It appears that Apple was the first genuine box office hit.
The company is already producing award-winning films that have been sued by critics for Apple TV+. In fact, Netflix reportedly spent millions on an Oscar campaign, but Apple’s “Coda” is the only film produced by the streaming service to win an Academy Award for Best Picture.
But that was another story at the box office – at best the returns were not on an ambitious budget, and in “Algir”, the company had an epic flop. Last year, Apple reportedly decided to scale back both its budget and theater releases, canceling the project and criticism from the director.
Things finally turned around with “F1.” It is currently the number one film in theaters and can earn $55.6 million at the domestic box office this weekend. With a global ticket sales of $144 million, F1 will soon surpass Napoleon ($228 million) as Apple’s best growing film.
“F1” director Joseph Kosinski previously directed “Top Gun: Maverick,” but in many ways the new film sounds like a loose copy of the “Maverick” formula. Grit.
“F1” (distributed in the US by Warner Bros.) may have benefited from the rush to the popularity of Formula One Race, partially fueled by Netflix’s documenary “Drive to Survive.” Many of them were filmed in actual Formula One races, with driver Lewis Hamilton also signing on as a producer.
Apple CEO Tim Cook joined Hamilton for various cover stories that Cook said “can bring some of the things that are unique to the film, like camera technology.” According to him, the plan was “to have the whole company support it – retail and everything support.” (Not all customers are happy with mutual promotions.)
While Apple’s bets seem to be paying off, it is still not clear whether “F1” (reported budget exceeding $200 million) will actually make profits in theaters. Before its release, a box office analyst told Vulture that, even if it succeeds, the film could “be a very expensive commercial of Apple TV’s original content.”
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