From Silicon Valley to the Grand Prix
Why Apple wants F1 (and what F1 gains)
Thank you for being here. You are receiving this email because you subscribed to Idée Fixe, the newsletter for curious minds. I’m Toni Cowan-Brown, a tech and F1 commentator. I’m a former tech executive who has spent the past five years on the floor of way too many F1, FE, and WEC team garages, learning about the business, politics, and technology of motorsports.
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I took a few much-needed weeks off, but I’m back with another deep dive into the business and media side of Formula 1. I’m also looking at a new format for this newsletter to ensure I get you all the latest, not just my deep dives.
When I previously explored F1’s ambition to become “America’s next sports”, I raised two fundamental questions: what will the U.S. do with F1, and what F1 will do with the U.S. This potential deal with Apple exposes a third: what Apple will do with F1 and why both sides see a strategic fit that transcends dollars.
Apple’s quest for Formula 1 rights isn’t just a bidding war; it’s a manifestation of their corporate evolution and one that is ever evolving and expanding: from selling devices, to delivering services, to owning narratives, and to controlling live experiences.
In a similar vein, F1, under Liberty’s stewardship, is determined to convert social momentum into monetary muscle - while retaining access and control. Something that it tried to do previously but was unsuccessful. This time though things look different - they look promising.
If the deal lands, it will mark a profound moment in sports-media history: a tech company doubling as a Hollywood studio and a sports network. And for F1, it's the culmination of an ongoing American campaign to increase the sport’s popularity in America and gain a new audience base.
F1’s U.S. moment: turning attention into value
Ever since Drive to Survive ignited a surge in American viewership, F1 has experienced remarkable growth stateside. ESPN now averages 1.3 million viewers per race - more than double 2018 levels. But ESPN’s current deal, reportedly worth $85–90 million annually, is expiring after 2025 and leaves plenty of upside.
Liberty Media and FOM see a rare opportunity: convert interest into investment. According to Motorsport.com, the reported Apple offer - $150 million+ per year - is not just a bidding war; it’s a signal that F1 is ready to extract premium value from its U.S. momentum.
Beyond the cash, F1 demands global brand-building, especially ahead of Cadillac’s official entry in 2026 and amid peaks in mainstream visibility (like the Brad Pitt F1 movie’s $395 million box office haul). Apple, which co-produced the film, is intimately aligned with F1’s cultural inflection in America.
But F1 is also insisting: yes to Apple, but also yes to F1 TV. Motorsport sources suggest FOM wants to keep its direct-to-consumer F1 TV product (in my eyes, one of teh best digital sports products out there) running in parallel, giving fans multiple ways to follow the grid. The big question is - what’s in it for Apple?
What Apple brings to the grid and gains in the process
A $150 m annual bet on streaming sports. Apple is betting big, with estimates of at least $150 million annually, eclipsing ESPN’s current price. Why? Because Apple is no longer just a hardware company - it’s on its way to becoming a 360 media powerhouse.
They’ve already secured rights to MLB games and the entire Major League Soccer via Apple TV+. F1, with its combination of global flair, real-time drama, and aspirational lifestyle, is an ideal complement. It’s sports, sure, but packaged with Hollywood-level storytelling.
Supercharging Apple TV+: from hardware to Hollywood to live action. The following triad - live rights, cinematic storytelling, behind-the-scenes access - gives Apple a unique vertical integration: control the narrative, then show the product. Especially when F1 is trending in U.S. pop culture, it allows Apple to own the entire ecosystem. This vertical integration is key as it’s something F1 has been looking into for the past five years.
Hollywood credentials: F1: The Movie is Apple Studios’s first box office hit - opening at $146 m global and grossing ~$540 M globally by early-August. An incredibly impressive number, even by big-budget Hollywood standards.
Docuseries in development: Apple already has an upcoming Sir Lewis Hamilton documentary, further deepening their racing portfolio.
