Excitement is building for the upcoming Formula 1 season, especially with the Bahrain testing complete and the first race, the Australian Grand Prix, set to take place next month. With teams unveiling improved cars and Lewis Hamilton’s high-profile move from Mercedes to Ferrari, Formula 1’s global viewership is expected to rise. As the sport gains momentum, Formula 1 is reportedly targeting a $180 million TV rights deal when ESPN’s current contract expires at the end of the season.
ESPN has held the U.S. broadcast rights for F1 since 2017, with its current deal renewed in 2022 valued at up to $90 million per year. However, Netflix is now looking to secure the rights, capitalizing on the sport’s growing fanbase, especially in the digital streaming market.
Netflix’s interest in F1 is no surprise, considering the success of its docuseries Drive to Survive, which played a major role in attracting new fans to the sport. The 2021 championship battle between Lewis Hamilton and Max Verstappen drove F1’s TV ratings to 1.2 million viewers in 2022.
Formula 1 had a dedicated fan base for decades, but its popularity skyrocketed after Liberty Media took over in 2017. The U.S. market, in particular, has seen significant growth, with three American races now on the calendar Miami, Austin, and Las Vegas.
Reports suggest Liberty Media is expected to demand $160-180 million for the next TV rights deal, and Netflix is considered a top contender. However, Apple has also expressed interest, while Fox Sports is reportedly out of the bidding process.
Pierre Maes, a media rights consultant and author, said, “Of course, on paper, Netflix is interested. They have been doing Drive to Survive and everybody thinks, OK, it’s a natural follow-up to this move as Drive to Survive has been so successful. But I don’t think they want to participate in an auction where they would compete against ESPN and maybe Apple or Amazon and drive the prices up. They don’t want to do that, that’s clear.”
The Netflix-produced docuseries Formula 1: Drive to Survive has played a crucial role in F1’s recent surge in popularity. The show, created in collaboration with Formula One Management, gives fans an exclusive look at behind-the-scenes action, intense rivalries, and dramatic moments from the championship.
Although it premiered in 2019, the series gained massive traction in 2021, leading to a significant boost in F1’s global fanbase. With six seasons and counting, Drive to Survive continues to be a major attraction for both casual viewers and hardcore fans.
As the bidding war for Formula 1’s next U.S. TV deal heats up, all eyes are on Netflix, Apple, and ESPN. If Netflix secures the deal, it could mark a major shift in how F1 is consumed, potentially moving away from traditional cable towards digital-first streaming. With F1’s growing global audience, major driver moves, and rising TV ratings, the 2026 season could bring a new era of broadcasting for the sport.