Netflix (NFLX) is looking to win streaming rights to the Formula One (FWONA) tournament in the U.S. and has entered a bidding race, multiple media outlets reported Friday, making further headway into the world of live sports and events.

A potential deal could enable Netflix to leverage the success of its hit docu-series "Drive to Survive", which has significantly increased Formula One's global popularity by providing an engaging behind-the-scenes look at the sport.

Netflix is eyeing the live broadcast rights for Formula 1 in the United States with the bidding process for the 2026 season onwards set to begin in the next few months. The streaming service has played a vital role in growing F1 stateside,

Netflix (NASDAQ:NFLX) is reportedly considering a bid for Formula Ones U.S. television rights, according to The Athletic. The move could mark a major shift in the streaming giants sports strategy as it seeks to expand

Netflix is taking bold new steps in Formula 1, building on the success of Drive to Survive with initiatives set to captivate fans worldwide.

F1 has enjoyed a major boost in popularity over recent years with the Drive to Survive series, launched in 2019, widely credited for introducing the sport to millions of new fans.