these guys make.”