Apple’s latest theatrical release, *F1*, has captivated audiences, achieving over $200 million in box office receipts since its premiere on June 27. Although it is projected that the film could cross the $300 million mark by mid-July, financial experts predict that it may only just break even once its theatrical run concludes. Star Brad Pitt has celebrated his biggest opening weekend ever with this film.
Jeff Goldstein, the Distribution Chief at Warner Bros., believes *F1* still has strong staying power in theaters, stating that “there’s a lot of gas left in the tank.” Given that the film’s production budget exceeded $200 million and distribution costs have surpassed $50 million, it is anticipated that *F1* may become the first Apple Original Film to turn a significant profit. Apple plans to make *F1* available for premium on-demand services after its theatrical run, potentially extending into August.
Following this, the film will debut on Apple TV+. This strategy aligns with Apple’s commitment to enhancing its profile for high-quality productions while boosting the appeal of its streaming service. Directed by Joseph Kosinski, known for *Top Gun: Maverick*, and produced in partnership with Pitt’s Plan B Entertainment, *F1* represents a notable venture for Apple’s film division.
Historically, Apple’s films have received critical acclaim, such as *CODA*, which won the Best Picture Oscar in 2021, and other successful releases like *Killers of the Flower Moon*. However, many of their theatrical releases have struggled to recover their production costs, including the recent efforts like *Napoleon* and *Argylle*, which fell short financially despite later revenue from on-demand licensing. With *F1*, Apple appears to have struck a chord with international audiences, but it remains unclear if they will continue prioritizing crowd-pleasers or maintain a blend of critical and popular projects.
Ultimately, Apple maintains a broader perspective on profitability, considering various revenue streams beyond box office sales.
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