Apple’s ‘F1’ film grosses over $55 million domestically and $145 million worldwide on its opening weekend, marking its first blockbuster success.
The film’s success reverses Apple’s previous theatrical misfires, validating its high-stakes strategy in the film industry.
With a budget over $250 million, ‘F1’ needs to gross over a billion dollars to break even, but it enhances Apple’s brand and boosts Apple TV+ subscriptions.
Apple’s big-budget racing film ‘F1’ became the company’s first true blockbuster, pulling in a record over $55 million domestically and $145 million worldwide on its opening weekend. The success marks a major turning point, validating Apple’s high-stakes theatrical strategy after a string of expensive misfires.
Reversing the spinout: The win provides a much-needed course correction for Apple Studios. Previous nine-figure bets on films like Martin Scorsese’s ‘Killers of the Flower Moon’ and Ridley Scott’s ‘Napoleon’ underperformed in theaters, while the $200 million spy caper ‘Argylle’ was an outright flop, raising questions about the company’s Hollywood ambitions.
The blockbuster formula: For ‘F1,’ Apple put ‘Top Gun: Maverick’ director Joseph Kosinski behind the wheel, pairing the star power of Brad Pitt with the surging popularity of Formula One. By filming at actual Grand Prix events and bringing on seven-time champion Lewis Hamilton as a producer, the film tapped directly into a global fanbase supercharged by Netflix’s ‘Drive to Survive.’
The billion-dollar question: Profitability is another race entirely. With a budget reportedly north of $250 million, Vulture’s analysts estimate the film needs to gross over a billion dollars to break even. But for Apple, the real prize may be the “halo effect” of creating culturally relevant hits that burnish its brand and drive subscribers to Apple TV+.
The Finish Line: The success of ‘F1’ sharply reverses the narrative from just months ago when Apple’s commitment to theaters seemed to be in doubt. It revives the company’s big-screen ambitions, proving it can compete in the summer blockbuster arena. Meanwhile, fans are already asking when ‘F1’ will land on Apple TV+ for its streaming debut.
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