(Image Source: Apple)
Apple's big-budget racing epic "F1," produced for over $200 million, opened strong last week, raking in $144 million globally. This success finally gives Apple a much-needed win in the theatrical market after a string of losses. Variety reported today that Apple is extremely pleased with the results and has already begun actively discussing a potential sequel. While "F1" hasn't officially turned a profit yet, it stands as Apple's first theatrical release to deliver both critical acclaim and box office performance worthy of praise.
(Image Source: Apple)
Having only entered the theatrical market in the last two years, Apple had faced a series of financial disappointments. "Napoleon" cost over $200 million in production and marketing but only grossed $220 million worldwide, barely breaking even. "Killers of the Flower Moon" similarly cost $200 million but brought in just over $150 million. "Argylle," also a $200 million production, failed to cross the $100 million mark. "Fly Me to the Moon," with a budget close to $100 million, earned less than $50 million globally. These consecutive failures led Apple to temporarily halt the theatrical release plans for "Wolfs" last year in an attempt to stem the bleeding. It wasn't until "F1" that they finally saw a glimmer of hope.
Variety speculates that "F1" might embolden Apple to expand its theatrical footprint. However, building a global distribution network and staffing branch offices from scratch would require immense resources, potentially even beyond Apple's capacity. Another possibility is that Apple will continue to be highly selective, only backing one major blockbuster at a time, similar to "F1." What's certain for now is that the success of "F1" will prevent Apple from abandoning theatrical releases altogether.
via： Variety