Business & Economy
Twitter/X is set to launch a payment system called ‘X Money’ in 2025
X, the social media platform previously known as Twitter, has unveiled plans to launch a new payment system, “X Money,” set to debut in 2025.
This initiative marks a significant step in the platform’s evolution into a broader all-encompassing “everything app,” reflecting its commitment to integrating diverse services into a single ecosystem.
Under the leadership of Elon Musk, X has been undergoing a series of transformative changes since its rebranding.
The introduction of X Money represents a move to expand beyond social networking, leveraging the platform’s vast user base to create a unified digital space where social, financial, and other services converge.
While details about X Money remain under wraps, the system is expected to allow users to make peer-to-peer payments, conduct online transactions, and facilitate business payments seamlessly within the app.
The initiative aligns with Musk’s vision to turn X into a multi-functional application akin to China’s WeChat, which combines messaging, social media, and payment services.
The development of X Money also suggests potential integrations with cryptocurrencies, given Musk’s longstanding interest in digital currencies like Bitcoin and Dogecoin. However, whether the platform will incorporate such features remains to be confirmed.
The launch of X Money could significantly alter the competitive landscape for digital payment systems, positioning X as a direct competitor to established platforms like PayPal, Venmo, and Cash App.
By embedding financial services into its social media platform, X aims to provide users with a more holistic experience, potentially increasing user engagement and retention.
Set for release in 2025, X Money is currently in development, with more updates expected as the launch date approaches. The company is anticipated to roll out the service in phases, possibly starting with a pilot program in select markets before expanding globally.
With the introduction of X Money, X is taking a bold step into the financial technology space, signaling a new era for the platform as it aims to redefine how people interact and transact in the digital world.
Business & Economy
Apple TV Secures Exclusive 5-Year U.S. Broadcast Rights for Formula 1 in Landmark $700 Million Deal
CUPERTINO, Calif. — Apple TV has finalized a historic five-year agreement with Formula 1 to become the sport’s exclusive media rights holder in the United States, replacing ESPN as the official broadcast partner beginning with the upcoming F1 season.
Under the new contract, Apple TV will pay approximately $140 million per year, a 55% increase over ESPN’s most recent annual rights fee of $90 million. The total value of the deal is estimated at $700 million, reflecting the rapid surge in Formula 1’s U.S. media valuation over the past decade.
Formula 1’s broadcast rights in the U.S. have experienced exponential growth. When ESPN first began airing F1 races in 2018, it did so at no cost, under a free broadcast agreement designed to expand the sport’s U.S. presence.
That initial partnership evolved into a $5 million deal, which later increased to $75–90 million annually under the most recent contract.
The new Apple TV agreement now nearly doubles the previous rate, underscoring the sport’s growing popularity in the American market.
While F1 TV, Formula 1’s official direct-to-consumer service, will continue to operate in the U.S., access will now be integrated through Apple TV.
Viewers will need an Apple TV account to stream F1 TV content; however, existing subscribers to both services will benefit from bundled savings.
Apple TV will provide comprehensive coverage of every race weekend, including practice sessions, qualifying, sprint races, and the main grand prix events, all streamed in ultra-high definition.
All Formula 1 programming on Apple TV will be available in both English and Spanish, leveraging Apple’s capacity to reach the estimated 42 million Spanish speakers in the U.S. Apple’s signature production quality—known for minimal video compression and creative camera experimentation—is expected to enhance the overall broadcast experience.
The company is still finalizing its broadcast and production team, with plans to bring in a mix of new and experienced motorsport talent.
Apple plans to leverage its ecosystem to maximize fan engagement. The company will integrate F1 content into Apple News, Apple Music, and the Apple TV app, while offering real-time race tracking via an iPhone widget.
Push notifications and curated playlists inspired by each race weekend will further personalize the viewer experience.
This approach mirrors Apple’s successful partnership with Major League Soccer (MLS), where the company holds global broadcast rights through its “MLS Season Pass” on Apple TV.
According to Eddy Cue, Apple’s Senior Vice President of Services, the deal was facilitated by the strong relationship forged between Apple and Formula 1 executives during the production of the Apple Original Film “F1”, starring Brad Pitt.
The film, which grossed over $628 million worldwide, became the highest-grossing sports movie of all time and deepened Apple’s ties with F1 leadership.
Apple intends to make select races available free-to-view on the Apple TV app, while reserving premium coverage for paying subscribers.
For ESPN, the inability to sell commercials during uninterrupted race broadcasts limited potential profitability, making it difficult to justify higher fees. Apple, as a subscription-based platform, faces no such constraints.
This move aligns with Apple’s long-term media strategy: to own and control full end-to-end distribution of major sports leagues, as seen with MLS.
For viewers, the new deal consolidates all Formula 1 content—previously spread across cable and streaming platforms—into a single, seamless destination.
While $140 million per year may seem steep, industry analysts note that individual Formula 1 team sponsorships can exceed $100 million annually, suggesting that Apple’s investment is consistent with the sport’s elite global positioning.
Ultimately, the partnership provides Apple with access to F1’s affluent and highly engaged global audience, offering powerful marketing opportunities and reinforcing its growing presence in live sports broadcasting.