Can the F1 movie kick Formula One into top gear?

With the new “F1: The Movie” now in theaters, Formula One owner Liberty Media is hoping Brad Pitt’s latest ride will drive greater interest in F1: The Sport, especially for American audiences. 

And no expense is being spared in pursuit of that goal.

The Apple original film follows Pitt as Sonny Hayes, a retired F1 driver who jumps back behind the wheel to help out the struggling APX team. With British seven-time world champion Lewis Hamilton as a producer, every aspect of the movie was shot to be as authentic as possible, with Apple reportedly agreeing to spend an eye-watering $200 million on the production. Filmed on real race weekends, with the fictional team set up on the circuits with their own pit garage, hospitality team, and uniforms, the cast and crew had an unprecedented level of access into the upper echelons of one of the most glamorous sports on earth.

But there’s a reason why Liberty Media has its foot fully on the floor: F1’s popularity in the world’s biggest sports market has started to lose some traction, just as it was building speed.

F1’s TV viewership in the US has started to stall, plateauing over the last two years.

That slowdown comes at a critical time for the sport, as Liberty Media’s rights agreement with ESPN expires at the end of this season. Luckily, on-track competition has heated up this year, with new contenders like McLaren’s Oscar Piastri and Lando Norris challenging the dominance of Red Bull. That drama might persuade big players like Netflix, which has been deepening its forays into live sports, and ComcastCMCSA $35.40(0.33%)-owned NBCUniversal to think about bidding for the rights. 

Liberty Media clearly thinks it has a premium product on its hands, as The Wall Street Journal reports:

“[Liberty Media] has been shopping a rights package at around $150 million to $180 million a year beginning with the 2026 season, according to people familiar with the matter, though there isn’t an official asking price. That would be up to double what ESPN has been paying recently...”

At that price, it’s not clear how many bidders would be seriously interested — a potential problem for Liberty, which has invested heavily into its US races, and is reliant on media rights deals for roughly one-third of its revenue.

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