The US market is dominated by domestic sport competitions, with the National Football League (NFL) seeing the highest reported levels of fandom, followed by the National Basketball Association (NBA) and Major League Baseball (MLB).
Motorsport is no exception, with data from Ampere Analysis showing that Nascar is the most popular competition, with 62 per cent of racing fans interested, while IndyCar sits at 25 per cent. Nascar’s fandom is reflected in the value of its media rights, which are worth US$1.1bn per year under its current broadcast deals with Fox, NBC, Warner Bros Discovery and Amazon.
Formula One ranks second in the US among motorsport fans, with 38 per cent interested in the series. This is in contrast to the rest of the world, where Formula One dominates, meaning the US presents an opportunity for the championship to grow its fanbase in the world’s biggest sports rights market.
Formula One rights values soar as it gains popularity in the US
Despite lower levels of popularity than in other markets, Formula One’s US media rights value surged in its most recent contract renewal with ESPN, which is valued at US$85 million per season for the 2023 to 2025 cycle, compared to just US$5 million for the previous three-year deal.
Formula One parent company Liberty Media invested in the Las Vegas circuit in 2023, while investors supported the build of the Miami circuit in 2022. The introduction of local races gives US consumers the opportunity to engage with the sport beyond TV coverage.
It also opens opportunities for Americans to watch races live without a time zone barrier, with Grands Prix in Europe, the Middle East and Asia typically falling early in the morning or late at night. American driver Logan Sargeant also took his place on the grid for Williams in 2023, giving US fans a local driver to support.
Crucially, streaming service Netflix launched its Drive to Survive documentary in 2019, which has grown in popularity ever since, with season seven launched in March this year ahead of the new Formula One campaign.
The show’s success has helped fuel a growing appetite for Formula One content in the US and brought a new audience to the sport. Ampere’s Consumer data shows that 41 per cent of sports fans in the US watch sports documentaries at least weekly, so series like Drive to Survive are fundamental in building a fanbase.
Such initiatives are also having an impact on live audiences. As of Q4 2024, 85 per cent of US Formula One fans say that they watch live races, up five per cent since Q4 2021, which shows an increased appetite for the series’ live content, which broadcasters will be keen to capitalise on.
Liberty is also seeking to see a return on its investment and capitalise on this growth, reportedly looking for up to US$180 million per year from its next US broadcast deal.
Other players are showing an interest in US F1 rights
With factors like Drive to Survive, new US circuits and the involvement of an American driver raising Formula One’s profile in the US and generating greater engagement from local fans, there is likely to be increased competition among potential buyers in the ongoing rights sales process.
With reports suggesting that ESPN is not willing to overpay to renew its deal, Formula One has been linked with a number of suitors for its US rights. That includes both traditional broadcasters and the large streaming services, such as Netflix, Amazon Prime and Apple TV, which have been increasing their investment in sports rights in recent years.
Netflix, for example, has recently entered the sports rights arena by picking up rights for WWE’s Monday Night Raw and NFL Christmas Day games, while it is set to broadcast the Fifa Women’s World Cup in 2027.
While interest in Formula One in the US remains relatively low compared to other domestic sports, it is growing faster than in other markets among US Netflix subscribers, increasing 94 per cent since 2018. Coverage of live races would complement the existing Drive to Survive series and engage the more casual fans to which the show appeals.
Apple TV could also be a contender. The platform is set to launch a F1-themed movie in summer 2025, backed by seven-time champion Lewis Hamilton. So, like Netflix, it could look to live rights to strengthen its racing portfolio as it pushes for new subscribers.
Arguably the streamer with the most aggressive sports strategy in the US, however, is Amazon Prime Video. It recently reported that it will be diverting budget towards sports, which the company sees as a reliable way of drawing audiences.
Ampere’s Markets Content data shows that in 2024, 14 per cent of Prime Video’s spend in the US was attributed to sports rights, with this share set to reach 22 per cent in 2029.
Amazon has already started acquiring major sports rights in the US, most recently taking a package of NBA rights in a deal worth US$1.8 billion per season between the 2025/26 and 2036/2037 seasons, ending a four-decade partnership between the league and WBD. Prime Video could look to move next for Formula One in the US to sit alongside its Nascar rights and become a home for motorsports.
As a previous broadcaster of the series, NBC could also be a contender for airing Formula One on its Peacock service. However, the broadcaster previously ended its deal after failing to reach an agreement over streaming rights, which would continue to be held by the series’ direct-to-consumer platform F1 TV.
Indeed, while the current ESPN deal allows for a selection of races to be shown live on ESPN+, this arrangement could still be a barrier to a rights agreement for streaming services who would want exclusivity.
Either way, the winner of the race for Formula One rights will likely be the partner that most benefits the series’ ongoing US growth strategy.
Ampere Analysis is the exclusive provider of consumer and media rights data and insights to SportsPro’s commercial guides, which provide the latest business intelligence for the top leagues and events. Access the guides by becoming a SportsPro+ member today.