Apple’s F1 Movie Earns $293M Boosting Formula 1 US Visibility

Apple's 'F1: The Movie' has become the company's highest-grossing film, earning $293 million globally within ten days and surpassing previous Apple releases such as 'Napoleon' and 'Killers of the Flower Moon.' The film, starring Brad Pitt and Damson Idris, offers an immersive look into Formula 1 racing with real footage and behind-the-scenes access, contributing to its broad appeal among sports and technology fans. Apple invested heavily in the production and marketing of the film, with a budget estimated between $250 million and $300 million plus about $100 million in marketing, and partnered with Warner Bros. for global distribution including IMAX showings, which accounted for a significant portion of revenues. The success of the movie is seen as a potential turning point for Apple in the entertainment industry and may influence the company to expand its presence in high-speed sports broadcasting, including efforts to secure U.S. broadcast rights for Formula 1. Despite its box office success, the film has yet to break even due to the high production and marketing costs. Additionally, the growing American interest in Formula 1, fueled by this film and increased race events, may further enhance the sport's visibility and popularity in the U.S.