F1 CEO hits back at Apple TV+ ‘disaster’ claims
Apple TV will become the exclusive broadcaster in the US In 2026.
“Formula 1’s controversial switch to Apple TV+ has been branded a ‘disaster’ by some investors — but Stefano Domenicali insists it is a masterstroke.
Following a collaboration for F1 The Movie, the iPhone manufacturer was announced as the broadcaster for the next five seasons in October.
Stefano Domenicali defends Apple TV+ Formula 1 deal
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Far from its days as a hardware manufacturer, Apple has invested heavily in sports broadcasting in recent years and now streams sports such as baseball and the MLS.
But adding Formula 1 to its paddock represents a coup for the California-based company however some critics have suggested that by moving to Apple TV+ and away from ESPN, it is reducing the amount of people that will have access to it.
In a call with Liberty Media investors, Peter Supino – an analyst of Media and Entertainment in the US – said some of the investors he had spoken to describe the deal as a “disaster”.
“F1 CEO Domenicali, though, defended the deal, which Apple reportedly paid $750m to secure, and said the sport would reach the younger audience through less conventional methods.
“First of all, I think that we are very, very happy about the deal with Apple for many reasons,” he said. “[Critics] don’t understand the deal because behind that, there is a huge opportunity to increase the reach.
“There is an incredible opportunity for Apple to use all their channels, all their platforms, to promote our sport in a way that has never been done before. There will be, there will be the opportunity for the younger generation to be connected with a tool that is more logical for them to use in the living, the sport and our business.”
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As part of the deal, Apple will use F1 in areas such as Apple News, Apple Maps, Apple Music, Apple Sports, and Apple Fitness+.
Domenicali believes that will create a bigger “awareness in the American market” and insisted he had no doubts about the deal.
“I do believe that this will represent a bigger opportunity to increase also our revenue streams but also in terms of awareness in the American market.
“That will enable us to convince also those who do not believe that this is the right move, but on that we have not even a single doubt.
“It is a great move. Great things will happen that will give a big boost to our performance in the American market. On that, you know, our community has not even a single doubt.”
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