The report follows the strong box office performance of Apple’s high-octane racing film “F1: The Movie”, which has grossed US$293 million in its first 10 days, according to Variety and other outlets.

The iPhone maker is challenging current US broadcaster ESPN, owned by Disney, for the Formula 1 rights next year, the FT report said, citing sources familiar with the matter.

Reuters could not immediately confirm the report.

Netflix’s “Formula 1: Drive to Survive” series helped boost the sport’s popularity in the US, a momentum Apple now hopes to capitalise on.

Several media outlets reported in February that Netflix is among the contenders for Formula 1’s US broadcasting rights from the 2026 season, as ESPN’s exclusivity period to negotiate a new contract with F1 expired.

Apple and F1 did not immediately respond to Reuters request for a comment.