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By Stocksak: Motor racing-Formula One and Walt Disney extend ESPN agreement until 2025


© Stocksak. FILE PHOTO – A screen showing the logo and a ticker symbol of The Walt Disney Company, on the New York Stock Exchange (NYSE), New York, U.S.A, December 14, 2017. REUTERS/Brendan McDermid

AUSTIN, Texas (Stocksak). – Liberty Media-owned Formula One. Disney Company (NYSE 🙂 announced Saturday that they had extended their broadcast partnership. The sport will continue to be available on ESPN networks in the United States through 2025.

The new agreement, which will last for three years, includes expanded direct to consumer rights. More races will be shown on ESPN and ABC, while Sky Sports TV will provide coverage.

Since 2018, ESPN has been the broadcast rights holder of NBC Sports. As the sport grows in America and reaches a younger audience, the audiences have grown strongly.

Las Vegas will debut next season as a third U.S. track after Austin, which hosts Sunday’s U.S. Grand Prix on the Circuit of the Americas.

Formula One reported that last year was the most watched season on U.S. TV with an average of 949 000 viewers per race. This has increased to an annual average of 1.2million after 18 out of 22 races in 2022.

The inaugural Miami Grand Prix broadcast by ABC television generated an average viewership in excess of 2.6 million viewers, making it the largest U.S. audience for a live Formula One race.

Next season will feature a record 24 races

“We are thrilled to announce that the partnership with ESPN will continue,” Stefano Domenicali, Formula One chief executive, said in a statement.

“Formula One’s growth has been remarkable in the United States, with sold out events and record television audiences… With their quality coverage, the ESPN networks played a major role in this growth.”

News Source and Credit

Stocksak Editorial

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