Brad Pitt’s ‘F1’ Races to $55.6M Opening: Apple’s First Box Office Smash, ‘M3GAN 2.0’ Disappoints

The race is on at the movie theaters as the high-budget racing movie “F1,” featuring Brad Pitt, soared to an impressive $55.6 million in its first weekend within the U.S. market.

Accompanied by stellar reviews and a solid “A” from CinemaScore audience polls, “F1” hit its projected range of $50 million to $60 million. Globally, the film brought in a robust $88.4 million across 78 markets. These figures are particularly notable considering “F1” is aimed at adults and isn’t part of a pre-existing series, making it a unique offering in a movie industry often dominated by known intellectual properties. Directed by Joseph Kosinski of “Top Gun: Maverick” fame, the film portrays Pitt as a former Formula One driver coaxed out of retirement to mentor a promising new driver (played by Damson Idris) and to help revive a struggling racing team.

Jamie Erlicht, Apple’s head of worldwide video, expressed excitement over the international acclaim for ‘F1’, acknowledging the collaborative effort of the team including Joe, Jerry [Bruckheimer], Brad, and [F1 champion] Lewis [Hamilton], and their successful partnership with Formula 1, which authentically captured the essence of the sport in this cinematic venture.

“F1” represents Apple’s initial major box office success, despite the film’s near $250 million production cost (estimates vary between $200 million and $300 million). This does not account for the extensive promotional activities, including a worldwide press tour. Apple, lacking a traditional distribution network, collaborated with Warner Bros. to release the film, which also gets a share of the theatrical revenues based on certain benchmarks.

Unlike typical studios, Apple’s massive $3 trillion market cap means it isn’t as reliant on box office and home entertainment revenues. Instead, it views its film and TV projects as promotional tools for its tech products and Apple TV+. Apple employs unique marketing strategies, such as featuring the “F1” trailer prominently on its streaming service and sending out iPhone alerts with special ticket offers.

In a recent The Bangin Beats cover story, Apple CEO Tim Cook shared that the company’s involvement in entertainment isn’t about boosting hardware sales but about telling compelling stories and establishing a sustainable business within the entertainment industry.

Despite some less successful ventures in cinema, such as Martin Scorsese’s “Killers of the Flower Moon” and Ridley Scott’s “Napoleon,” and some outright flops, Apple’s release of “F1” has brought them closer than ever to producing a blockbuster appealing to broad audiences. In just three days, “F1” has amassed $144 million worldwide, quickly approaching and likely to surpass the earnings of Apple’s previous films.

David A. Gross of FranchiseRe movie consulting highlighted the challenge of making a successful racing film, noting the genre’s inconsistent performance in the past but acknowledging the exceptional start for “F1.”

The production team, including notable figures such as Jerry Bruckheimer and Lewis Hamilton, has been promoting “F1” as the most authentic racing film to date. The filmmakers utilized advanced Imax cameras and shot on actual Formula 1 tracks around the world, capturing the intense speed and excitement of the sport. This authenticity has paid off, with premium formats like Imax drawing significant audiences, making up 55% of domestic sales and generating $27.7 million globally.

Imax CEO Rich Gelfond praised “F1” for its groundbreaking approach to racing sequences, which were specifically designed to optimize the Imax experience. He anticipates a continued strong showing at Imax theaters, especially over the upcoming U.S. holiday weekend.

As “F1” took the lead, it left other films trailing, including the campy horror sequel “M3GAN 2.0” by Universal and Blumhouse, which debuted in fourth place with $10.2 million domestically. Despite its quieter start compared to its predecessor, “M3GAN 2.0” still managed a total of $17 million globally. The future of this A.I. horror series, however, remains uncertain with mixed reception and declining interest.

David A. Gross commented that while the initial film sparked curiosity, the novelty has worn off without significant new elements to engage the audience further.

Meanwhile, established titles continued to perform well. Universal’s “How to Train Your Dragon” adaptation secured the second spot, adding $19.4 million in its third week for a total of $200.5 million in North America and $454.5 million worldwide.

Disney’s “Elio,” despite facing competition, brought in $10.7 million in its second weekend, a 49% drop from its opening. The Pixar film, despite positive reviews, struggles at the box office, having only garnered $73 million globally against a $150 million budget.

In contrast, Disney’s “Lilo & Stitch” live-action adaptation continues to succeed, nearing the billion-dollar mark after six weeks in theaters, with plans for a sequel already underway.

Sony’s “28 Years Later” rounded out the top five, experiencing a significant drop in its second weekend, signaling potential difficulties in recovering its $60 million production budget with a global total of $103 million thus far.