ESPN tracking for record F1 ratings as circuit searches for rights partner

If ESPN is searching for reason to renew its Formula One media rights package, its ratings this season might prove convincing.

The network has posted year-over-year viewership increases for 11 out of the 12 races held so far this season, according to ESPN PR. Out of those 12 races, seven have set audience records for ESPN. So far this season, Formula One races are averaging 1.3 million viewers across ESPN, ESPN2, and ABC, up 7% versus the same point last year.

Sunday’s British Grand Prix continued the trend. The race averaged 1.5 million viewers on ESPN2, a 19% increase year-over-year and the largest-ever audience for the race on U.S. television.

The positive ratings data comes amid news that Apple has officially submitted a bid to win Formula One media rights from ESPN starting next season. The global racing circuit is reportedly seeking $150 to $180 million for its next U.S.-based broadcast deal, though prior reports suggest potential partners are not interested at that price. ESPN currently pays $85 million per year to air the circuit.

While Apple has formally expressed its interest after the success of its recent F1 movie starring Brad Pitt, ESPN and others reportedly remain in the mix for the circuit’s rights.

This year’s ratings won’t make or break ESPN’s decision with regard to a potential bid, but it could convince the network that Formula One’s audience isn’t as stagnant as the last few years of ratings have looked. After an initial boom in popularity stateside on account of Netflix’s popular Drive to Survive series, Formula One audiences have remained steady, averaging in the 1.1 to 1.2 million viewer range. So far, this season suggests the ceiling could be pushed a bit higher.

Will that be enough to convince ESPN to submit a competitive bid? Time will tell. But from a Formula One perspective, solid viewership certainly can’t hurt.