Netflix to bid for F1 TV rights
The streaming giant could be the new home of Formula One in a deal that could also extend to Australia.
Netflix could be the new home for Formula One live coverage in the United States in a deal that could also impact Australia.
Motorsport.com reports that the streaming service has entered the bidding process for live broadcast rights for the sport from 2026 onwards.
ESPN, the current rights holder, has reportedly let the exclusivity period expire to discuss new terms to continue their broadcast.
Netflix became a player in Formula 1 with the release of Drive to Survive, documentary series, the seventh series of which is due to be released on March 7.
This year's Drive to Survive is reportedly the last year for which Netflix has a contract to produce, with a similar series based on the F1 Academy to be released later this year.
The streamer has been dipping its toe into the live sports market with the Mike Tyson v Jake Paul match the most-streamed sports event of all time according to Netflix data. This was followed by two NFL games broadcast globally on Christmas Day, as well as a US $5 billion deal to stream the WWE for the next 10 years.
ESPN set records in 2022 with the most-viewed F1 championship ever in the United States. The US broadcaster generally uses the Sky Sports F1 coverage but has produced its own events for races such as Austin, Mexico City and São Paulo.
Complicating matters is the F1TV streaming service, which is also available direct to customers in the United States. ESPN benefitted from terrestrial and cable television coverage, something which would not be possible in a deal with Netflix.
Motorsport reports that Netflix is expected to produce its own coverage should it win the rights, leading to a third English-language option alongside Sky Sports and F1TV.
While Sky UK has a deal in place until 2029, it could also impact the broadcast situation in Australia.
The Australian rights from 2026 are also believed to be available, with Fox Sports currently holding the broadcast rights to every race except the Australian Grand Prix, which is shared with Network 10.
The Foxtel Group, which owns Fox Sports and streaming service Kayo, was recently sold to DAZN in a goliath $3.4 billion deal.
DAZN broadcasts Formula 1 in Japan, Spain and Andorra, and Portugal, however those deals are also due to be refreshed for the 2026 season.
The negotiations could therefore be a two-horse race in multiple territories between Netflix and DAZN to be the global home of Formula 1.
It's an interesting proposition for Australian fans, who do not currently receive a localised broadcast despite the high level of engagement in the sport, with drivers Oscar Piastri and Jack Doohan to contest the 2025 season.
While neither Netflix or DAZN are guaranteed to produce localised coverage, Netflix would likely be interested in providing a global English-language feed, while DAZN may be interested in a global feed with localised magazine coverage.
Formula 1 will be interested in expanding F1TV to regions like Australia where it is not currently available, but it is unclear how this will operate alongside exclusive coverage on a competing streaming app.
