Comcast-owned Sky has secured its Formula One media rights in the U.K. and Italy, extending the agreements until 2034 and 2032, respectively. The total price for these deals amounts to one billion pounds (approximately $1.34 billion), with the U.K. contract finalized ahead of its 2029 expiration date. This development poses a challenge for Apple, which is seeking to expand its F1 streaming rights beyond the U.S.
Apple's Senior Vice President of Services and Health, Eddy Cue, recently expressed the company's desire to grow its involvement in Formula One. He noted that the sport's media rights are not licensed globally but rather on a market-by-market basis. Despite Apple's success in the U.S., the new deals by Sky may delay any potential expansion into the U.K. and Italy for several years.
The competitive landscape for sports rights may further complicate Apple's ambitions, as other broadcasters may also aim to protect their media agreements. As Formula One continues to gain popularity, the value of its media rights is likely to increase, making it harder for new entrants to secure deals.