(Photo credit: Peter Casey-Imagn Images)

Formula 1 has agreed to an exclusive five-year partnership with Apple TV to broadcast racing content in the United States.

The deal with the streaming service announced by F1 on Friday is reportedly worth $160 million per year and takes effect with the 2026 season.

The agreement follows the success of the Apple original film 'F1 The Movie,' starring Brad Pitt, that released this summer.

'This is an incredibly exciting partnership for both Formula 1 and Apple that will ensure we can continue to maximize our growth potential in the U.S. with the right content and innovative distribution channels,' F1 president and CEO Stefano Domenicali said.

'We are no strangers to each other, having spent the past three years working together to create 'F1 The Movie,' which has already proven to be a huge hit around the world.

'We have a shared vision to bring this amazing sport to our fans in the U.S. and entice new fans through live broadcasts, engaging content, and a year-round approach to keep them hooked.'

This new broadcast agreement will see Apple TV stream all practice, qualifying, sprint sessions and Grand Prix races to paid subscibers. Select races and all practice sessions throughout the season will also be available to watch for free in the Apple TV app.

'We're thrilled to expand our relationship with Formula 1 and offer Apple TV subscribers in the U.S. front row access to one of the most exciting and fastest-growing sports on the planet,' said Eddy Cue, Apple's senior vice president of services.

'2026 marks a transformative new era for Formula 1 from new teams to new regulations and cars with the best drivers in the world, and we look forward to delivering premium and innovative fan-first coverage to our customers in a way that only Apple can.'

F1's previous broadcasting deal with ESPN, which began in 2018, expires at the end of this year.

'We're incredibly proud of what we and Formula 1 accomplished together in the United States and look forward to a strong finish in this final season,' ESPN said in a statement. 'We wish F1 well in the future.'

--Field Level Media