Demographic leverage and brand halo. F1 skews younger and more affluent - just the audience Apple wants. And its global appeal offers Apple a shiny new front in sports entertainment, helping them compete not just with Disney/ESPN, but with Amazon, Netflix, and other sports-streaming rivals. Considering the NFL remains off‑limits, F1 may be the most effective live-sports uplift available.
F1’s calculus and the tradeoffs
Upsides:
Revenue bump: From ~$85 m to $150 m+ annually.
Brand momentum: Association with Apple’s aspirational image multiplies cultural reach. Apple is also seen as a tech darling, a perfect partner for F1 which has slowly become one of the most tech-forward sports out there.
Flexibility: Apple’s broader platform gives F1 levers that ESPN couldn’t - e.g. global launches, cross-platform tie-ins, documentary series.
Risks:
Audience fragmentation: Apple TV+ doesn’t have ESPN’s cable reach. F1 must guard against reducing total viewership.
Subscription friction: Will casual fans sign up for Apple TV+ just to watch races? we still don’t know if newer F1 fans converted from watching Drive To Survive to becoming paid F1TV customers.
Long-term reliability: Will Apple renegotiate, renew, or deprioritise in the future?
That’s why FOM is keen to retain F1 TV in the U.S. - to ensure fans still have access, even if Apple changes course.
But picking the streamer — just as F1 tries to mastermind the next phase of its growth strategy in a country it is starting to crack in a meaningful way — is not without risk - Financial Times, Josh Noble
The bigger picture here is Apple’s three-pronged strategy. Live content & storytelling: They combine premium rights (F1, MLB, MLS) with original storytelling (F1 film, Hamilton doc, Apple Originals). Subscriber momentum: Exclusive sports is a proven driver for streaming subscriptions; F1 with global matches keeps fans hooked. Integrated brand image: Tech + lifestyle + sports = total immersion. Just like they did with music and fitness.
In short, Apple is aligning its hardware ecosystem with an ecosystem of live entertainment and community.
What a deal tells us about the sports-media landscape
For sports leagues:
More bidders = more value. A non-traditional bidder like Apple pushing beyond ESPN’s price ceiling suggests premium rights packages are insurgent turf.
Direct-to-consumer is non-negotiable. Leagues recognise they need DTC options alongside big platform deals.
For tech platforms:
Sports are brand amplifiers, not profit engines. The NFL may be off the table now, but F1 shows they’re aiming higher.
Cross-media operations (movie + doc + live events) amplify ROI in brand-building.
For viewers:
Expect a richer media landscape - smartphones with haptic trailers, behind‑the‑scenes content, and multi‑channel access.
But be ready to subscribe to yet another service - Apple TV+, F1 TV, maybe cable. Fragmentation continues.
🔗 Genesis Magma Racing and the art of storytelling | YouTube
Genesis understands the importance of storytelling and the joy of ‘behind the scenes’ content. This is one team to watch out for. Welcome to the official Genesis Magma Racing YouTube channel. Follow them on their Trajectory into endurance racing in the 2025 European Le Mans Series, while they test and develop their GMR-001 LMDh Hypercar for the 2026 FIA World Endurance Championship with Andre Lotterer and Pipo Derani. Watch here.
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🔗 Silicon Valley Is in Its ‘Hard Tech’ Era | New York Times
Not F1 related, not even sports related but seeing how much AI is playing a role in sports these days, this was a great read and one I wanted to share. Goodbye to the age of consumer websites and mobile apps. Artificial intelligence has ushered in an era of what insiders in the nation’s innovation capital call “hard tech.” Read here.
what we've seen with the MLS is a reduction in viewership, but a focus on the more serious fans. Obviously F1 is a different situation, but will be interesting to see how much this takes away from the natural 'recommendation' engine that you get from YouTube TV etc. My assumption is this will lead to more serious fans but a drop off in casuals
Such a succinct edition - as I see it the possibilities are galore in the F1 X Apple collaboration. But there are so many unanswered questions that need much more data to inform if Apple is going to get the desired results from its three touchpoints with the sport. Will it be lucrative? Certainly, atleast for the sure shot content around F1. Will that be enough? Time will tell. From my perspective, it’s a huge opportunity to make a positive impact.