Apple appears to have achieved its first genuine box office success. The tech giant, already known for producing critically acclaimed and award-winning films for Apple TV+, holds a unique distinction: while Netflix has spent heavily on Oscar campaigns, Apple’s “Coda” remains the only streaming service production to win the Academy Award for Best Picture.
However, the company’s track record in theaters has been less impressive. Box office returns have often fallen short of its ambitious budgets, with the spy thriller “Argylle” proving to be a spectacular failure. In response, Apple reportedly decided last year to reduce spending and scale back theatrical releases, resulting in canceled projects and pushback from filmmakers.
CEO Tim Cook, alongside actor Lewis Hamilton, appeared on the cover of Variety to promote the latest release, highlighting how Apple brought “unique” elements to the film, such as its camera technology. Cook added that the entire company, including retail operations, supported the movie’s rollout. Some customers, however, were less enthusiastic about the extensive cross-promotion.
While early signs suggest Apple’s latest gamble is working, questions remain over whether “F1” — with a reported budget exceeding $200 million — can turn a theatrical profit. One box office analyst told Vulture before its release that even in success, the film might serve more as a costly advertisement for Apple TV+ than a financial win.
