Rivals Amazon have acquired rights to football and tennis in recent years, while Netflix haven’t delved into live sport.

F1’s popularity has been boosted by Netflix’s yearly documentary Drive to Survive, especially in countries where F1's own streaming platform - F1 TV Pro - is available for an affordable price.

In the United Kingdom, F1 TV isn't accessible due to the sport's long-term deal with Sky Sports.

With F1 on pay TV in the UK, ratings have dropped considerably compared to when it was shown free-to-air on the BBC and ITV prior to 2012.

Speaking in an exclusive interview with Der Spiegel, Netflix CEO Reed Hastings said: “News is by its nature political, and it varies greatly from country to country.

“It is difficult to produce news as a globally operating company without making enemies. It's much easier for others who only cater to a regional market. Besides, we make entertainment and not journalism, which should have certain standards and follow ethical guidelines. We also keep our hands off live sport.”

Hastings said it would only consider broadcasting F1 if it owned it in its entirety.

“With sports broadcasts, we have no control over the source,” Hastings added. “We don't own the Bundesliga, which can make deals with whomever it wants. But this kind of control would be a prerequisite for us to be able to offer our customers a secure deal.

“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.”