Apple pays $750 million for US Formula 1 streaming coverage

The United States Grand Prix takes place this weekend at the Circuit of the Americas in Texas, and this morning, Formula 1 used the occasion to announce a new broadcast deal for the sport in the US. Starting next year, F1 will no longer be broadcast on ESPN—it’s moving to Apple TV in a five-year, $750 million deal.

Apple boss Tim Cook has been seen at F1 races in the past, and earlier this year, Apple released F1: The Movie, starring Brad Pitt as a 50-something racing driver who improbably gets a second bite at the cherry 30 years after a brutal crash seemingly ended his F1 career.

But securing the rights to the sport itself means Apple has snagged a very fast-growing series, with races almost every other week—currently, the sport has expanded to 24 races a year.

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