According to The Hollywood Reporter, Apple has successfully struck a deal for a tentpole Formula One movie starring Brad Pitt and set to be directed by Top Gun: Maverick filmmaker Joseph Kosinski.
Kosinski and Pitt are joined by writer Ehren Kruger and producers Jerry Bruckheimer and Chad Oman of Jerry Bruckheimer Films. Sir Lewis Hamilton, seven-time F1 world champion, will produce the film alongside Pitt’s Plan B Entertainment.
The movie follows Pitt’s character, a racetrack veteran who had long hung up his helmet but comes out of retirement to mentor a promising rookie.
Reports suggest the acquisition could potentially set new precedents for how distribution agreements for movies that have both a theatrical and streaming release work moving forward.
The untitled movie will have an exclusive run of at least 30 days and possibly as many as 60 days at theatres across the globe before it lands on Apple TV+. Insiders also said box office revenue for the film will be divvied up 50-50 between Apple and the filmmakers.
Movies sold to streaming platforms previously had a choice between the proceeds from a theatrical release (which they would also have to push the streamer for) or a one-time payout from the company. However, this deal introduces an arrangement that could end up shifting the current paradigm between streamers and filmmakers.
Apple TV+ is constantly growing its catalogue with new TV shows and movies. The platform recently won its first BAFTA TV awards, adding to its growing collection of accolades.
