Dorsey said the layoffs come in anticipation of an ensuing trend, allowing the company to act proactively: “I’d rather get there honestly and on our own terms than be forced into it reactively.”
Apple secured the rights to stream F1 races last year in a deal believed to be valued at around $150 million per year. The company has since been trying to expand the reach of the sport, and this Netflix deal is part of that effort. Apple has inked a deal with IMAX to simulcast some races live in theaters. It's also been reported that Tubi, Comcast, DirecTV and Amazon Prime Video will all have some access to select F1 content.
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