The Powers That Be: Daily Media Monday: Apple’s F1 Power Play & Yaccarino’s X-it Plan
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Jul 14, 2025 Jon Kelly, Editor-in-chief of Puck and a media expert, joins Julia Alexander to dive into Apple's significant bid for Formula 1's U.S. media rights, exploring its potential to dominate sports broadcasting. They also analyze Linda Yaccarino's surprising exit from X, shedding light on the dysfunctions plaguing the platform and its survival prospects under Musk. The conversation highlights the shifting dynamics in media investing and the unpredictable future of digital platforms, drawing parallels with leadership struggles in today's media landscape.
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Apple's Big Bet on F1
- Apple is offering $150-$200 million per year for F1 US rights, nearly double ESPN's current $85-$90 million deal.
- F1's rising popularity, driven by the movie and "Drive to Survive," makes it an attractive streaming property despite being a niche European sport.
Liberty Media's Strategy Shift
- Liberty Media may accept less reach in exchange for Apple's guaranteed money, following the MLS model.
- ESPN faces budget constraints and shifting strategy, making Apple a strong contender for F1 rights.
Apple's Strategic Media Play
- Apple uses media rights as marketing for its hardware products like Vision Pro.
- The synergy between Apple’s streaming and hardware ambitions makes F1 an ideal property for them.