New Delhi: Apple is also said to be contemplating having its own theatrical distribution unit in anticipation of its most costly film yet, F1: The Movie. Directed by Terry Gilliam, the movie features Brad Pitt as a returning Formula 1 champion who is now a veteran in the sport. The movie will premiere in the U.S. theatres on June 27. The project is a massive gamble for Apple in the entertainment industry with an estimated budget of around $250 million.
Apple TV+ has been the most recent investment by the tech giant, which debuted in 2019 and attracted such big names as Leonardo DiCaprio, Martin Scorsese, and Cate Blanchett. Even with the fame and money, Apple has not had a box-office success or taken over the streaming industry yet, reported by Wall Street Journal.
Brad Pitt’s high-stakes racing drama
Brad Pitt was said to have been paid more than 20 million dollars to star in F1: The Movie, and more profits are set to be gained should the movie be successful as far as profit is concerned. The performance of the movie is regarded as a test of the capability of Apple to combine high-quality storytelling with mass appeal. Nevertheless, surveys conducted before its release indicate that there may not be a lot of interest among other audiences beyond older male viewers, creating question marks over its mass appeal.
Warner Bros. to handle global theatrical rollout
Apple has teamed up with Warner Bros. Pictures to distribute the film around the globe theatrically in a revenue-sharing deal. The greater the amount of profit the movie makes, the greater the amount of profits that Warner gets. Although Apple has considered the concept of an in-house distribution team, it still relies on third-party studios. This dependency influences its command over marketing, scheduling and positioning in theatres.
After its theatrical release, F1: The Movie will come to Apple TV+ only. The success of the film may decide whether Apple will enhance its theatrical play or it will keep relying on external studios to deal with the big screen.