Netflix: "When F1 rights sold we weren't among the bidders, today we'd think about it" (R. Hastings)

"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," said Reed Hastings, CEO of the streaming platform Netflix, to the German magazine Der Spiegel, 17/09/2021.

Reed Hastings is not counting on news or live sports to attract more subscribers, however. He sees Netflix as an entertainment company that does not do journalism, explaining that it is difficult to produce news without making enemies, especially as a global company.

"We don't own the Bundesliga, they can make deals with whoever they want. But that kind of control would be a prerequisite for us to be able to offer our customers a safe deal," said Hastings.

• Liberty Media, the US communications, media and entertainment group, acquired Formula One Management, the company in charge of the commercial rights to Formula One, for a total of $4.4bn (€3.75bn) in two stages (in 2016 and 2017).
• Netflix announced on 26/08/2021 that a fourth season of "Drive to Survive", a behind-the-scenes series centred on the Formula One season (the current 2021…