Wow, $5MM to $75MM per year. I know the first three years were a loss-leader to build up viewership but that's still a pretty big gamble on eyeballs. I'm guessing that they won't continue the add-free coverage.
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from Speaking Alpha
Formula One Racing (NASDAQ:FWONA) has agreed to renew its broadcast rights deal with ESPN (NYSE:DIS) through 2025, Sports Business Journal reports.
That contract's not signed yet, according to the report, but rival bidders Amazon.com (AMZN) and Comcast (CMCSA) have been informed that their bids won't be accepted.
And the three-year deal reportedly comes at $75M-$90M per year - a sharp increase from the $5M per year ESPN had in a three-year, $15M deal from 2019 (but apparently below an Amazon.com bid of around $100M per year and a similar bid from Comcast). Netflix (NFLX), which has seen racing success with its Drive to Survive docuseries, put in a bit that wasn't close on the money, SBJ said.
That may have come down to streaming rights requested. For Disney's (DIS) part, while most races will be carried on its ABC or ESPN linear channels, ESPN has the flexibility to put a small number on its ESPN+ streaming service, according to SBJ.
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Good news as some of the races will still be on ABC. The ESPN+ is a bit worrying; wonder if practice sessions will get dumped there, North and South America practices often run at the same time as college sports (which get huge numbers for some reason).
--- SBBSecho 3.06-Win32
* Origin: SportNet Gateway Site (24:150/2)

On 6/26/2022 12:31 PM, XYXPDQ wrote:

Good news as some of the races will still be on ABC. The ESPN+ is a bit worrying; wonder if practice sessions will get dumped there, North and South America practices often run at the same time as college sports (which get huge numbers for some reason).

ESPN barely gets ONE MILLION viewers per race. Can't fathom why they
even wanted to keep it.
--- SBBSecho 3.06-Win32
* Origin: SportNet Gateway Site (24:150/2)

On Sunday, June 26, 2022 at 4:44:13 PM UTC-4, leonard hofstatder wrote:

On 6/26/2022 12:31 PM, XYXPDQ wrote:

Good news as some of the races will still be on ABC. The ESPN+ is a bit worrying; wonder if practice sessions will get dumped there, North and South America practices often run at the same time as college sports (which get huge numbers for some reason).

ESPN barely gets ONE MILLION viewers per race. Can't fathom why they
even wanted to keep it.

I'll take a stab that maybe Liberty is giving them a "bonus" for keeping coverage?
Dan
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* Origin: SportNet Gateway Site (24:150/2)

On Sunday, June 26, 2022 at 10:31:28 AM UTC-7, XYXPDQ wrote:

Good news as some of the races will still be on ABC. The ESPN+ is a bit worrying; wonder if practice sessions will get dumped there, North and South America practices often run at the same time as college sports (which get huge numbers for some reason).

And now the price increase:

https://www.zerohedge.com/markets/espn-subscriptions-will-jump-43-next-month --- SBBSecho 3.06-Win32
* Origin: SportNet Gateway Site (24:150/2)

On 7/15/2022 4:35 PM, XYXPDQ wrote:

On Sunday, June 26, 2022 at 10:31:28 AM UTC-7, XYXPDQ wrote:

Good news as some of the races will still be on ABC. The ESPN+ is a bit worrying; wonder if practice sessions will get dumped there, North and South America practices often run at the same time as college sports (which get huge numbers for some reason).

And now the price increase:

https://www.zerohedge.com/markets/espn-subscriptions-will-jump-43-next-month

Viewership grew during pandemic/WFH, will go over the falls in 2023.
--- SBBSecho 3.06-Win32
* Origin: SportNet Gateway Site (24:150/2)