Netflix may be planning to take on ESPN with this ‘Big sports deal’

Netflix is reportedly considering a bid for the US broadcast rights to Formula One racing. According to a report by The Athletic, this potential deal follows the streaming giant Netflix’s success with the F1 docuseries “Drive to Survive,” which debuted in 2019 and is widely credited with boosting the sport’s popularity and, consequently, the value of its broadcast rights.

Sports channel ESPN currently holds the US rights, with a deal that expires after 2025. The current agreement is estimated to be worth between $75 and $90 million annually, according to Sports Business Journal.