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Is Netflix joining the race for Formula 1 rights?

Streamer's co-CEO Reed Hastings says it's something the company would think about

Netflix could be set to enter the race for live broadcasting rights to Formula 1 after co-CEO Reed Hastings said it’s something the streamer would think about.

While Netflix’s competitor Amazon Prime has found success with acquiring the rights to tennis, rugby and football, Netflix has shied away from entering the sports broadcast market.

But in an interview with Der Spiegel Hastings said that while the streamer “keeps its hands off” live sports, it would consider broadcasting F1 if it owned it in its entirety.

“With sports broadcasts, we have no control over the source,” Hastings added. “We don’t own the Bundesliga, which can make deals with whomever it wants. But this kind of control would be a prerequisite for us to be able to offer our customers a secure deal.

“A few years ago, the [commercial] rights to Formula 1 were sold. At that time we were not among the bidders, today we would think about it,” he said.

Netflix already has a small foothold with F1 fans thanks to its Drive to Survive documentary series. Earlier this month it released Schumacher, a documentary about seven-time world champion Michael Schumacher.