Formula 1 Stock Gains Momentum as Media Rights Bidding War Heats Up
Liberty Media's Formula 1 tracking stocks (FWONA, FWONK) have surged 12% year-to-date, fueled by a perfect storm of media interest and strategic positioning. The sport's global appeal is crystallizing through Netflix's 'Drive to Survive' documentary series and Apple's upcoming Brad Pitt feature film, creating unprecedented mainstream visibility.
The real acceleration comes from broadcast rights negotiations. With ESPN's current $90 million annual deal expiring, Formula 1 is demanding a 67% premium to $150 million. This bidding war has drawn streaming giants Netflix, Apple, and Amazon into the fray—each seeking to bolster their live sports offerings. Analysts see 20% upside potential, with Pivotal Research setting a $125 price target for FWONK.
