Netflix CEO 'Would Definitely Consider' Buying Formula 1's Race Streaming Rights

As Netflix docuseries 'Formula 1: Drive to Survive' continues to thrive and bring new fans to Formula 1, the media giant has thought of bidding for race streaming rights.

Formula 1 has seen a major boost in its fandom as Netflix's docuseries Formula 1: Drive to Survive continues to thrive, and now, the CEO of the streaming platform spoke to German outlet Der Spiegel and said he "would definitely consider" bidding for F1's streaming rights.

However, if successful, it wouldn't look how race days typically do now. 

"At Netflix, we do entertainment and not journalism," said Reed Hastings before adding, "That would have to be up to certain standards. We keep our hands off live sports. With that kind of broadcast, we have no control over the source." 

DTS has largely fallen into this category by following teams throughout the year and telling the compelling story of a specific season through a documentary format. However, the series has sometimes been criticized for its misrepresentation and editorial decisions. 

Ratings continue to skyrocket for live races, though. According to data from ESPN in June, viewership was up 50% from the 2020 season and 36% from 2019. The French Grand Prix on June 20 hit 1.1 million viewers, reportedly the largest U.S. audience since the 2019 Canadian Grand Prix on ABC, per NBC News.

The show is still ongoing with Season 4 covering the 2021 season. It is expected to drop on Netflix in 2022. This season has been drama-packed as Max Verstappen and Lewis Hamilton continue to battle each other for the world championship title. They have been going head-to-head so aggressively that they crashed each other out of the Italian Grand Prix in Monza. This weekend, both drivers will race in the Russian Grand Prix.

As popularity continues to grow within the United States, Formula 1 announced the dates and course for the 2022 Miami Grand Prix. This marks the first Formula 1 race in Florida since 1959. The new track will be set within the city’s Hard Rock Stadium campus next May.