Netflix Is Open To Bidding For F1 Streaming Rights

Netflix has already established itself as an entertainment platform but its rivals have started pivoting towards sports. Disney-owned Hotstar has been doing this for a while, and now Amazon is also opening up the floodgates. Netflix has been interested in F1 and motorsports in general for a while with it being the official streaming partner for the Drive To Survive documentary which chronicles the behind-the-scenes drama of the F1 season. It has also hosted documentaries around legendary figures like Juan Manuel Fangio and more recently Michael Schumacher. It knows its audience loves F1 and they have a voracious appetite for it.

Now CEO and co-founder Reed Hastings has revealed that while originally it avoided sports, it will now be open for bidding for the F1 streaming rights. "A few years back, the Formula 1 rights were sold. At that time we were not among the bidders, but today we would definitely consider that," he said.

Michael Schumacher till recently was the most successful F1 driver of all time
Photo Credit: AFP

"At Netflix, we do entertainment and not journalism," says Hastings, adding "That would have to be up to certain standards. We keep our hands off live sports. With that kind of broadcast, we have no control over the source," he revealed the thought process behind not bidding for F1 previously.

It received great traction around the documentary called Schumacher which chronicles his early career and his early years at Ferrari before he won his third world title at the legendary Italian team with whom his name will always be synonymous. The documentary also features his wife, son, daughter, father, brother, and fellow drivers like Mika Hakkinen, David Coulthard, Eddie Irvine, Sebastian Vettel, and his former colleagues Ross Brawn and Jean Todt.

Even Apple is also considering getting into the sports streaming game which is why it will be imperative for Netflix to continue its lead over the incoming rivals. This year also Netflix is producing the Drive To Survive documentary which will probably air before the start of the 2022 F1 season.