FOX Broadcasting Company has emerged as a leading candidate for broadcast rights to the NTT IndyCar Series. NBC, the series' current television and streaming partner and exclusive rights since 2019, is in the final year of its broadcast agreement with IndyCar.
Sources told RACER that FOX, the network and cable giant with major deals with the NFL, MLB, FIFA World Cup, NCAA football and basketball, and NASCAR, is considering Indie as a value-add asset. It is said that they are seriously considering the car. In addition to a limited lineup of auto races. RACER also understands that Indiana-born FOX Sports CEO Eric Shanks attended at least one IndyCar race as a guest of the series last year and also visited the series on a recent trip to Los Angeles.
Once known as the home of F1, IMSA, Supercross and the FIA World Endurance Championship, FOX has expanded its focus to NASCAR and shoulder programs including daily “NASCAR,” especially through its Fox Sports 1 and 2 cable outlets. I'm leaving it there. Race Hub” is a newscast on FS1, and the channel features regular features on the country's most popular racing formats. FOX will also broadcast his NHRA.
“With FOX, we can confirm that they are interested,” IndyCar/Penske Entertainment CEO Mark Miles told RACER. “They have been talking to us since we first started the process of selling the rights for 2025. They are fans of IndyCar and the Indianapolis 500 race. I think they want to see what we can do with the 500 and IndyCar in that regard.”
Like FOX, NBC and other network, cable and streaming entities (possibly six or seven in total) are hoping to secure new deals for the series, which premiered at the Indy 500 in 1911. .
“FOX continues to consult with us and communicate regularly with them and others,” Miles added. “Let's see what happens.”
While the move to FOX and its sports cable station marks a fresh start for IndyCar, leaving NBC means leaving the most-watched network in 2023, the fourth-largest network behind CBS and ABC. Variety magazine reports that it means that. However, the potential benefits are worth noting.
One positive for IndyCar will be that FOX will be at the top of its auto racing priorities once the network transfers its NASCAR coverage to NBC midseason each year. Under NASCAR's new expanded broadcast package starting in 2025, FOX and NBC will split the entire Cup Series calendar as NASCAR takes 10 races off the network and sends them to a new blend of Amazon Prime and Warner Bros. Discovery. will be reduced. /TNT.
As a result, FOX's handover of NASCAR to NBC will take place on June 9 of this year, but will occur sooner on Amazon Prime at some point in May 2025, with FOX handing over NASCAR to NBC in 2025. It is expected that they will lose their signature race, the Coca-Cola 600 race, in December 2020. Charlotte running a few hours after the Indy 500.
Given the decline in FOX's NASCAR schedule, the onboarding of IndyCar and the Indy 500 in late May could help the FOX network retain its race viewership even after ending NASCAR later in the year. It also has the potential to attract more attention, which IndyCar has been seeking amid its recent rise in popularity.
After NBC shut down its sports cable channel NBCSN at the end of 2021, it attempted to replace the impact with USA Network and Peacock streaming services, but viewer response to IndyCar was limited in both cases. On FOX, IndyCar will return to its widely known sports cable home for non-network rounds and could look to expand its race-to-race presence with its own FS1 “Race Hub” program, similar to NASCAR.
FOX's NASCAR race hub offers race-specific newscasts that could serve as a model for similar IndyCar-themed shows. Photo courtesy of FOX Sports.
IndyCar is also seeking a pay increase from its next broadcast partner as it explores its options. IndyCar's annual revenue from NBC is rumored to be in the $20-25 million range, which could certainly improve, but profits could be limited.
NASCAR's new seven-year deal worth an estimated $1.1 billion per season and F1's latest with ESPN, valid until 2025, with annual payments to the series rumored to range from $75 million to $90 million. Aside from contracts, small series have fairly large contracts. It hasn't suffered a similar financial windfall like IndyCar.
Another motivation for IndyCar to consider working with FOX is the newly announced creation of a large-scale sports streaming service that will debut in 2025.
The upcoming platform, excluding NBC/Peacock, will feature a partnership between FOX, ESPN and Warner Bros. Discovery and will include “games from NFL, NBA, MLB, NHL, WNBA, NASCAR, and college sports including men's and women's.” According to ESPN, the NCAA Tournament, golf, tennis, FIFA World Cup, and more.
“This includes services from 15 linear networks: ESPN, ESPN+, ESPN2, ESPNU, SEC Network, ACC Network, ESPNEWS, ABC, Fox, FS1, FS2, Big Ten Network, TNT, TBS, and truTV .Subscribers can also bundle products with Disney+, Hulu, and Max.”
