- Discussions held with three ‘major disruptive streamers’
- New deal expected to close prior to Indy 500 in May
IndyCar chief executive Mark Miles has said the series would prefer to have one broadcast partner when it finalises its next media rights deal.
The series is in the last of a three-year deal with NBC, which is believed to be worth around US$20 million per year. Sports Business Journal (SBJ) previously reported that NBC, The CW, Fox Sports and Apple were the interested parties for the next rights cycle.
“Initially, there were several platforms that we had great discussions with, kind of did a road show to get in front of them,” Miles told Front Office Sports (FOS).
“[Fox Sports] were interested when we made our last NBC deal. So, this is not a newfound interest; they like motorsports.”
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Miles confirmed to FOS that IndyCar had held conversations with three “major disruptive streamers” but said that it was unlikely the series would end up split between a traditional broadcaster and a streamer.
The deal is expected to close prior to the Indianapolis 500 in May, with Miles not expecting negotiations to exceed that date.
The series is pursuing a rights fee increase but may struggle to achieve a significant increase on the current deal. IndyCar has Endeavor’s IMG Media division leading the media rights negotiations.
IndyCar is coming off the back of strong viewership figures, with an average of 1.32 million viewers across 17 races representing the most-watched season since 2011.
For comparison, Formula One only averaged 1.1 million viewers on ESPN last season in a deal worth between US$75 million and US$90 million annually. Nascar recorded an average of 2.86 million viewers ahead of a record US$1.1 billion per season media rights deal with Fox Sports, NBC, Warner Bros Discovery (WBD) and Amazon that commences next year.
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