F1 Races to Top: Becomes Apple’s Highest-Grossing Film at $293 Million!

Apple’s newest major film, “F1: The Movie,” has raced to the forefront of the company’s cinematic lineup.

In just ten days, “F1” has amassed $293 million globally at the box office, surpassing the total earnings of other Apple releases like Martin Scorsese’s “Killers of the Flower Moon” at $158 million worldwide and Ridley Scott’s “Napoleon” at $221 million. This makes “F1” the highest-earning film from Apple thus far, which is notable considering the company has had limited theatrical releases, including the underperforming “Fly Me to the Moon” ($42 million) and “Argylle” ($96 million).

The success of “F1” suggests a positive shift for Apple’s entry into film production. After several high-budget flops, including “Killers of the Flower Moon” and “Napoleon,” both of which cost over $200 million and failed to break even theatrically, “F1” marks a critical juncture. There was a prevailing belief within Apple that if a mainstream film like “F1” failed to perform, the company might pivot away from film production in favor of its successful television ventures on AppleTV+, which include hits like “Severance” and “Ted Lasso.”

Despite its box office success, “F1” still has a long way to go to cover its production and marketing costs, which total over $350 million. However, the strong ticket sales are promising for an adult-oriented original film and provide some justification for Apple to continue its cinematic endeavors. Moreover, Apple’s robust financial standing, with a market cap of $3 trillion, affords it a cushion not available to traditional film studios.

Joseph Kosinski directed “F1,” which features Brad Pitt as a former Formula One driver who comes out of retirement to mentor a new driver and help revive a struggling team. The film debuted with a $57 million domestic and $146 million global opening, marking Apple’s strongest launch yet. The film’s performance is also supported by positive reviews and word-of-mouth, which should help it compete against major releases like “Jurassic World Rebirth” and anticipated films such as “Superman” and “Fantastic Four: The First Steps.” Internationally, “F1” has performed well particularly in China ($22 million), the United Kingdom ($17.3 million), Mexico ($12.3 million), France ($11.5 million), and Australia ($9.8 million).

The use of Imax cameras and filming at actual Formula 1 events around the world has made “F1” a significant draw on premium large format screens. To date, Imax screenings alone have contributed $60 million, making up over 20% of its global revenue.