Apple is making its biggest attempt yet to break into blockbuster filmmaking with F1, its high-budget racing drama starring Brad Pitt. The company reportedly shelled out close to a whopping $250 million USD (about $341 million CAD) to land the project—outspending other studios during a bidding process, according to The Wall Street Journal.
The film, directed by Top Gun: Maverick’s Joseph Kosinski and produced by Jerry Bruckheimer, follows an aging Formula 1 driver making a final run at glory. Sources cited by the WSJ say Pitt earned more than his usual $20 million USD ($27.2 million CAD) fee and will take home a share of box office revenue if the movie performs well. Pitt’s getting paid no matter what.
Despite pouring billions into original content, Apple remains relatively small in the streaming space, with an estimated 27.2 million U.S. subscribers—well behind rivals like Disney+ and Netflix. Its limited library and lack of older licensed content mean many viewers dip in for one show or movie, then cancel. The company also keeps tight control over viewer data, frustrating creators who are often left in the dark about how their work is performing, says the WSJ.
Apple also has yet to build its own distribution infrastructure. For F1, it has partnered with Warner Bros. to handle the film’s theatrical rollout. But that could create tension, as Warner is set to release its Superman reboot just two weeks after F1 hits movie theatres.
Even so, Apple has gone all-in on promoting F1. The movie was spotlighted at Apple’s WWDC, and the company is offering (controversial) ticket discounts through Apple Pay—something it hasn’t done for a film before. CEO Tim Cook has even appeared in public with Pitt and Formula One driver Lewis Hamilton, who is also a producer on the film. F1 marketing is basically everywhere and hard to miss.
F1 will land on Apple TV+ after its theatrical run–and that’s when we’ll be watching the film, to actually take advantage of the money we’re paying for our Apple One subscription. F1 hits theatres on Friday, June 27–who’s going to watch it on the big screen?
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