Brad Pitt’s newest movie, F1, is already setting records at the box office. The sports drama features Pitt as Sonny Hayes, a driver who returns to the circuit after a decades-long hiatus. The movie is directed by Joseph Kosinski (Top Gun: Maverick) and also stars Damson Idris (Joshua), Kerry Condon (Kate), Javier Bardem (Ruben), and more.
Warner Bros. and Apple Studios both distributed the production, though Apple served as the lead production company. The Fédération Internationale de l’Automobile (FIA), which is the organization that leads Formula One, also provided additional support, partly in the form of footage from existing races.
Just 10 days after its release, F1 has crossed the $250 million mark worldwide. With $184.1 million internationally, $109.5 million domestically, and $293.6 million globally, it is officially the first Apple Studios movie to cross that threshold. It only saw a global drop of around 44% this weekend, so it should continue to climb in the coming weeks.
What This Means For F1 And Apple
Apple Has Struggled In Theaters
Despite making significant investments into its theatrical productions, Apple has never had a true runaway success at the box office. In just 10 days, F1 is already Apple’s highest-grossing movie, and it still has space to grow. It has already outgrossed every other Apple production, including Argylle (2024), Fly Me to the Moon (2024), Wolfwalkers (2020), and more.
Many of Apple’s movies receive only limited releases or Apple TV+ releases.
The second-highest-grossing Apple Original Film production was the bomb Napoleon (2023), which grossed $218 million at the box office on a $200 million budget. Its other division, Apple Films, hails another box office bomb, Killers of the Flower Moon (2023), as its highest-grossing movie, and it earned $156 million with the same enormous budget.
F1 is a much-needed change for Apple, which has never been able to prove itself at the box office. Even when it is investing heavily in these projects, it suffers disaster after disaster. Even F1 is not proven to succeed yet, as it still needs to earn as it reportedly has a budget that ranges from $200 to 300 million.
Our Take On F1’s Box Office Milestone
It Still Needs To Earn A Profit
Image via Apple TV+
Movies generally need to receive 2.5x their budget to draw a profit after marketing costs and the cut that theaters take from every ticket. It also accounts for percentages lost in international distribution. That can vary, depending on pre-existing deals, like the deal that Apple has with the FIA, but it is a general rule of thumb.
For F1, it would mean that this movie needs to bring in between $500 million and $750 million, depending on its final budget. $500 million is certainly a possibility, though $750 million appears to be unlikely at this point. The movie could rally down the line, but its high budget could prove to be worrying.
Even if F1 does not profit in theaters, streaming success is on the horizon.
The calculus has certainly changed, however, as streaming platforms now offer an additional source of revenue. This movie will likely head to Apple TV+ in the coming months, where Apple will be able to draw in even more subscribers. Even if F1 does not profit in theaters, streaming success is on the horizon, and this milestone should already please Apple.
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Source: Warner Bros.
