Australian Broadcaster Nine Eyes Formula 1 Rights Amid Growing Popularity
Nine’s Stan Sport platform may acquire Formula 1 broadcasting rights, leveraging Oscar Piastri's rise in the sport.
Nine Entertainment Co. has expressed interest in acquiring the broadcasting rights for Formula 1 for its Stan Sport platform, particularly as Australian driver Oscar Piastri leads the championship, enhancing the sport’s growing fan base.
Matt Stanton, the company's chief executive, confirmed this intention during the Macquarie Australia Conference, humorously noting that Piastri’s impressive form has influenced the market value of the rights package.
Stanton indicated that while he supports Piastri, his success is driving the price of the broadcasting rights higher.
Nine Entertainment is also reportedly close to negotiating with telecommunications company Optus to take over its Optus Sport brand, which currently broadcasts the English Premier League in Australia.
However, Stanton did not comment on the potential deal with Optus, which has a contract valued at approximately $100 million per year and still has three years remaining.
Foxtel, which holds the existing Formula 1 broadcast rights behind a paywall—except for the Australian Grand Prix aired by Network 10—has been the primary broadcaster since a contract renegotiation concluded in 2022, valued at about $45 million annually.
The rights are anticipated to go to market soon as Foxtel is believed to be in the final year of this agreement.
Meanwhile, Network 10 is also contemplating a bid for the full rights package.
Formula 1 holds a significant appeal due to its expanding fan demographic, aided by the success of Netflix’s _Drive to Survive_.
Reports indicate that approximately 41% of the current fan base consists of women, marking a notable increase.
The upcoming Australian Grand Prix is protected under federal anti-siphoning laws, which mandate that certain major sporting events remain accessible to the public.
In recent years, the race in Melbourne attracted record attendance over its four-day event period.
Piastri, in his third season with McLaren, is currently leading the drivers’ championship, having won his last three races in Bahrain, Saudi Arabia, and Miami.
His performance has made him a favorite among fans globally, raising expectations for his future in the sport.
The F1 rights are estimated to attract an additional audience of between 200,000 and 400,000 subscribers for the broadcasting entity.
Over the last decade, Formula 1 has expanded its race calendar, with 24 circuits planned for 2025. This new season aligns with Stan’s current offering, which already includes various motorsport events and major tennis tournaments, as well as the Summer and Winter Olympics.
Last month, Nine secured a broadcasting deal with Rugby Australia valued at $210 million over five years, indicating its commitment to enhancing its sports portfolio.
Despite facing tough competition from other streaming platforms, Stan aims to expand its subscriber base, which has recently stagnated.
Foxtel holds a broader range of motorsport broadcasting rights, including NASCAR and MotoGP, with its Supercars rights package also expiring in 2025. The company is navigating multiple negotiations this year, including its partnership with the NRL, and has recently lost exclusive ESPN access for broadcasting NBA and NFL games.
While F1 broadcast rights in Australia are managed separately, speculation continues regarding potential global bids, including interest from platforms like Netflix, particularly as F1's appeal surges in the US, now home to three races on the calendar.
Matt Stanton, the company's chief executive, confirmed this intention during the Macquarie Australia Conference, humorously noting that Piastri’s impressive form has influenced the market value of the rights package.
Stanton indicated that while he supports Piastri, his success is driving the price of the broadcasting rights higher.
Nine Entertainment is also reportedly close to negotiating with telecommunications company Optus to take over its Optus Sport brand, which currently broadcasts the English Premier League in Australia.
However, Stanton did not comment on the potential deal with Optus, which has a contract valued at approximately $100 million per year and still has three years remaining.
Foxtel, which holds the existing Formula 1 broadcast rights behind a paywall—except for the Australian Grand Prix aired by Network 10—has been the primary broadcaster since a contract renegotiation concluded in 2022, valued at about $45 million annually.
The rights are anticipated to go to market soon as Foxtel is believed to be in the final year of this agreement.
Meanwhile, Network 10 is also contemplating a bid for the full rights package.
Formula 1 holds a significant appeal due to its expanding fan demographic, aided by the success of Netflix’s _Drive to Survive_.
Reports indicate that approximately 41% of the current fan base consists of women, marking a notable increase.
The upcoming Australian Grand Prix is protected under federal anti-siphoning laws, which mandate that certain major sporting events remain accessible to the public.
In recent years, the race in Melbourne attracted record attendance over its four-day event period.
Piastri, in his third season with McLaren, is currently leading the drivers’ championship, having won his last three races in Bahrain, Saudi Arabia, and Miami.
His performance has made him a favorite among fans globally, raising expectations for his future in the sport.
The F1 rights are estimated to attract an additional audience of between 200,000 and 400,000 subscribers for the broadcasting entity.
Over the last decade, Formula 1 has expanded its race calendar, with 24 circuits planned for 2025. This new season aligns with Stan’s current offering, which already includes various motorsport events and major tennis tournaments, as well as the Summer and Winter Olympics.
Last month, Nine secured a broadcasting deal with Rugby Australia valued at $210 million over five years, indicating its commitment to enhancing its sports portfolio.
Despite facing tough competition from other streaming platforms, Stan aims to expand its subscriber base, which has recently stagnated.
Foxtel holds a broader range of motorsport broadcasting rights, including NASCAR and MotoGP, with its Supercars rights package also expiring in 2025. The company is navigating multiple negotiations this year, including its partnership with the NRL, and has recently lost exclusive ESPN access for broadcasting NBA and NFL games.
While F1 broadcast rights in Australia are managed separately, speculation continues regarding potential global bids, including interest from platforms like Netflix, particularly as F1's appeal surges in the US, now home to three races on the calendar.
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