With ‘F1’, Apple succeeds with a blockbuster hit

Looks like Apple has its first bona fide box office hit.

The company has already produced critically acclaimed and award-winning films for Apple TV+. In fact, while Netflix has reportedly spent millions on its Oscar campaigns, Apple’s “Coda” remains the only movie produced by a streaming service to win the Academy Award for Best Picture.

It has, however, been a different story at the box office — at best, returns have fallen short of ambitious budgets, and with “Argylle,” the company had a spectacular flop. Last year, Apple reportedly decided to scale back on both budgets and theatrical releases, leading to canceled projects and criticism from directors.

### Turning the tables with “F1”

“**F1**” — currently the No. 1 movie in theaters, on track to earn $55.6 million this weekend at the domestic box office. With $144 million in global ticket sales, “F1” will soon surpass “Napoleon” ($228 million) as Apple’s highest-grossing film.

### Director and Formula One Racing

“F1” director Joseph Kosinski previously helmed “Top Gun: Maverick,” and in many ways, the new movie sounds like a loose copy of the “Maverick” formula, combining realistic, you-are-there cinematography with a familiar narrative.

“F1” likely benefited from the surging U.S. popularity of Formula One racing, fueled in part by Netflix’s docuseries “Formula 1: Drive to Survive.” Much of it was filmed at actual Formula One races, and driver Lewis Hamilton also signed on as a producer.

While Apple’s bet seems to be paying off, it’s still not clear whether “F1” — with a reported budget of more than $200 million — will actually make a profit in theaters. Before its release, one box office analyst told Vulture that even in success, the movie “may end up being a very expensive commercial for original content on Apple TV.”