Formula 1’s parent company, Liberty Media, is looking for broadcasters that do more than just share the race. This is according to CEO Derek Chang, who discussed the championship’s evolving coverage at the Goldman Sachs Communacopia & Technology Conference, describing the series as a “healthy” and “sought-after property”.
According to the F1 chief, discussions over media rights on a global scale are currently taking place, with a number of major markets edging closer to completion. One such rumoured partnership is with Apple, with the tech giant expected to confirm a deal for US rights when ESPN’s rights expire at the end of 2025.
“We announced that we’re doing something with Globo, being back on Globo in Brazil next year,” Chang said. “We announced earlier this year that we had renewed our rights in Canada. I think we’ve got discussions ongoing in several of the major markets that we will have clarity to here relatively soon.
“Much like the US, I think this is a holistic sort of view of traditionally what’s been known as your media partner, but I don’t know if it’s necessarily a media partner per se in a classic sense of someone who’s just broadcasting your race. It is someone who can help fans access your content beyond the race.”
Chang, who has been CEO since the beginning of this year, further outlined his expectations.
“It is someone who can help your fans interact with even your sponsors. It’s all of that. I think the guys that are looking forward and sort of view that as part of their own playbook and what we can do to enhance that for them are ones that we want to try to do business with.”
There are, however, challenges, which Chang noted.
“It’s not a perfect world and timing is never perfect either. You have to sometimes deal with the practical implications of what’s available and how to make that partner and what’s available work for you. These discussions globally seem like they are very healthy. I think Stefano [Domenicali] and his team are doing a great job. I think we’ll continue to see the right partners line up with Formula 1.”
F1 has seen a strong boost to its brand for a number of reasons. The second quarter of 2025 saw record-breaking revenue reaching $1.2 billion, with Apple’s successful F1 movie being a large factor in this, as well as race promotion fees, media rights, and sponsorship. This will make its negotiations in these broadcasting deals much stronger.
Esteban Ocon, Alpine A524
Photo by: Zak Mauger / Motorsport Images
“I think that on the sponsor side, this has been an incredible year. Stefano and Emily [Prazer] and their teams have done a fantastic job on multiple fronts.
“One is the continuation of just bringing in new sponsors. Vegas has been a big part of that, and I think it’s been very helpful to that story and to that narrative. I think as we are filling a lot of categories, there are still several that can be filled. I think there’s growth opportunity in terms of existing renewals that are going to happen here over the next several years.
“I think you can see the demand is there – the inventory is kind of tightened in some ways. What you will hopefully see is, even if the names don’t change, it is actually a good thing because having long-term partners who continually have associated with you and continue to invest in that brand association is extraordinarily powerful.
“I think what you’ll see is hopefully people coming in at different tiers where you drive demand and drive pricing, and that in itself will help the monetisation, beyond the continued investment in that brand affiliation that these guys make.”
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