Apple’s Formula 1 movie starring Brad Pitt has made a big impression, earning more than $500 million in global box office revenue. As Bloomberg’s Mark Gurman discussed in his “Power On” newsletter, the movie has definitely been a major success for Apple’s entertainment division, especially since Apple TV+ is still working to stand out in a crowded streaming market. However, from a business standpoint, the real question is whether this blockbuster will help bring more viewers to the service.
Now, a bit of background on the movie itself: It was made with Warner Bros. and directed by Joseph Kosinski, who also made “Top Gun: Maverick.” It features high-speed racing scenes, an A-list cast, and a storyline that appeals to fans around the world. For Apple, it’s a showcase project — one that can create buzz both in theaters and on streaming.
Still, the money side is complicated. The production budget is rumored to be over $250 million, and marketing costs were high as well. That means profits from the box office might be small. But Apple’s goal isn’t just about theater revenue — it’s about building a stronger Apple TV+ brand and attracting subscribers.
As Gurman points out, that’s where things get tricky. Apple TV+ has struggled to keep up with larger streaming services like Netflix, Disney+, and Amazon Prime Video. It has fewer shows and less frequent releases. The F1 movie could change that by raising the service’s profile, but it’s unclear whether it will actually lead to a noticeable rise in subscribers.
Tim Cook attending the F1 world premiere accompanied by Brad Pitt, Lewis Hamilton, and Damson Idris. | Image credit — Apple
Apple started Apple TV+ in 2019 with a small number of original shows. Since then, it has gradually increased its investment, despite challenges like the pandemic and Hollywood labor strikes. The F1 movie is its boldest effort yet, and it suggests Apple is serious about making a name for itself in entertainment.
Looking at competitors, Netflix has used popular series and films to attract millions of users. Sports-themed shows and movies, in particular, have done well — with examples like “Drive to Survive” and Amazon’s NFL coverage gaining traction. Apple’s F1 film could follow a similar path.
However, considering all this, I believe this is a smart step for Apple — even if it doesn’t turn a big profit. What matters more is whether it changes how people see Apple TV+. If the movie helps bring in new viewers or gets people talking about the platform, that could make a lasting impact.
